analysis

Solana’s Yakovenko calls phishing crypto’s biggest threat

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Published
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2 new reports

Solana co-founder Anatoly Yakovenko said phishing and social engineering are the biggest security threats for crypto users. He also pointed to a setup using a dedicated iPhone in Apple’s Lockdown Mode together with a multisignature wallet as a lower-cost way to improve personal security.

Key claims & sources

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Anatoly Yakovenko said phishing and social engineering are the biggest security threats for cryptocurrency users.
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Yakovenko said hackers are a bigger threat to crypto users than AI or quantum computers.

What it means

Adopting Yakovenko's setup means buying a second iPhone used for nothing but signing transactions, enabling Lockdown Mode to block most remote exploits, and pairing it with a multisig wallet so no single device can move funds alone. Retail holders gain a cheap alternative to hardware wallets costing hundreds of dollars, while those who keep using single-key hot wallets on everyday phones remain exposed to the SIM-swaps and fake-support scams that already drain accounts daily.

Ranking hackers above AI and quantum computing as the real danger reframes where crypto's security debate should sit: not in cryptographic theory but in human behavior. It is a fair point, but also a convenient one for a protocol founder, since it moves attention away from smart-contract audits and validator security toward user error. Self-custody's promise was removing intermediaries, yet the practical advice now sounds like replicating an enterprise security team on a personal budget.

No deadline or vote is attached to this advice, so what will settle its reach is whether Solana wallet developers build Lockdown-style device isolation and multisig defaults directly into consumer apps rather than leaving it to individual users to assemble two devices and a smart contract wallet themselves. Watch whether major Solana wallets like Phantom or Backpack publish hardened, phishing-resistant signing flows in response to Yakovenko's warning.

Market reaction i

SolanaSOL it is the asset of the company or protocol in the event
first headline
+0.4% 2 h before
0.0% 4 h after
$93.46price at publication
12data points

The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.

Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Nov 3 17:29
+56 min
Nov 3 18:25
+16 h 59 m
Nov 4 10:28
U.Today echo
No new facts: identified, hackers, warning

Where this sits in the Solana series

WhenWhat happenedFigure
40 days ago SOL at $124.64 high today it sits -27.8% from there
today SOL at $88.98 low today it sits +1.1% from there

From what we have stored, starting 42 days ago.