The Solana SOL/USD blockchain appears to be facing an ongoing exploit that has compromised users’ private wallets across the ecosystem.
What Happened: On Tuesday, market participants reported a “potentially massive” hack on Solana.
Users’ crypto assets were stolen from a large number of accounts and then transferred to this wallet address.
Big news – @Solana hack!
In an unknown way scammers are withdrawing $SOL from the wallets of ordinary users right now!
The amount of stolen funds currently exceeds $5 million. I recommend unlinking your wallet from all sites so they don’t have access to your assets! pic.twitter.com/NVI5ULeCdB
— CIA Officer (@officer_cia) August 2, 2022
Widespread Solana private key compromise
– attacker is stealing both native tokens (SOL) and SPL tokens (USDC)
– affecting wallets that have been inactive for >6 months
– both Phantom & Slope wallets reportedly drained pic.twitter.com/AkZXOGLD0Q— foobar (@0xfoobar) August 3, 2022
“The solution is to transfer assets into a wallet which has never exposed a private key to potentially vulnerable browser extensions,” wrote DeFi auditor “foobar” on Twitter.
For less experienced users, transferring assets from an SOL wallet to a reliable central exchange would also be an approachable strategy, he noted.
At the time of writing, the root cause of the exploit was unknown and the Solana team had not issued an update on social media.
On-chain data showed that over $5 million worth of user funds had been drained from private wallets so far with the list of victims exceeding 6,000.
Price Action: At press time, SOL was trading at $38.04, down 6.4% over 24 hours.
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