Millions Lost: Next Crypto Hack: Thousands of Solana Wallets Affected | news

Another blow to Solana
Thousands of Solana wallets emptied
Research into the cause is still ongoing

For months, Solana (SOL), one of the top 10 cryptocurrencies, has not stayed out of negative headlines: on the one hand, there were several system crashes, for which critics blame a design error, on the other hand, imputed securities. The company behind the blockchain was shut down due to the illegal sale of . Now a large scale hacker attack has also started.

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Loss of millions due to hackers

The hacker’s attack began on August 2 and caused millions in losses: anonymous attackers were apparently able to transact with tokens as if they were owners through an unknown vulnerability. This suggests compromise of the private key.

In this connection, thousands of hot wallets were emptied and coins worth lakhs were stolen. The stolen cryptocurrencies are said to include both Solana’s SOL token and compatible currencies such as USD Coin (USDC). Wallet apps Phantom and Slope are said to be particularly affected, but users of SoulFlare and Trust Wallet are also. It is not yet clear whether compensation will be given to the victims.

background still unclear

The nature of the hack is still being speculated. According to Solana, however, it does not consider it a bug in the Solana network itself – neither the Solana protocol nor its cryptography has been compromised. Rather, only popular wallet software is affected. Victims should consider tampering with their wallet and stop using it.

Solana is still working on a clarification, but Solana’s CEO Anatoly Yakovenko has already tweeted that he believes a “supply chain attack” (supply chain) attack is possible, which is the case with Apple and Android phones. but affects the virtual wallet. In this type of attack, a hacker injects malicious software into an operating system, gaining access to information such as the private key for a virtual wallet.

In another tweet, the Solana project explained that the wallet software Slope may have compromised the private key and was therefore responsible for the theft. A preliminary analysis revealed that all affected addresses were either created using Slope’s mobile wallet application, imported or temporarily managed within this app.

What can Solana owners do?

One way to protect against this attack could be to transfer funds to a hardware wallet that is not connected to the Internet, as these have not been affected by the exploit so far. Crypto exchanges were probably also unaffected. Hence, Solana advises its users to quickly switch to either of these two options.

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