The summer of 2022 remains something of a nightmare for crypto users after yet another hack resulted in at least $4 million worth of tokens being stolen.
This time it was not a blockchain bridge that was compromised, but the Solana ecosystem. Solana is a blockchain similar to Ethereum and has often been described as the killer of Ethereum. However, someone started emptying the tokens from thousands of wallets, and now more than 8,000 wallets are said to be affected.
"Over 8,000 #Solana wallets have fallen victim to the ongoing hack, with more growing by the minute," cryptoanalysts WatcherGuru reported on Twitter (opens in a new tab). The same analysts said the transactions were signed by the actual owners, "suggesting some form of private key compromise."
Stablecoins are also affected
Initially, it was thought that only the Phantom Solana browser wallet was affected, but the problem seems to be much bigger, as MetaMask is one of the most popular crypto wallets / browser plugins also affected.
“We are actively reaching out to the relevant wallet teams to offer our assistance and to monitor if there is anything we can do to keep our users safe,” a MetaMask spokesperson told Decrypt.
Phantom said an investigation is underway. “We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem,” Phantom said via Twitter. "At this time, the team does not believe this is a Phantom-specific issue. As soon as we gather more information, we will post an update."
In fact, some users have confirmed that tokens other than Solana have also been scammed, including USDC, a stablecoin whose value is equal to that of the US dollar.
Solana's price fell nearly 10% on the news within two hours of the commitment's release.
It's still too early to say exactly what the underlying problem is, but experts seem to agree: the only way to stay safe right now is to transfer the funds to cold storage (an out-of-the-box hardware wallet). Others joked that funds would currently be safer in a third-party escrow or exchange service. “Your keys, not your crypto,” joked one user.
The prank is tied to a series of compromises and failures between various blockchain projects and escrow services, which left thousands of users without their hard-earned cryptocurrencies. In addition to the Nomad Bridge hack that occurred yesterday, earlier this year Voyager and Celsius, two major cryptocurrency custodians, filed for Chapter 11 bankruptcy, preventing millions of users from accessing the tokens they had trusted. To the platforms.
“Not your keys, not your coins” is the usual mantra of experienced cryptocurrency users, who have seen their fair share of failed projects and loss of funds over the years.
Via: Decrypt (Opens in a new tab)