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Solana-based Wallets Have Been Drained By Unknown Hackers

Solana-based Wallets Have Been Drained By Unknown Hackers

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Another day, another hack, this time targeting Solana-based wallets.

The Solana ecosystem seems to be the latest hacker target. Customers of Solana-based wallets such as Phantom, Slope and TrustWallet, have reported a loss of funds.

It is estimated that hackers stole about $8 million in funds from various crypto wallets.

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Although the cause of the hack has not yet been officially announced, blockchain researcher PeckShield has taken to Twitter to give his version. The user claims that hacking was the reason “supply chain problem”which was used to steal private wallet keys.

According to Solana’s condition Twitter posthacking affected exclusively mobile and extension users instead of hardware users. It is also estimated that “as of approximately 5:00 AM (UTC), 7,767 wallets have been affected.” It seems that hackers stole Solana’s original token SOL and USD Coin (USDC).

The hacking has only affected hot wallet users. These wallets always stay connected to the internet, making it one of the easiest ways to receive, store and send crypto files.

Users whose funds are not yet touched in Solana-based wallets are encouraged to transfer them to cold wallets.

After the event, Phantom and Slope shared their views on hacking on Twitter. Phantom claimed that the company is is working with other groups to identify the causes and consequences of this harmful theft.

The slope too used Twitter reassure customers and assure them that the company is working to identify and fix the problem.

Solana’s cryptocurrency after hacking The value of SOL has decreased by 4% in 24 hours.

Hackers have been very active in the past month. July 24, Audius hacked and was robbed of $1.08 million. On top of that, August 2 Nomad Bridge hacked and cleared almost all of its $190.7 million worth of assets in crypto.

Gile K. - cryptanalyst

by Gile K. – Crypto Analyst, BitDegree


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