Late at night on Tuesday, August 3, 2022, several wallets on the Solana network were hacked. Today we will talk about what caused the Solana hack and how many Solana hacks. Let’s find out by reading the article below.
What caused the Solana hack?
The attack has already compromised other wallets, including Phantom, Slope, and TrustWallet. Initial reports indicated that Solflare users were also affected, but the company told TechCrunch that it was not affected by the bug. Solana warns that drained wallets should be considered compromised and abandoned, as it encourages users to switch to hardware or “cold” wallets.
Phantom, a fast-growing Solana-based wallet valued at $1.2 billion in January, said hours after the hack that it "doesn't think this is a Phantom-specific issue." The wallet developer later said it had "reason to believe that the reported vulnerability was due to complexities associated with Slope Finance importing and importing accounts. We are still actively working to determine if there may be other vulnerabilities that led to this incident."
Slope added that it is "actively working to resolve the issue as quickly as possible and correct it to the best of our ability," while non-fungible token (NFT) marketplace Magic Eden called on users to revoke any suspicious links in their Phantom wallets. The cause of the attack was unclear, but industry leaders including Emin Gün Sirer, founder of another popular blockchain, Avalanche, noted that transactions were signed correctly, meaning the breach could be a "supply chain attack" that Try to steal the user's private key. @0xfoobar added that "this may have resulted in a widespread private key compromise," warning that revoking wallet approval may not help. The Solana attack comes just hours after malicious actors abused the “Chaos” security flaw to steal nearly $200 million in digital assets from cross-chain messaging protocol Nomad. The “scramble” attack that drained more than 41 addresses of $152 million 80 percent of the stolen funds recently updated one of Nomad’s smart contracts to make it easy for users to make fraudulent transactions.
How many Solana Hacks?
In the early hours of Tuesday, August 2, 2022, a report from the solana twitter status stated that approximately 8,000 wallets had been hacked, with a loss of $8 million.
I hope this article will help you to learn what caused the Solana hack and how many Solana hacks. The hack targeted Solana’s browser wallets, specifically those that had been inactive for over six months.
