Massive Wormhole Hack Sinks Solana, Other Alt Coins Today

Today has been a relatively rocky day for both equity and cryptocurrency investors. At 11:15 a.m. ET, the overall crypto market had dropped by 0.7% over the past 24 hours, led by alt coins such as Solana (CRYPTO: SOL), which saw a decline of 7.3% over the same time frame.

Today's big news affecting Solana and a handful of other tokens is the announced $320 million hack of Wormhole. This is reported to be the second-largest crypto hack in history, and the fact that this hack has so much to do with the Solana network has some investors concerned. Solana reached an intraday low of more than 10% earlier this morning after the news broke.

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Source Fool.com