In the Solana (SOL) network, a covert war occurs between major players, each trying to “sink” their competitors.
Analyst Duo Nine spoke about the hidden battle and the schemes used by its participants.
Solana’s Major Players in War
Duo Nine claims that among the major crypto projects on Solana, there is a hidden war that even ordinary participants in the crypto community — potential victims of the confrontation — are unaware of. According to him, users may be unable to conduct a transaction on Solana due to the conflict.
The analyst believes that major players are launching DDoS attacks against each other to gain priority in adding their transactions to the cryptocurrency’s blockchain. As a result, users of the projects targeted by rivals cannot conduct a transaction because the attacking side occupies all the space in the blocks. This can also be visible in validators’ data.
Delays in conducting operations can lead to network malfunctions. The reputation of the project targeted by such attacks can also suffer. As a result, users of problematic platforms may decide to switch to competitors’ sites. For this reason, the warring sides are spending billions of dollars on the attacks to benefit.
Read more: 51% Attacks on the Blockchain Explained: What Are the Dangers?
Duo Nine also noted that over 100 bot wallets could target Solana wallets with a spam attack. To do this, the attacking side bombards the victim with transactions containing minimal SOL. In this case, the analyst confidently states that the wallet owner loses the ability to transfer assets because the attacking side fills all the block space with spam transactions.
According to Duo Nine, victims of the attacks create new wallets, but the solution does not help, as the fresh address is also at risk of being targeted by a spam attack.
“A specific Solana wallet can be attacked by spamming it from +100 different bot wallets. You DDOS it every second with the smallest Solana unit… Because each block will be filled with receiving transactions, that wallet cannot send out any transactions! It’s effectively unusable,” Duo Nine stated.
The war leads to dissatisfaction among users of projects in the Solana ecosystem and angers developers. Duo Nine noted that it is “killing” Solana, and no solution to the problem has been found.
Questions about the network emerged in the spring of 2024, thanks to the hype around Solana meme coins. The interest in these altcoins became a reason for analyzing their security. In April 2024, Blockaid analysts found that half of the token presales on Solana were fraudulent.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
Interestingly, as early as 2022, many crypto community members predicted the project’s demise. One of the main investors in Solana was the FTX crypto exchange, which collapsed in November 2022. Still, Solana survived and managed to demonstrate growth.
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