🧵Solana Security (2020-2025):
A deep dive into $560M+ in losses from hacks, outages, & more.
Check out the Medium article on: https://t.co/IbZQwEdnSU and the full analysis on @flipsidecrypto via quote tweet.
@heliuslabs @solana #Web3
🚨Solana Security Insights Since 2020!🚨
Struggling to find consolidated info on Solana security incidents? I’ve got you covered! Check out my @flipsidecrypto analytical dashboard tracking major incidents—app exploits, supply chain attacks, protocol issues, and network outages.
View the dashboard: https://t.co/oap2GOu4aA
1/7 On March 22, 2026, an attacker was able to mint tens of millions of Resolv DeFi’s unbacked stablecoins (USR) and extract roughly $25 million in value, triggering a sharp de-peg and forcing the protocol to halt operations.
Here's what happened 🧵
Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface.
Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.
The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox.
The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal.
Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.
We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction.
The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.
Wondering why BTC is so badly underperforming gold?
It's because of this. Financial Advisors read this kind of research and keep client allocations low or zero because quantum computing is an existential threat.
It's going to be a yoke around BTC's neck until this gets fixed
After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.
There are too many issues, including:
- A defacto ban on tokenized equities
- DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy
- Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC
- Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition
We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft.
We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.
6/ The Organic Reality 💎
Strip away the bots, and the "organic" volume sits at roughly $32k.
The lesson?
Always look past the "Total Volume" metric. On-chain data doesn't lie, but it sure can be used to paint a very loud, very empty picture. 🖼️🚫
Check out the full Dune dashboard here: https://t.co/XyL1iM9z4J
🧵 The $137M "Ghost" Volume on Base 🕵️♂️📈
1/ Is high volume always a sign of a moon mission? Not on @base. 🔵
I just tore through 1.9 MILLION transactions for a single token to see what's actually happening under the hood.
The results?
A masterclass in incentive farming. 🚜💰
Let’s dive in. 👇
$500 bounty for someone to analyze all 1.8 million transactions on this token:
https://t.co/yU5dilo1qV
Confirm what % of the volume is organic vs. farmed for the AERO incentives and provide a complete analysis
I did analyze about an hour of transactions (free API limit) and what I found:
- $17.8M in total volume
- 99.8% from 3 addresses
- They bought and sold the same amounts (total net was 18 SOL in an hour)
- Organic trading volume not included in the volume farms: $32K
The top wallet has AERO-CL-POS tokens: they are trading against their own liquidity to generate volume, generating bw $50 and $150 per hour in profit from this single pool and paying about $10 in gas
The idea behind this model is to incentivize liquidity but my curiosity here was spurred on by the fact that SOL TVL hasn't budged since launch
5/ The Smoking Gun: Flat TVL 🟦
If $137M in volume reflected organic demand, we would expect rising TVL from new providers or price-driven rebalancing.
Instead, TVL remains a flat line. The existing small capital is just being "turned over" at extreme velocity.
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Tweet 7:
This wasn’t a fundamental collapse — it was leverage getting flushed.
Bull market intact. 🐂
History says rebounds come FAST after events like this.
Huge thanks to @flipsidecrypto & FlipsideAI for powering this analysis. 🙌
What’s your play post-crash?
#CryptoCrash #SolanaSummer
Tweet 1:
🚨Crypto’s wildest liquidation yet:
$1.7B wiped out in ONE DAY — the biggest of 2025!
Memecoins like $USELESS dumped 10–20%, BTC clings to trendline support, and panic selling hit hard.
But… is the bull market really broken? 👇
Tweet 6:
So where are we now?🤷♂️
BTC down ~5%🔻
ETH down ~11.5%🔻
SOL down ~9%🔻
But both WSOL & WETH saw net buying.
That’s smart money treating the dip as an opportunity. 👍👍