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The network suffers a multi-million dollar hack, wallets are depleted

Solana attack: The Solana network suffered a multi-million dollar attack on Wednesday as horrified users realized their wallets had been drained of all their money.

Hacker successfully drained 6 million dollars in a smash and grab raid on user wallets.

The exact attacker remains unknown, with speculation mounting as to the cause of the vulnerability.

Solana attack: A sudden emerging crisis

Contributor to the Solana ecosystem @SolportTom was one of the first to raise the alarm about the exploit on Twitter.

“There was no mint that happened at the time of the drain,” said Tom on August 3. “The transactions are like regular transfers, not contract transfers. That’s the whole ecosystem, people are speculating that it’s about a gambling service.”

While some users were quick to link the hack to the Phantom wallet, the company was just as quick to deny such claims.

“We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem,” he said. Ghost. “At this time, the team does not believe this is a Phantom-specific issue.”

Crypto Twitter user and crypto developer @0xfoobar had his own theory about the cause, linking the attack to a widespread private key compromise. According to foobar both Phantom and Slope wallets are affected, lending some credence to Phantom’s claims.

“The solution is to move assets to a wallet that has never exposed a private key to potentially vulnerable browser extensions,” foobar said. “That means hardware wallets, nothing else.”

Send to Cold wallet and Revoke access

In the absence of a concrete explanation for the attack, Solana users have been advised to revoke access to everything and send all their cryptocurrency to a hardware wallet. For users without a hardware wallet, sending all funds to a central safekeeping center is an acceptable temporary solution.

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