Solana Foundation Patches Critical Bug That Allowed Attackers to Mint Tokens

Solana (SOL) developers and validators at the Solana Foundation have fixed a critical bug that could have allowed attackers to potentially mint certain tokens on the blockchain and even withdraw them from user accounts.

The issue, which was discovered on April 16, stemmed from a missing algebraic component in the ZK ElGamal proof system used for private balance verification. This vulnerability could have been exploited by attackers to forge invalid zero-knowledge proofs and steal Token-22 confidential tokens, Solana’s privacy-focused assets.

The Solana Foundation promptly deployed patches after discovering the flaw, and most validators updated their software just two days later. The vulnerability affected two key programs: Token-2022, which handles token logic, and ZK ElGamal Proof, employed for privacy features.

Despite the severity of the bug, no exploits were reported, and user funds remained safe throughout the incident. However, the Foundation faced backlash from the community for privately contacting validators about the issue, raising concerns about centralization and the possibility of validator collusion.

The Solana (SOL) price has shown strength despite recent consolidation. Over the past week, the cryptocurrency's price has remained stable, with a 20% gain on the monthly chart.

As the cryptocurrency continues to rise, analysts are setting higher price targets of $200 and above.

The crucial support level that could keep the cryptocurrency afloat for several more months will be the horizontal support at $100, according to crypto analyst CryptoBullet.

“$SOL had a great monthly close. It held the Key Horizontal levelAs I said, we will spend several months above that level before the inevitable breakdownTarget/Rejection Zone: $190-230 🔨”

This could lead to a decent price target range of $190-$230 for the cryptocurrency in the months ahead, according to the analyst.

Moreover, the Solana blockchain has hit key milestones during the first quarter of 2025, outpacing top peers like Ethereum and Cardano in terms of revenue generation.

The meme coin trading activity on the platform has picked up pace. According to data from Token Terminal, Pump.fun has generated an impressive $294 million in fees year-to-date, surpassing Ethereum’s $249 million.

According to Token Terminal, PumpFun has captured $294 million in fees so far this year, exceeding Ethereum’s $249 million. Additionally, PumpFun's weekly fee capture level has surpassed Ethereum for 9 consecutive weeks.https://t.co/sOEC6RF2Do

— Wu Blockchain (@WuBlockchain) May 5, 2025

The report further highlights that Pump.fun has also maintained a higher weekly fee capture than Ethereum for nine consecutive weeks, signaling its growing dominance in the market.