Siphon millions of dollars from Solana’s wallet (SOL).

Siphon millions of dollars from Solana's wallet (SOL).

More than 8,000 Solana wallet addresses were compromised. The modus operandi of the attack is still unknown and millions of dollars are being spent as of this writing.

SOL hack underway

The wallets in question are Phantom, Slope and TrustWallet… The addresses of the hackers received funds seven months ago from Binance. Either after the exchange has established a KYC procedure. It’s a start…

Eight million dollars in SOL, SPL and other Solana-backed tokens were stolen. This figure increases from hour to hour.

The origin of the hack remains mysterious at the moment. The Phantom wallet has indicated that the fault does not appear to come from them. But one thing is certain, the people responsible for this larceny have somehow gained access to the private keys that allow them to “sign” transactions.

“We are working closely with other teams to shed light on this matter. At this time, the team does not believe this is a Phantom-specific issue. We will communicate as soon as we have gathered more information. »

The wisest thing right now is to move all your SOL to a “cold” wallet. We also recommend disabling all app permissions related to your Phantom Wallet and others.

As a reminder, a hot wallet is a wallet that is permanently connected to the internet. Especially if its user frequently uses other NFT protocols, Challenge and Others smart contracts which is attached to it. This is the case with the Phantom wallet.

This hack comes barely two days after the NOMAD protocol, making it possible to prove it smart contracts connecting multiple blockchains. The famous “bridges” are almost always at the root of the hacks. The equivalent of $190 million in Ethereum and USDC was stolen…

According to the blockchain analysis company Elliptic, more than a billion dollars will be stolen through these “bridges” in 2022. And, no surprise, ethereum would be worried again if we believe Austin Federa, a spokesperson from Solana:

“Engineers from several ecosystems, with the help of several security companies, are investigating the siphoned wallets. There is no evidence that a physical cold wallet (ledger, trezor, etc.) is affected. »
“Not much is known at this point but we do know that the physical wallets are not affected. There are also multiple reports of a compromised ETH wallet, but it is unclear whether it is related to this issue or not. »

This is what happens when you continue to change protocols and create smart contract gasworks that connect multiple programming languages. Faults are increasing and inevitably lead to tragedies.

Unfortunately “Crypto” looks more and more like a huge scam under the cover of “technological innovations” of dubious utility, surfing the myth of NFTs, “web 3” and other chimeras.

It’s time for developers to go through the jailbreak.

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Nicolas Teterel avatar

Nicolas Teterel

Journalist reporting on the Bitcoin revolution. My papers deal with bitcoin through geopolitical, economic and libertarian prisms.

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