Solana Saga DAO Founder Faces $60K Inside Job Hack Accusations

zkRedDevil claimed to have lost over 700 SOL to a cyberattack but faces accusations of orchestrating the hack for personal gain.

Man seeing Solana coins go into red.
Created by Kornelija Poderskytė from DailyCoin
  • Solana Mobile fan club founder zkRedDevil is accused of staging a Saga DAO hack.
  • The founder alleged that an attacker siphoned off multiple hundreds of SOL.
  • The DAO community has called for justice and the refund of the stolen SOL.

Crypto hacks and scams have been a major concern for the industry as the unrelenting wave continues to challenge the ecosystem’s stability. On Wednesday, January 24, the founder of the sell-out Solana Saga mobile DAO announced that he fell prey to a “remote” hack, resulting in the loss of 750 SOL, valued at nearly $60,000.

In a surprising twist, emerging evidence suggests otherwise, pointing to the potential of a personally orchestrated hack with intentions to defraud the ecosystem.

Saga DAO Hack Inside Job?

Following a Wednesday tweet detailing a supposedly devastating cyberattack by zkRedDevil, the pseudonym of the founder of the Solana Saga Mobile DAO, X user Metapozza unveiled proof that the fan club founder may have redirected the funds for personal gain.

Metapozza’s allegations hinge on the observation that the account receiving the pilfered 750 SOL from the Saga DAO hack is linked to zkRedDevil, as indicated in a previous tweet by the fan club founder.

While the claims remain unproven, they have rapidly spread among community members, prompting demands for the refund of the stolen assets. Members are urging the enforcement of justice, intensifying efforts to involve law enforcement agencies and on-chain detectives.

zkRedDevil denied the allegations, and asserts that the fund loss resulted from his mistakes and a security lapse, which also impacted his personal funds. Additionally, the accused has since locked his official X account, restricting public access.

Find out how to stay safe from SIM swapping and similar crypto scams:
How to Prevent a SIM Swap Attack as SEC Falls Prey

Read more about the Ethereum ETF and the likelihood of approval:
Ethereum ETF: “Let Americans Decide” SEC Commissioner Urges

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.