Solana: Exploit Appears to Be Software Related

Solana engineers are investigating an exploit that allowed hackers to steal more than $5.7 million in funds from more than 8,000 Solana wallets Tuesday.

"This does not appear to be a bug with Solana core code, but in software used by several software wallets popular among users of the network," the network tweeted Wednesday morning.

Several users with Phantom, Trust Wallet, and Slope wallets were reportedly affected. There were four wallets involved in the hack, according to reports. Here are the wallets and how much they stole:

Wallet 1 - $3.7 million
Wallet 2 - $2.04 million
Wallet 3 - $180,000*
Wallet 4 - $289,000

*Does not include the more than 1.8 billion Exist coins, which is valued at $570 million on the Solscan site, but is listed at 5 cents on some exchanges, as well as lacking the liquidity to swap.

Some Solana-based projects and the marketplace Magic Eden suggested users revoke permissions on their wallets to be safe, though later, developers on Twitter urged Solana users to send their funds to trusted exchanges or an offline wallet.

Author Bio

TD Marquis

A veteran journalist and editor with more than a decade's worth of experience, TD helped a small community newspaper in Vermont win a New England Newspaper Association Right to Know Award in 2014. TD helped compile five years' worth of invoices to uncover a long-established practice of small-town government officials paying themselves six figures to do small jobs around town. TD discovered NFTs with Top Shot in 2021 and his first NFTs on ETH were saving two Mooncats. He is now the proud owner of Rowhome #61 and 1,300 other NFTs of questionable value. He also sent 4 ETH to a fake Mekaverse site and wants Lucky Trader readers to avoid the same fate.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.