Phantom wallet releases findings after investigation after $4 million hack.

Phantom wallet has released its findings in response to the $4M hack that happened late last week. The Solana-based crypto wallet provider investigated things on their end and found no vulnerabilities.

The Solana web3 wallet was able to clarify their involvement in the hack late Tuesday night. The findings were that the systems of Phantom were not compromised. 

The attack cleared out the wallets of over 9000 users in the end and many were  quick to blame Solana and Phantom for the issues. Later findings showed that the Solana chain was uninterrupted and had nothing to do with the hack, the recent findings of the Phantom Wallet team seem to clear them of any wrongdoing as well.

Phantom released a thread on Twitter that spoke on the issue stating that after a near week-long investigation there was no evidence of any vulnerabilities that could possibly be tied to the wallet.

The hack was eventually tracked to a single wallet using the Slope wallet protocol and not Phantom with the Solana team stating that all hacked addresses being created on the Slope application at one point.

The investigation’s findings were also confirmed by security firm Otter which was able to report that the seed phrases that were generated by Slope wallet were being mistakenly sent to its server and saved in plain readable text.  This may have led to the breach as it gave hackers what they needed to acquire private information and hack the wallets.

Leave a Reply