Thousands of Solana wallets emptied due to multi-million dollar vulnerability

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Solana, an increasingly popular blockchain known for its fast transactions, has become the target of the latest hack in the cryptosphere.

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An unknown actor withdrew funds from 7,767 wallets on the Solana network as of 5:00 UTC on Wednesday, according to the Solana Status Twitter account. said. Least four wallets were identified as being linked to an exploit that stole funds at least $5 million.

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Solana’s spokesman Chris Kroiter declined to answer our questions, but referred us to Solana’s Twitter account.

So far, the hack has only affected “hot” wallets, or wallets that are always connected to the internet, making it easy for people to store and send tokens.

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Phantom, a fast growing Solana-based wallet that reached $1.2 billion in valuation in January, said it is “working closely with other teams to sort out a discovered vulnerability in the Solana ecosystem.”

“At this time, the team does not believe this is a Phantom-related issue,” says the wallet developer.

The attack compromised other wallets including Slope, Solflare and TrustWallet. Solana warned that depleted wallets should be treated as compromised and abandoned as it encourages users to switch to hardware or cold wallets.

The reason for the attack remains unclear, but industry leaders, including Emin Gün Sirer, founder of another popular Avalanche blockchain, indicated that the transactions were properly signed, which means the vulnerability could be a “supply chain attack” that allows users’ private keys to be stolen.

This is an evolving story.




Credit: techcrunch.com /

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