The Solana ecosystem appears to have suffered a close to $ 6 million hack, wiping off Solana tokens ( SOL) on a few hot wallets on Tuesday evening. The details about the hacker remain unknown as of today. The hack has occurred on Phantom, Slope, and Trust wallets wiping off the assets of close to 8000 accounts as per Blockchain auditor Otter Sec. While users pointed out that the hack has occurred on Phantom wallets, the company has denied the claim quoting “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” via a Twitter post.
Slope said that they are currently working with Solana labs to rectify this issue and get to the exact root cause of the compromise via a Twitter post.
The hack could have occurred as a result of exposing private keys to a browser extension leading to a potential compromise as per reports.
Otter Sec has posted images on Twitter showing the hot wallets being compromised. Hot wallets are Crypto wallets connected to the internet at all times, these are different from exchange wallets. The attacker was able to sign and initiate transfers on behalf of users suggesting a private key compromise.
Solana is currently the 9th largest Crypto asset with a market capitalization of $ 13 billion. At the time of writing, Solana has dropped by roughly 3.85% in the last 24 hours as per Coinmarket Cap.
How to keep your holdings safe
Wallet Security:
Always ensure that your wallets are secure and never share your private keys with anyone.
Beware of Scamsters:
ZebPay never asks users to share any information via email, phone, or Social Media. Beware of impersonators who pretend to represent the company. There may be no recourse from loss in such transactions.
Free money scams:
Never give into scams that promise to multiply your wealth. No market assets can promise assured returns, and it’s important to note that there is a risk associated with Cryptos which are subject to market conditions.
While this hack has occurred on hot wallets, holders of Solana on Crypto Exchanges don’t need to worry about this. Your holdings are safe on your Zebpay wallet. At Zebpay customer asset safety is our top priority and we consistently strive to make Crypto trading experiences better for you.
