"Thousands of Solana Wallets Drained in Multimillion Dollar Exploit"

Solana, an increasingly popular blockchain known for its speedy transactions, has become hacked after users reported that funds have been drained from internet-connected “hot” wallets.  An unknown threat actor drained funds from approximately 8,000 wallets on the Solana network.  It’s estimated the loss so far is around $8 million.  Solana stated that 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.  A crypto analyst confirmed that the attacker is stealing both native tokens (SOL) and SPL tokens (USDC), affecting wallets that have been inactive for less than six months.  The attack has compromised other wallets, including Phantom, Slope, Solflare, and TrustWallet. Solana warned that wallets drained should be treated as compromised and abandoned, as it encouraged users to switch to hardware or “cold” wallets.  Phantom, a fast-growing Solana-based wallet that hit $1.2 billion in valuation in January, said it’s working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem.  At this time, Phantom does not believe this is a Phantom-specific issue.  Slope added that it is actively working to sort out the issue as rapidly as possible and is trying to rectify it the best it can.  Magic Eden, a non-fungible token (NFT) marketplace, called on users to revoke permissions for any suspicious links in their Phantom wallets.  The cause of the attack remains unclear, but industry leaders, including Emin Gün Sirer, founder of another popular blockchain Avalanche, pointed out that the transactions were properly signed, which means the vulnerability could be a “supply chain attack” that manages to steal users’ private keys.  The Solana attack comes hours after malicious actors abused a “chaotic” security exploit to steal almost $200 million in digital assets from cross-chain messaging protocol Nomad.

TechCrunch reports: "Thousands of Solana Wallets Drained in Multimillion Dollar Exploit"