Thousands of Wallets Compromised in Ongoing Solana-Based Hack

The hackers have targetted Solana users with millions of funds being drained from thousands of wallets.

On-chain data shows that, so far, the losses have been estimated to be around $8 million from over 7,000 compromised wallets. This number has been rising at around 20 per minute, according to Ava Labs CEO and founder Emin Gun Sirer.

  • The attack vector remains unknown, but, according to the prominent blockchain security expert PeckShield, the hack could potentially be due to a “supply chain issue” that was exploited to steal user private keys behind affected wallets.
  • The attacker managed to nab both native tokens (SOL) and SPL (USDC) from hot wallets. Notably, a majority of the them that were targeted have been inactive for more than six months.
  • Solana-based hot wallets such as Phantom and Slope have been targeted and experts have warned users to transfer their funds into offline cold wallets.
  • Anonymous blockchain sleuth, zachxbt, observed that the wallet of the hacker was funded via Binance seven months ago.
  • Moreover, it was dormant before the attack, and four different wallets were used by the hacker around 10 minutes before the event.
  • Solana confirmed the breach and revealed that there are some 7,767 wallets affected by the breach.
  • Slope has also confirmed that it is currently working with Solana Labs and other Solana-based protocols and teams to get to the bottom of the issue.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

You Might Also Like:


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

Source