Solana Blockchain Attack Again, Rs 64 Crore Stolen From 8000 User Wallets

The Solana blockchain has once again become a victim of a hack. About 8,000 hot wallets have been targeted in this new attack by unknown hackers. About $8 million or Rs 64 crore has been stolen from Phantom, Slope and TrustWallet, the victims of this attack.

The attack targeted the native SOL token and the stable coin USD (USDC). According to the news, the main target of hackers were those hot wallets, which were inactive for more than 6 months. Let us know about this in detail.

Solana blockchain attack

Blockchain security and data analytics company PeckShield Alert said the widespread hack on the Solana wallet could likely be caused by a “supply chain issue”, which is used to steal user keys from the wallet. PeckShield has estimated the loss at $8 million, which in Indian currency works out to about Rs 64 crore.

Solana Network said about the hacking that about 7,767 wallets have been affected in this attack. It also informed through tweet that the root cause of this exploitation is yet to be ascertained. It wrote in the tweet:

“Engineers are currently working with multiple security researchers and ecosystem teams to identify the root cause of the exploit, which is unknown at this time.”

The network said that it found no evidence of hardware wallets being affected in the attack. It has asked users to abandon the compromised hot wallets and also advised them to use hardware wallets for security. A hardware wallet is a form of offline storage that stores a user’s private key on a secure hardware device.

The wallet companies affected by the attack (Phantom and Slope) also issued a statement confirming that they are investigating the matter.

The SOL token’s price dropped by 8 percent following the disclosure of this hack. According to Coinmarketcap, the token has now recovered and is trading at Rs 3,085.21 with a decline of 0.99 per cent in the last 24 hours.

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