The cyberattack resulted in thousands of customers' wallets being drained

A cyberattack on Solana, which resulted in the wallets of 8,000 customers being drained, could potentially lead to claims being made against its software developers and third-party service providers, according to international law firm RPC.

Dan Wyatt, partner at RPC, said: "If the hack resulted from defective coding, software or security failure, impacted customers could potentially pursue a claim against Solana’s developers or service providers.

"The recent Tulip Trading case has left the door open for claims in the UK courts against developers who failed to take reasonable care not to harm user interests, such as by introducing defects that could leave them vulnerable to losses. This reasoning woul...

Suzanne Townley
News Editor
Solicitors Journal

This article is part of a subscription-based access, to continue reading, please contact your library