Thousands of Solana crypto wallets drained in yet another massive hack

Another day, another hack of the digital currency.

A day after a massive hack resulted in roughly $190 million of digital assets missing from the Ronin bridge, Solana users appear to be targeted by a widespread hack, with their digital assets being drained from their wallet.

Some users of Solana wallet, including Phantom and Slope, are having funds drained from them, though the details of the hack are not known at this time. It's happening for users of both the mobile wallet and the browser extensions.

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Several security firms are helping engineers investigate drained wallet on Solana. There is no evidence hardware wallet is affected.

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The solution is to use a hardware wallet with a new seed phrase and transfer the funds there. Not all users have a hardware wallet, which is a physical device that offers more security, than a software wallet such as Phantom.

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Phantom doesn't think this is a Phantom-specific issue. As soon as possible, the company will let you know more.

Slope is working to sort out the issue as quickly as possible and fix the problem. There was another statement from the team on Wednesday.

UPDATE: Aug. 3, 2022, 3:21 p.m. EDT Security expert @HelpedHope who's been working with the Solana team to track down the issue chimed in with a few additional details. While he claims that there's no "clear explanation yet," he reiterated that the Solana network is "fine." Given that the attack is not on a specific wallet provider but on multiple wallets and on multiple operating systems on both mobile and desktop, it might take a while for the exact cause to be found. In the meantime, according to Dune analytics, 7,945 wallets have been compromised.

UPDATE: Aug. 4, 2022, 8:04 a.m. EDT It appears that the main culprit could be Slope wallet and its mishandling of seed phrases. If this is accurate, it means that only users who have used Slope are affected. Slope issued an official statement, saying that a full post mortem is coming; in the meantime, users are advised to move their funds to a hardware wallet.