12:52:07 PM PDT - Wednesday, August 10th, 2022

Thousands of Solana wallets drained in multimillion dollar exploit  

By Editor - Wed Aug 03, 1:35 am

Solana, an increasingly popular blockchain known for its speedy transactions, has become the target of the crypto sphere’s latest hack after users reported that funds have been drained from internet-connected “hot” wallets. An unknown actor drained funds from 7,767 wallets on the Solana network as of 5am UTC on Wednesday, Solana’s Status Twitter account said . However, blockchain security firm SlowMist’s crypto tracker identified that more than 8,000 wallets had been drained. It’s  estimated the loss so far is around $8 million. The attack – which has only affected only “hot” wallets or wallets that are always connected to the internet, allowing people to store and send tokens easily – does not appear to be limited to Solana. Justin Barlow, an investor at Solana Ventures, reported that his USDC balance was drained as well. Crypto analyst  @0xfoobar confirmed that “the attacker is stealing both native tokens (SOL) and SPL tokens (USDC)… affecting wallets that have been inactive for less than 6 months.” The attack has compromised other wallets including Phantom, Slope, Solflare, and TrustWallet. Wallets drained should be treated as compromised and abandoned, Solana warned as it encouraged users to switch to hardware or “cold” wallets

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Thousands of Solana wallets drained in multimillion dollar exploit

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