Reports: More Than $5.7 Million Stolen in Solana Exploit

Four wallets have been draining balances from accounts on the Solana blockchain Tuesday evening stealing more than $5.7 million from users, according to Solana chain data. @SolportTom first warned users to send assets they may have in Phantom wallets to a ledger or a new fresh wallet. Users are reminded to check the connections on their Phantom wallets and revoke the connections they have to websites to be safe. 

Assets have been reported stolen from a large number of accounts and the assets were then allegedly transferred to this wallet address. More than $2 million has been taken from that wallet as of 10 p.m. ET on Tuesday. Users also reported losing funds to this wallet, where more than $3.7 million has been stolen. A third and fourth wallet were discovered as well, with one of those holding 61 percent of the supply of a token called Exist.

Phantom says it is "working closely with other teams" and "does not believe this is a Phantom-specific issue."

0xfoobar, a developer and NFT project founder, says the best way to keep assets safe is to transfer to an offline hardware wallet or to a reliable centralized exchange.

SOL dropped 7 percent to $38 after initial reports of the exploit. It has rallied to $39.44 as of 10:15 p.m. ET Tuesday.

This is a developing story, follow Lucky Trader for more updates.