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Solana ecosystem hit by hack draining millions in crypto from 8,000 hot wallets - The Verge

The Solana ecosystem has been hit by a major hack, with thousands of connected wallets operated by third parties like Slope and Phantom drained of funds. Solana says it is investigating the attack.

Hackers have targeted the Solana ecosystem, draining crypto funds from thousands of “hot” wallets connected to the internet. Such attacks are common among blockchain platforms, but the news is still significant given the praise Solana has attracted as one of the faster and cheaper ecosystems for trading digital assets.

It seems hackers have been able to steal both Solana’s own cryptocurrency (SOL) and some compatible with the Solana blockchain, like the stablecoin USD Coin (USDC). As the attack is ongoing, the value of the assets stolen is not clear, but reports from independent analysts and security firms like PeckShield estimate the losses are worth as much as $8 million.

Solana has struggled with security incidents in the past, including bot spam and reported Distributed Denial of Service, or DDoS, attacks. Meanwhile, it’s also taking deposits for the Saga phone that it says will launch next year with support for the network’s decentralized apps built-in.

This does not appear to be a bug with Solana core code, but in software used by several software wallets popular among users of the network. Updates will be posted to https://t.co/ivyoIbdCDP as they become available. 2/2

https://www.theverge.com/2022/8/3/23290149/solana-ecosystem-blockchain-attack-hack-wallets-phantom-slope-supply-chain


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