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- A hack on the Solana ecosystem affects thousands of wallets and nearly 4.5 million to 8 million USD.
- A crypto tracking and compliance platform, MistTrack shares the amount of USD that is worth 580 million in digital assets.
The Major Solana Wallet Hack
MistTrack shares on its Twitter account that USD worth 4.5 Million of SOL, USDC, USDT, BTC, and ETH were stolen.
On the other hand, the leading blockchain security company, PeckShield, predicted higher losses. PeckShield explained, “So far, the loss is estimated to be USD 8m, excluding one illiquid shitcoin (only has 30 holds & maybe misvalued [USD] 570M).”
After the hack, the users started reporting as they were unaware of their funds. While most of the internet-connected “hot” wallets, Phantom, Slope, and TrustWallet were affected under this hack.
While many users clarified that they did not get attached to any contract for more than 40 days, also, the blockchain auditor, OtterSec, shared information about some misinformation.
The team of Solana explained that the engineers from various ecosystems are working on the investigation with Security companies regarding the Solana wallet hack. The team said, “There is no evidence hardware wallets are impacted.”
The Phantom added, “at this time, the team does not believe this is a Phantom-specific issue.”
Although, the co-founder of Solana Labs, Anatoly Yakovenko, said, “Since system transfers are happening, that rules out delegation. There is no way an “interaction” could make a wallet vulnerable.”
He further added, “Multiple plausible wallets that only received sol and had no interactions beyond receiving have been affected,” […] “as well as keys that were imported into iOS, and generated externally.”
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The Solana hack affected the wallets on early Wednesday. The major fund loss is estimating the security firms. But also, this is affecting the price of SOL, which is currently running down 1.96% at $39.74 USD.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
