September 24, 2022

Hackers have targeted Solana users with millions of funds being drained from thousands of wallets.

Data on the chain shows that, so far, losses have been estimated at around $8 million from over 7,000 in danger wallets. That number is growing at about 20 a minute, according to Ava Labs CEO and founder Emin Gun Sirer.

  • The attacker remains unknown, but according to the prominent blockchain security expert PeckShieldthe breach could potentially be due to a “supply chain issue” that was exploited to steal user private keys behind the affected wallets.
  • The attacker managed to capture both native (SOL) and SPL (USDC) tokens from hot wallets. Notably, the majority of those 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 move their funds to offline cold wallets.
  • Blockchain Anonymous, zachxbt, noticed that the hacker’s wallet was funded through Binance seven months ago.
  • In addition, it was idle before the attack and four different wallets were used by the hacker about 10 minutes before the event.
  • Solana confirmed the breach and revealed that there are approximately 7,767 wallets affected by the breach.
  • The gradient has too confirmed that it is currently working with Solana Labs and other Solana-based protocols and groups to get to the bottom of the issue.
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