Solana Hot Wallets Suffer Ongoing Attack, Roughly $5M Stolen Thus Far
We’re on the heels of cross-chain bridge Nomad suffering a demolishing hack earlier in the week, and now hackers are doubling down with an attack on Solana hot wallets mid-way through the week. On Tuesday afternoon, reports emerged of some sort of vulnerability that was taking advantage of Solana-based wallets. Approaching 24 hours later, there are still quite a bit of unknowns, and we’re approaching nearly $5M of hacked funds. Let’s take a look at what we do know so far. A Solana Scare Nearly 10,000 wallets across mobile users utilizing both Slope and Phantom (two of the....
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Solana users have been urged to move their funds to cold storage and be alert to possible scams after a major exploit of thousands of wallets sees more than $8 million stolen. The cryptocurrency ecosystem has been rocked by a widespread exploit targeting Solana wallets that have been ongoing since Aug. 3. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms, alongside a host of cryptocurrency influencers, blockchain analytic and security firms and victims of the hack as it continued to unfold.A handful of commentators noted that....
Web3 wallet provider Slope has been connected to the recent hack of Solana-based wallets. As the dust settles from yesterday’s Solana ecosystem mayhem, data is surfacing that wallet provider Slope is largely responsible for the security exploit that stole crypto from thousands of Solana users.Slope is a Web3 wallet provider for the Solana layer-1 (L1) blockchain. Through the Solana Status Twitter account on Aug. 3, the Solana Foundation pointed the finger at Slope stating that “it appears affected addresses were at one point created, imported, or used in Slope mobile wallet....
The $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece. Solana-based algorithmic stablecoin NIRV has become the latest stablecoin to fail, after dropping 85% from its dollar peg following a hack on adaptive yield protocol Nirvana Finance on Wednesday. The flash loan attack, which also saw Nirvana Finance’s native token ANA drop by 85%, resulted in the loss of $3.49 million worth of Tether (USDT), with the SolanaFM team being the first to confirm that the funds were siphoned via a flash loan attack on....
Parallel to the ongoing investigations of the Solana fiasco, CZ warned investors of “an active security incident on Solana” that drained funds in SOL and USDC off over 7000 wallets. With Solana hitting the headlines for succumbing to a hack on Wednesday, prominent crypto CEOs — including Binance’s Changpeng “CZ” Zhao, KuCoin’s Johnny Lyu and OKX’s Jay Hao — recommended that Solana (SOL) investors move their holdings over to their own exchanges as an immediate security measure.Numerous blockchain investigators and crypto investors flagged an alleged widespread private key compromise,....
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