Solana wallets attacked

Solana Hack sees over 8,000 wallets attacked so far, source unknown.

Solana wallets have been hacked. The crypto community has been constantly  under attack for the past few months. Multiple projects and tokens have been the victims of hacks that have left holders with tremendous losses. The newest attack came late yesterday as many Solana wallets have been drained of their assets and the culprit is still unknown.

in the early evening of August 2, 2022 many outlets began reporting on the situation at hand and warning the community as a whole.

At the time of this writing ( Aug,3 morning EST) the attack is still continuing with currently more than 8,000 users affected. There have been several addresses linked to the attack as those wallets have been noticed to have accumulated $5M worth of SOL , SPL, and other Solana based tokens from unsuspecting users.

The wallets can be found here,here,here, and here.

All the accounts have been tagged “compromised” by The cause of the hack has not been discovered but it has been noted that most of the attacks are on mobile wallet users. The attacker has somehow gained the ability to initiate and approve transactions on the users behalf, this suggests a third party service may be the key to the hacks.

This is another shot at “hot wallets” or wallets that stay online as opposed to “cold wallets” ones that can only access the funds when plugged into a terminal.

The fact is there has not been a definitive explanation or an exact starting point has not helped either. Some are stating this is a Magic Eden and Phantom issue with the two platforms not accepting the blame but making strides to aid in the situation.

As Phantom made a direct denial of involvement Magic Eden let out a warning to all users. Currently Twitter is flooded with reports of Solana users noticing tokens that have been suddenly taken from their wallets. The hack currently seems to be Solana based only but some users are stating a loss of USDC on the Ethereum Chain as well.

This all comes on the tail of Solana’s update that is intended to solve the network outage problems. Sentiment on the platform has been mixed as many see Solana as very low security and full of issues. The Solana Labs has plans for a mobile operating system for Solana that is planned for a 2022-2023 release.

Leave a Reply