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Home Cryptocurrency

Solana Wallets Targeted in Latest Multimillion Dollar Hack

Rate Captain by Rate Captain
August 4, 2022
in Cryptocurrency
Reading Time: 1 min read
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Solana Wallets Targeted in Latest Multimillion Dollar Hack
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Twitter continues to be flooded with reports of Solana users noticing that tokens have suddenly been drained from their accounts.

“I was getting my sunglasses refit when I got a push notification from my mobile wallet that I had sent all the SOL from my wallet,” Solana community member @gostak_gm told CoinDesk. “It was my main hot wallet, so I had it connected to lots of different mobile and web extension wallet providers as well as a lot of dapps. Not clear to me what could have been the root cause. Glad to have most of my funds on a cold wallet.”

It is unclear at this point whether the vulnerability is limited only to the Solana blockchain. A TrustWallet and Slope wallet user reported losing USDC on both Solana and Ethereum.

Solana – the fifth-largest blockchain by total value locked (TVL) according to DefiLlama – has grown in popularity over the past year owing to its quick transactions and low fees. Its native token, SOL, dropped 4% in the hours following the attack.

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