Technology

Solana hacked as crypto giant admits THOUSANDS of wallets have been “hijacked” by crooks

THOUSANDS of Solana wallets were “exhausted” by an unknown attacker.

The popular crypto system is used by millions of people around the world.

Solana used to brag about its security - but it's impossible to prevent all hacks

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Solana used to brag about its security – but it’s impossible to prevent all hacksPhoto credit: Solana

Solana is a blockchain like Ethereum and Bitcoin, but with some key differences.

It’s mostly popular for its fast transactions and low “gas costs” — or fees.

But Solana users are now panicking after the company admitted it suffered a major attack.

“Engineers from multiple ecosystems are investigating emptied wallets on Solana with the help of multiple security firms,” ​​Solana said in a statement.

“There is no evidence that hardware wallets are affected.”

The attack is specifically focused on internet-connected wallets on iOS and Android.

If you’re using a hardware wallet, Solana says you’re not affected.

It’s unclear at this time how much money was stolen – but Solana says the number of victims is in the thousands.

“An exploit allowed a malicious actor to siphon funds from a number of wallets on Solana,” Solana explained.

“As of 5am UTC, approximately 7,767 wallets were affected.

“The exploit has affected multiple wallets including Slope and Phantom.

“This appears to have affected both the cell phone and the extension.”

It is currently believed that hackers may have exploited vulnerabilities in apps or extensions connected to the Solana network.

This is reportedly affecting Solana-friendly wallets like Phantom, Slope, Solflare, and TrustWallet.

Several cryptocurrencies may have been stolen, including the official Solana coin as well as all coins compatible with the Solana blockchain.

“Millions Lost”

Security experts have already estimated the loss of crypto.

Analyst Miles Detuscher tweeted that up to $6 million could have been stolen.

“If you have money on Phantom, make sure you revoke all permissions and switch to a hardware wallet,” Miles warned.

Twitter account @PeckShieldAlert said the loss is estimated at up to $8 million.

Phantom is the most popular crypto wallet on the Solana blockchain.

In a statement, Phantom said, “We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem.

“At this time, the team does not believe this is a Phantom-specific issue.

“As soon as we gather more information, we will issue an update.”

The Sun has contacted Solana for updates and will edit this story with any response.

Solana is asking affected users to fill out their survey as part of the investigation here.

Several users have commented on the attack on Twitter.

One wrote: “Damn, my pocket ran out.”

Another said: “What about my stolen money? Is the team working for that?”

And one frustrated user asked: “Is there no compensation for those who were pulled out?”

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https://www.thesun.ie/tech/9196654/solana-hacked-crypto-wallets-drained-funds/ Solana hacked as crypto giant admits THOUSANDS of wallets have been “hijacked” by crooks

Fry Electronics Team

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