Solana “Hot” Wallets – Victim Of The Latest Multimillion-Dollar Attack

Solana has recently become a victim of a crypto wallet hack. Solana is going through an attack, with over 8,000 wallets drained till now, according to blockchain auditors OtterSec. Users reported that their funds drained out of their wallets with no information from major internet-connected “hot wallets,” including Phantom, Slope, and TrustWallet. Solana Hot Wallets Drained In Attack The attack on the wallets occurred on Tuesday evening and is still in action. Reports indicate that several Solana addresses are linked to the hack, amassing at least $5 million in SOL, SPL, and other Solana tokens from unwitting users. The reason for the attack is still not solved. Mobile wallet users suffered the most from the hack. Somehow, the attacker managed to initiate and approve user transactions, implicating that the service of a trusted third party had been breached. The location of the attackers is still not known. Victims say that their wallets are drained without their knowledge. A representative of Phantom, the largest Solana hot wallet, announced, “We are evaluating the incident impacting Solana wallets and are working closely with other teams in the ecosystem to get to the bottom of this. We will issue an update once we gather more information.” “The team doesn’t believe this is a Phantom-specific issue at this time,” the representative added. Questionable Safety of Hot Wallets As a result of the attack, a long-running controversy...