More than 8000 Solana wallets were hacked

What’s new? The Solana blockchain has been subjected to a major hacking attack, as a result of which attackers managed to withdraw millions of dollars from users’ wallets. Analysts at Watcher Guru report the theft of more than $7 million in SOL tokens and USDC stablecoins.

News on the Watcher Guru website

What else is known about the incident? The attack was carried out by organizing a massive exploit and compromising the private keys of users’ hot wallets. Phantom, Trust Wallet, and Slope wallets were the most affected, remaining inactive for more than 6 months. More than 8000 addresses were hacked, according to Watcher Guru.

Phantom representatives stated that they are cooperating with other teams to find out the causes of a discovered vulnerability in Solana and do not believe that the problem is related to Phantom.

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 (@phantom) August 3, 2022

Changpeng Zhao, the head of the Binance exchange, confirmed that more than 7000 wallets have already been affected and recommended that users transfer funds from hot wallets to cold or centralized exchanges.

There is an active security incident on Solana. Many (7000+ and counting) wallets are drained of SOL & USDC. Don't know root cause yet. Maybe permissions granted to apps. For remediation, send the funds to a cold wallet or CEX like @Binance. https://t.co/nQrBXAgCbf— CZ 🔶 Binance (@cz_binance) August 3, 2022

Solana representatives recommended using hardware wallets, for which a new seed phrase should be created. In this, compromised wallets should be abandoned.

There’s no evidence hardware wallets have been impacted – and users are strongly encouraged to use hardware wallets. Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned.— Solana Status (@SolanaStatus) August 3, 2022

The price of the native token of the Solana (SOL) blockchain reacted to this news by falling. As of August 3, 07:40 UTC, SOL is trading at $38,57, down by 4,37% in 24 hours, according to Binance.

Earlier, representatives of Halborn, a blockchain security company, reported that MetaMask crypto wallet’s users were the threat of phishing attacks. They are being sent fake messages asking them to provide a seed phrase on a third-party website, supposedly to confirm that the wallet belongs to the owner.