7,767 Solana Wallet has fallen victim to an attack and millions have been stolen
Take Away points
- Solana’s wallet has been hacked and millions have been stolen
- Sol, Solana native token drops as news of the attack broke
- Solana, engineers from other ecosystems, and several security firms are working to find out the root cause of the attack.
The Solana Wallet Attack
Solana’s (SOL) wallet has been hacked, and millions have been stolen. As of press time, the report states that 7,767 Solana wallets have fallen victim to the hack.
In today’s update, Solana says that they are working with engineers and several security firms to investigate the attack and still haven’t found the root cause of the exploit.
“Engineers are currently working with multiple security researchers and ecosystem teams to identify the root cause of the exploit, which is unknown at this time.”
Still investigating the attack, Solana “encouraged” their users to use hardware wallets as it has not been “impacted”.
“There’s no evidence hardware wallets have been impacted-and users are strongly encouraged to use hardware wallets. Do not reuse your speed phrase on a hardware wallet-create a new seed phrase. Wallets drained should be treated as compromised, and abandoned.”
As a result of the hack, Solana native token SOL has fallen in the last 24 hours according to the company report chart.
Reactions to the Solana Wallet Attack
Few users began to reach out to Phantom and other wallet providers for an update on the current situation. Phantom, while responding to it, said they are working with other teams “to get to the bottom of a reported vulnerability in the Solana ecosystem”.
“We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue. As soon as we gather more information, we will issue an update,” Phantom replied.
This is not the first time hackers are stealing from Defi platforms since this year according to Chainalysis, Defi analytic platform.. Defi platforms like Ronin network, Wormhole, Harmony, Bitmart, BadgerDAO, and Poly network were hacked and millions of money were stolen as reported by Chainalysis.
Solana also provided a source for affected users to reach out to.