This planned integration will allow ChainSwap users to perform same-chain and cross-chain token swaps on the Solana network, known for its high-speed transactions and low fees.

The integration, expected to launch in the coming months, will enable faster and more efficient token swaps across Solana and other popular blockchain networks such as Ethereum, Binance Smart Chain, and Polygon.

“Integrating Solana into our platform is a strategic step to improve the user experience and expand the range of supported blockchains,” said Fitzy, CEO and founder of ChainSwap. “Solana’s fast and affordable transactions make it a perfect fit for our platform, and we are excited to bring this option to our users in the near future.”

Once completed, the integration will offer:

• Same-Chain Swaps: Users will be able to swap tokens within the Solana network, leveraging its fast transaction speeds and low costs.
• Cross-Chain Swaps: Users will benefit from secure and efficient token swaps between Solana and other major networks like Ethereum, Polygon, and Avalanche.

Solana’s integration is an important step forward in ChainSwap’s mission to deliver an accessible and scalable platform for decentralized finance (DeFi) users, offering a broad range of multi-chain options to meet the growing needs of the DeFi ecosystem.

The entire amount taken was $580 million, but according to firm chief Changpeng Zhao, over 80% of it had been instantly frozen, and the harm was just about $100 million.

He tweeted that “an exploit” in the system led to extra production of the exchange’s dedicated currency, BNB, but insisted the issue had been “contained” and told his seven million followers: “Your funds are safe.”

It is among the biggest thefts in cryptocurrency history and comes in a year where scammers preying on the sector have got away with billions of dollars.

In the most damaging incident, the Axie Infinity blockchain game was hacked for more than $500 million in late March.

Both scams exploited weaknesses in “cross-chain bridges” — the means used by investors to move assets from one blockchain to another.

Blockchains are digital ledgers that store details of transactions — the biggest is bitcoin but there are thousands of others.

Binance, which dominates the sector and boasted of handling transactions worth $32 trillion last year, said in a statement that “a total of 2 million BNB was withdrawn”, which valued the heist at $580 million.

Zhao later clarified in an interview with MSNBC that most of those coins had been frozen.

Prominent crypto figures had taken to social media late on Thursday talking of a $600 million theft hours before the firm sent its first statement.

“Somebody on BNB just got hacked for (roughly) 2 million BNB,” wrote a developer who uses the name foobar on Twitter.

“The attacker is spewing funds across liquidity pools and utilising every bridge they can to get to safer chains. Complete chaos on the chain.”