Solana (SOL) is now trending on Twitter as countless users are either reporting on the hack as it reveals or is reporting to be victims themselves, warning anyone with Solana-based hot wallets such as Phantom and Slope wallets to transfer their funds into cold wallets.
An ongoing, widespread hack has seen as much as $8 million in funds drained across several Solana-based hot wallets.
NFT marketplace Magic Eden noted that it “seems to be a widespread SOL exploit at play” and called on users to revoke permissions for any suspicious links in their Phantom wallets.
Blockchain investigator PeckShield said that the widespread hack is likely due to a “supply chain issue” which has been exploited to steal user private keys behind affected wallets.
Magic Eden, the Solana-based wallets providers including Phantom and Slope, and the non-fungible token (NFT) marketplace are among those that have commented on the issue, with wallet provider Phantom noting that it is working with other teams to get to the bottom of the issue, granting it says it does not “believe this is a Phantom-specific issue” at this stage.
Magic Eden accepted the reports earlier in the day by stating that “seems to be a widespread SOL exploit at play that’s draining wallets throughout the ecosystem” as it called on users to cancel permissions for any suspicious links in their Phantom wallets.
Slope assured that it is now working with Solana Labs and other Solana-based protocols to pinpoint the issue and repair it, though there were “no major breakthroughs yet.”
Popular scam detective and self-described “on-chain sleuth” @zachxbt did some inquiries and revealed to their 274,800 followers that the hackers primarily funded the primary wallet associated with this attack via Binance seven months ago.
The transaction history shows that the wallet was dormant until today before the hackers’ conducted transactions with four different wallets 10 minutes before the attack started.
There have also been dissimilar reports on how many wallets have been affected and the degree of the damage so far.
Crypto tracking and compliance platform Mist Track tweeted that as many as 8,000 wallets have been hacked, with $580 million sent to four addresses, though commentators on the post doubt the number.
In the meantime, Emin Gun Sirer , the Ava Labs CEO and founder, claimed that the number was at 7,000 plus wallets, a number which is rising at around 20 per minute. According to him, the transactions appear to be appropriately signed, “it is likely that the attacker has acquired access to private keys.”
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