Solana News: Phantom Wallet Faces Criticism Over Handling of Critical Vulnerability

A security researcher has accused Solana’s Phantom wallet of downplaying a critical vulnerability, raising concerns about the platform's security protocols and responsiveness.

Solana’s Phantom Wallet Accused of Downplaying Critical Vulnerability

A security researcher known as Cloakd has accused Solana’s Phantom wallet of downplaying a critical vulnerability. Cloakd claims to have waited over 28 days for feedback from the Phantom security team regarding the fix for the vulnerability but has received no updates. Cloakd expressed frustration, stating that the lack of response is becoming a joke. In response, the Phantom team acknowledged the report but stated that they have a different perspective on the severity of the vulnerability. They assured users that the vulnerability does not affect user funds and that there is no cause for alarm.

ZachXBT Under Scrutiny After Cashing Out $4M from Meme Coin Tied to His Name

Renowned blockchain investigator ZachXBT has attracted both criticism and support after on-chain data revealed he cashed out $4 million from a meme coin associated with his name. Blockchain data reveals that an address linked to ZachXBT, under the name investigations.sol, received half of the total supply of a newly created meme coin. This equates to 500 million ZACHXBT tokens. The token was created by an anonymous developer, in the investigator’s name. Instead of holding or burning the 500 million tokens, ZachXBT added half of the supply to the ZACHXBT/SOL trading pair as single-sided liquidity. Shortly after adding the tokens to the liquidity pool, the investigator withdrew nearly 91 million ZACHXBT tokens along with the corresponding SOL. Less than 24 hours after the token’s launch, its market cap surged.

Crunch Backed by Solana Reshapes Predictive AI in Web3 Space

Crunch, an AI platform specializing in predictive analytics, has been backed by Solana Incubator for Cohort 2, an initiative led by Solana Labs. This partnership aims to enhance projects on Solana’s high-performance blockchain, marking a significant milestone for Crunch in accessing advanced AI solutions. The platform plans to engage over 7,000 machine learning engineers and researchers globally, referred to as 'crunchers,' who will participate in competitive prediction challenges. These contributors will develop advanced machine-learning models, leveraging Solana’s unmatched speed and scalability to transform predictive analytics in the Web3 space.

Solana (SOL) Price Prediction For January 22

As of January 22, 2025, Solana (SOL) is trading at $256.57, showing a 2.86% increase from the previous close. The intraday high reached $263.57, with a low of $236.59. This performance shows Solana’s resilience and significant growth within the dynamic cryptocurrency market. Solana, launched in 2020, is a high-performance blockchain platform designed to support decentralized applications and crypto-assets at scale. Renowned for its speed and low transaction costs, Solana has emerged as a formidable competitor to other blockchain platforms. Its native coin, SOL, has seen growth, making it a focal point for investors and analysts aiming to understand its price dynamics and future potential. In the lead-up to January 22, 2025, SOL exhibited notable price movements. On January 20, 2025, SOL was trading at approximately...