Key Exploit on the Solana Blockchain Begins to Drain the Phantom Wallets! » Crypto Update Daily News, Bitcoin and Latest Crypto News


The Layer-1 Ethereum competitor Solana is now facing a key exploit on such platform according to the latest reports. Here, several Phantom wallets are now compromised with hackers that are stealing anywhere above the level of $6 million. Also, above 7000+ wallets are also affected, and even rising at almost 20/min. In spite of the fact, the exact figures are basically not known and it is the random estimate usually people that are familiar with such kind of matter. For the users that are holding the funds in hot Phantom wallets, best thing will be to send across the funds for exchange or to simply move them to the hardware wallet.

Solana Monitoring the event!

In recent update, here Solana has been monitoring such an event. On the other hand, there is also not any evidence of the hardware wallet getting compromised. The Engineers from different ecosystems, with various security firms, they are also investigating the drained wallets for Solana. There is also no such evidence that the hardware wallets are even impacted.

Investigation of the matter by Phantom

Phantom, which is the wallet based on Solana for DeFi as well as NFTs that is investigating such matter. Apart from this, they also have said that exploit issue mainly do not seem to be much specific to Phantom. We are now even working closely with different teams to get bottom for the reported vulnerability in entire Solana ecosystem. At such point of time, the team also never believe that it is the Phantom-specific concern.

Over last year, network of the Solana blockchain has also face various exploits. This also hit reputation of Solana to an extent. Following latest exploit, native cryptocurrency SOL also come under extreme pressure. The possible route is mainly “supply chain attack” and it exhilarates private keys of the user. Also, the affected wallets also seem to have created but there are also some of the reports of new created wallets that are also affected.

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