Solana Suffers Huge Disruption as Bots Swamp Network with 4M Transactions Per Second

Anatoly Yakovenko, co-founder of Solana Labs, was accused of being “MIA” — after falling silent while the crisis unfolded. He later said he was traveling when the outage occurred.

 

Solana suffered a seven-hour outage over the weekend — the embattled blockchain‘s seventh blackout so far this year.

 

The Proof-of-Stake network was overwhelmed by a record-breaking four million transactions per second.

 

This affected the production of new blocks, and it’s believed bots using the NFT minting program Candy Machine were to blame.

 

Solana Labs co-founder Anatoly Yakovenko was accused of being “MIA” — missing in action — after falling silent while the crisis unfolded. He later said he was traveling as the outage happened.

 

SOL plunged by more than 10% in a matter of hours on Saturday night as the chaos unfolded — hitting lows of $82.91.

 

And although prices have rebounded, SOL’s value has fallen by 10% over the past seven days… making it the worst performer among the top 10 cryptocurrencies by market cap.

 

Repeated outages have called Solana’s reputation as an “Ethereum killer” into question, with some traders warning that the outage means the network is too unreliable.