The Solana ecosystem has been struck by a cyberattack that has stolen millions of dollars from 8,000 hot wallets

The Solana ecosystem has been struck by a cyberattack that has stolen millions of dollars from 8,000 hot wallets

Hackers have targeted the Solana ecosystem, stealing cryptocurrency from thousands of “hot” wallets that are connected to the internet. Such assaults are typical on blockchain platforms, but the finding is noteworthy considering Solana’s reputation as one of the fastest and least expensive ecosystems for trading digital assets.

It seems that hackers have stolen both Solana’s own cryptocurrency (SOL) and ones compatible with the Solana blockchain, such as the stablecoin USD Coin (USDC). The value of the assets stolen is unknown because the attack is still ongoing, but reports from independent analysts and security firms such as PeckShield estimate the losses to be worth up to $8 million.

Solana has previously dealt with security issues like as bot spam and alleged DDOS assaults. Meanwhile, it is accepting deposits for the Saga phone, which it claims will be available next year and would have compatibility with the network’s decentralized applications.

According to Solana’s official Twitter account, the hack seems to have compromised roughly 8,000 (up from 7,767 previously) wallets, including those run by third companies Phantom and Slope. The business did not explain the nature of the assault but said that there was no indication that hardware wallets (those that are not linked to the internet) were compromised.

However, Solana’s co-founder Anatoly Yakovenko went into greater detail on Twitter, claiming that the hack appeared to be a supply chain attack targeting both iOS and Android applications (meaning that the attackers exploited some weakness in connected apps or browser extensions). According to reports, the transactions are signed with the victims’ private keys, implying that the attackers have somehow obtained the seed phrase used to lock their wallets.

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