Fan Club for Solana's Saga Phone Loses 750 SOL to Hack

Saga DAO, a community-run fan club for Solana’s sellout mobile phone lost much of its treasury Wednesday to a hacker who made off with 750 SOL, worth roughly $60,000.

A hacker appears to have targeted Saga DAO’s pseudonymous founder zkRedDevil. In a post on X (formerly Twitter), zkRedDevil said they suffered a “remote hack” to their personal PC that drained their and the group’s SOL, which had been held in a wallet zkRedDevil said was meant to have multisig protections but did not.

The hack is a major financial setback for weeks-old Saga DAO, which at the moment is mostly a Discord server where Saga owners talk about the perks their phones are receiving, including free tokens and NFTs. Saga DAO’s lost SOL came from its selling of a “pre-launch shitcoin” it had received less than a week ago, according to posts in its Discord.

After the windfall, Saga DAO’s founders had accelerated efforts to build up the group with formal policies and governance mechanisms that would empower owners of the Saga phone, which are Android devices that have special crypto capabilities on Solana.

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2024-01-24 19:17