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Solana-Based Hack Compromised Thousands of Wallets

Solana-Based Hack Compromised Thousands of Wallets

This is the third time a hack has been attempted this week. However, private keys have recently been the target of a worldwide attack, and it is uncertain how much damage has been done.

Hackers have stolen millions of dollars from the wallets of thousands of Solana users

An estimated $8 million has been lost from over 7,000 hacked wallets, according to on-chain statistics so far. According to Ava Labs CEO and founder Emin Gun Sirer, this figure has been increasing at a rate of almost 20 every minute.

PeckShield, a notable blockchain security expert, believes that the breach might have been caused by a “supply chain flaw” that was used to obtain user private keys from wallets that had been compromised.

SPL (USDC) and SOL (SOL) tokens were stolen from hot wallets by the attacker. It’s worth noting that the vast majority of those targeted had been dormant for at least six months before being identified.

Details

Users of hot wallets headquartered in Solana, such as Phantom and Slope, are being advised by experts to move their funds to cold wallets.

Unidentified blockchain investigator “zachxbt” noted the hacker’s wallet had been financed with Binance seven months earlier.

It was also inactive before the assault, and four distinct wallets were used by the hacker roughly 10 minutes before the occurrence.

According to Solana, 7,767 wallets were impacted by the incident, which was verified.

Solana Labs and other Solana-based protocols and teams are now working with Slope to figure out the problem, as well.

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