Network suffers multi-million dollar hack, wallets emptied

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

Hackers successfully drain traffic $6 million In the smashing and snatching of user wallets.

The exact vector of the attack is still unknown, and speculation is growing about the cause of the vulnerability.

Solana Attack: A Sudden Crisis

Solana Ecosystem Contributors @SolportTom Was one of the first to alert on the exploit on Twitter.

“Drained without any mints,” Tom said August 3“These transactions look like normal transfers, not contract transfers. It’s the whole ecosystem, and people speculate it’s related to gambling services.”

Solana Attack

While some users were quick to link the hackers to the Phantom wallet, the company was quick to deny the claims.

“We are working closely with other teams to identify reported vulnerabilities in the Solana ecosystem,” said phantom. “Currently, the team does not believe this is a Phantom-specific issue.”

Crypto Twitter users and crypto developers @0xfoobar Has his own theory for the cause, linking the attack to widespread private key compromise. According to foobar, both the Phantom and Slope wallets were affected, which lends some credibility to Phantom’s claims.

“The solution is to move the assets to a wallet that never exposes the private key to a potentially vulnerable browser extension,” foobar said. “It means hardware wallets, that’s all.”

Send to cold wallet and revoke access

Without a clear explanation of the attack, Solana users are advised to revoke access to all content and send all cryptocurrency to hardware wallets. For users without hardware wallets, sending all funds to a centralized custodial exchange is an acceptable temporary workaround.

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