Saga DAO, a community-run fan club created for Solana's popular mobile phone, suffered a significant loss on Wednesday.
A hacker managed to steal 750 SOLs, equivalent to approximately $60,000, causing a major setback for the organization that had been operating for weeks.
This amount represents 60% of the Saga DAO treasury.
Operating primarily through a Discord server, Saga DAO operated as a platform where Saga phone owners discussed the various benefits they were receiving, including free tokens and NFTs. The lost SOL was part of the funds accumulated from the sale of the “pre-launch shitcoin” that DAO took delivery of less than a week ago.
However, the DAO has been criticized because the approval of even one of the 12 signatories is sufficient to move funds from the multisig wallet.
The attack appears to have targeted zkRedDevil, the founder of Saga DAO. In a post published on X (formerly Twitter), zkRedDevil revealed that they had been “remotely hacked” on their personal computers. This attack resulted in the theft of both his personal and the group's SOL coins.
*This is not investment advice.