{"id":50727,"date":"2022-08-03T13:29:46","date_gmt":"2022-08-03T11:29:46","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=50727"},"modified":"2022-08-03T13:29:46","modified_gmt":"2022-08-03T11:29:46","slug":"thousands-of-solana-wallets-are-compromised-in-a-multi-million-hack","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/thousands-of-solana-wallets-are-compromised-in-a-multi-million-hack\/","title":{"rendered":"Thousands of Solana Wallets are Compromised in a Multi-Million Hack"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\">There has been a concerning increase in the <strong>hacks on cryptocurrency protocols<\/strong>. In a recent incident, hackers targeted users of <strong>Solana<\/strong>. As per initial estimation, <strong>millions of funds<\/strong> have been compromised from<strong> thousands of users<\/strong>. Moreover, the attack was launched on <strong>private keys<\/strong> and the exact amount of the damage is still <strong>unclear<\/strong>.<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">In addition to this, the <strong>on-chain data<\/strong> shows that around <strong>$8 million<\/strong> has been stolen from more than <strong>7,000 wallets<\/strong>. The number of compromised wallets is increasing at almost <strong>20 per minute<\/strong>. The<\/span><strong> data<\/strong><span style=\"font-weight: 400\"> was shared by the <strong>Founder and CEO of Ava Labs, Emin G\u00fcn Sirer<\/strong>. He added that such an attack does not only impact the users of Solana but also the entire <strong>crypto arena<\/strong>.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">There&#39;s an ongoing attack targeting the Solana ecosystem right now. 7000+ wallets affected, and rising at 20\/min. Because it&#39;s very early and the attack is ongoing, there&#39;s a lot of misinformation and speculation. So here are a few thoughts and clarifications.<\/p>\n<p>&mdash; Emin G\u00fcn Sirer\ud83d\udd3a (@el33th4xor) <a href=\"https:\/\/twitter.com\/el33th4xor\/status\/1554656344036126720?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: justify\"><span style=\"font-weight: 400\">A Supply Chain Issue Might Have Led to the Solana-Based Hack<\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">As per initial reports, the attack vendor is <strong>yet<\/strong> to be identified. However, experts are anticipating that a <strong>potential supply chain issue<\/strong> was exploited to steal user keys. It eventually led to the hacking of wallets. Mostly, hackers drained the wallets for <strong>SOL and SPL (USDC)<\/strong>. Most of these wallets were inactive for over <strong>six months<\/strong>.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Both <strong>Phantom and Slope<\/strong> are Solana-based wallets, and they have been <strong>exploited<\/strong> by hackers. Therefore, many experts have advised users to transfer their assets into <strong>offline cold wallets<\/strong>. The funds of these users are at <strong>potential risk<\/strong>. Thus, they should take <strong>precautionary measures<\/strong> rather quickly.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-50730\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/code-1689066_1280-1.jpg\" alt=\"Solana attacked\" width=\"699\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Furthermore, <strong>anonymous blockchain detectives<\/strong> have discovered that the wallet of the hacked was funded through <strong>Binance<\/strong> around seven months ago. The wallet was <strong>dormant<\/strong> before the attack was initiated. Before the attack, hackers used <strong>four different wallets<\/strong>. These were used <strong>10 minutes prior<\/strong> to the attack.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Solana has<\/span><strong> confirmed<\/strong><span style=\"font-weight: 400\"> the breach. The network revealed that more than <strong>7,760 wallets<\/strong> were compromised in the attack. Moreover, it explained that engineers are working alongside <strong>security researchers and ecosystem teams<\/strong> to identify the primary cause behind this attack. The platform also encourages users to use hardware wallets with a new <strong>seed phrase<\/strong>.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted. <\/p>\n<p>This thread will be updated as new information becomes available.<\/p>\n<p>&mdash; Solana Status (@SolanaStatus) <a href=\"https:\/\/twitter.com\/SolanaStatus\/status\/1554658171934937090?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Additionally, Slope also<\/span><strong> tweeted<\/strong><span style=\"font-weight: 400\"> that they are working to <strong>rectify<\/strong> the issue. The platform stated that they will have more answers once they are through <strong>investigations<\/strong>. Many users and consumers have expressed their <strong>concerns<\/strong> over this attack. They shared the amount drained from their accounts through <strong>replies to these tweets<\/strong>. Lately, Solana has struggled amid several<strong><a href=\"https:\/\/crypto-economy.com\/the-solana-network-has-an-interruption-again-and-its-token-over-drops-10\/\"> hacking<\/a> attempts<\/strong>. This has had a toll on the performance of its native token, <strong>SOL<\/strong>.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">To all those currently affected by the breach on Solana, please know we are actively working to sort out the issue as rapidly as possible and rectify best we can.<\/p>\n<p>We will be in touch as soon as we have answers.<\/p>\n<p>&mdash; Slope (@slope_finance) <a href=\"https:\/\/twitter.com\/slope_finance\/status\/1554643718275305473?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been a concerning increase in the hacks on cryptocurrency protocols. In a recent incident, hackers targeted users of Solana. As per initial estimation, millions of funds have been compromised from thousands of users. Moreover, the attack was launched on private keys and the exact amount of the damage is still unclear.<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4708,5348],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/50727"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=50727"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/50727\/revisions"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=50727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=50727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=50727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}