Cryptocurrency

Tweet thread by Cardinal Labs

2023-06-28 [vendor] Cardinal Labs [chain] solana
Primary Source ↗
Blockchain(s) Solana

Incident Details

A little less than a year after raising $4.4 million in seed funding to build a Solana NFT protocol that allowed for NFT rentals and other such things, Cardinal Labs has announced they’re shutting down.“Product market fit continues to be difficult to find, and the reality is that members of our team are feeling the itch to explore other pursuits,” they wrote. “We’d hoped that by now the rest of the world’s industries would have begun adopting blockchain tech at a larger scale, but that still feels a ways away.”

Technical Details

Initial Attack Vector
Protocol collapse / insolvency
Vendor / Product
Cardinal Labs

Timeline

  1. 2023-06-28 Breach occurred
  2. 2023-06-28 Publicly disclosed