Tech »  Topic »  Thousands of Solana wallets drained in multimillion dollar exploit

Thousands of Solana wallets drained in multimillion dollar exploit


Solana, an increasingly popular blockchain known for its speedy transactions, has become the target of the crypto sphere’s latest hack after users reported that funds have been drained from internet-connected “hot” wallets.

An unknown actor drained funds from 7,767 wallets on the Solana network as of 5am UTC on Wednesday, Solana’s Status Twitter account said. However, blockchain security firm SlowMist’s crypto tracker identified that more than 8,000 wallets had been drained. It’s estimated the loss so far is around $8 million.

The attack – which has only affected only “hot” wallets or wallets that are always connected to the internet, allowing people to store and send tokens easily – does not appear to be limited to Solana. Justin Barlow, an investor at Solana Ventures, reported that his USDC balance was drained as well. Crypto analyst @0xfoobar confirmed that “the attacker is stealing both native tokens (SOL ...


Copyright of this story solely belongs to techcrunch.com/enterprise/ . To see the full text click HERE