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Home » 8000 Crypto Wallets Compromised On Solana Blockchain

8000 Crypto Wallets Compromised On Solana Blockchain

  • Crypto
solana blockchain

In yet another major cryptocurrency hack, the popular blockchain Solana reported on Wednesday that an unknown bad actor had drained funds from 7,767 Solana Network wallets. SlowMist, a blockchain security firm, claimed that over 8,000 wallets worth approximately $8 million had been drained.

Solana is a high-performance Blockchain that helps developers all over the world build crypto apps that scale today. The attack targeted “hot” wallets, which are always connected to the internet and allow people to easily store and send tokens.

“Engineers from various ecosystems are investigating drained wallets on Solana with the assistance of several security firms. There is no evidence that hardware wallets have been impacted “Solana stated. Several wallets, including Slope & Phantom, have been affected by the exploit. This appears to have had an impact on both mobile and extension.

“There is no evidence that hardware wallets have been impacted, and users are strongly encouraged to use them. On a hardware wallet, do not reuse your seed phrase; instead, generate a new seed phrase “Solana kept us updated.

“Wallets that have been drained should be considered compromised and abandoned,” it added. Other wallets affected by the attack included Phantom, Slope, Solflare, & TrustWallet.

Phantom, a Solana-based wallet that was valued at $1.2 billion earlier this year, stated that it is “working closely with other teams to investigate a reported vulnerability in the Solana ecosystem.”

“At this time, the team does not believe this is a Phantom-specific issue,” said the wallet’s developer. This could be a “supply chain attack” that manages to steals users private keys.

The attack on Solana coincided with a “chaotic” attack on cryptocurrency service Nomad, with hackers draining nearly $200 million in digital funds from the company in a matter of hours.

Inputs from IANS.

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