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The CEO of the FTX cryptocurrency exchange, amid problems with the Solana network, recalled that the project had previously encountered failures and only became more successful after them.
Sam Bankman-Fried said in an interview that Solana is undervalued by investors. Faced with a million-dollar wallet hack, the project will bounce back quickly, he said. The businessman assured that the blockchain has great potential and wide opportunities:
“SOL is the most undervalued cryptocurrency right now. At least she was like that a month ago.
According to the head of FTX, the hackers used one of the applications as a loophole. The Solana project has overcome many difficulties in its life and will continue to develop further:
“Solana had a lot of bad publicity, but the project overcame it. I think that he has already passed two thirds of the way. I am sure that the remaining third will also be successfully completed. Any blockchain would break if it tried to do what the Solana network did. It was a chance to figure out what needs to be improved and what needs to be improved.”
It should be noted that the head of the FTX cryptocurrency exchange is closely connected to Solana through several companies. Bankman-Fried invested in the project through his company Alameda Research. He also participated in a $314 million Solana Labs funding round and the creation of a decentralized exchange called On Solana called Serum.
This week, hackers gained access to thousands of Solana network user wallets through the Solana Magic Eden blockchain-based collectible token trading platform.
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