Over $7M stolen from ongoing Solana-based crypto wallet hack

Crypto analysts explain that the hacker is stealing both SOL and Solana Program Library (SPL) tokens.

An active security incident on Solana has led to the loss of funds worth millions across a number of Solana-based wallets.

Non-custodial Solana wallets, including Phantom and Slope, have become the latest victims, with users reporting that their funds have been drained without their knowledge.

Phantom took to Twitter to announce that the firm is working closely with other teams to understand the issue.

Non-custodial wallet Slope also assured that it would rectify the issue as soon as possible and would update users about the breach.

Crypto analysts explain that the attacker is stealing both SOL and Solana Program Library (SPL) tokens. Several industry heavyweights have taken to Twitter to announce the issue.

Changpeng Zhao, CEO of crypto exchange Binance, took to Twitter and wrote about the security incident on the Solana chain.

Emin Gun Sirer, Founder and CEO at Ava Labs, commented that there is a lot of speculation and misinformation about the issue. He stated that hardware wallets and centralised exchanges seem unaffected, and users holding Solana assets on those systems would be fine.

Kiyomi NFT-based gaming wallet also speculated that over $7 million were stolen from Solana-based crypto wallets.

There have been multiple reports suggesting many wallets have been affected. Solana's price has been down 7%.

Edited by Teja Lele


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