Over 8000 Solana (SOL) wallets had been drained of round $580 million by an exploit that began within the late hours of August 2.

However, Peckshield famous that the full loss is estimated to be lower than $10 million if the worth of shitcoins concerned within the assault is eliminated.

The assault principally affected cellular Solana wallets linked to the web like Phantom, Solflare, BeliefWallet, and Slope. But most of the breach experiences got here from Phantom and Slope customers.

The trigger of the exploit and the hackers’ id stay unknown.

Meanwhile, 4 wallets have been recognized to be holding all of the stolen funds.

The exploit has been draining Solana, different Solana-based tokens, and USDC. Otter added that the exploit has additionally affected some Ethereum (ETH) customers.

The trigger of the assault remains to be unknown

The crypto neighborhood stays at a loss on the trigger of this exploit.

Solana Foundation’s co-founder Anatoly Yakovenko posited that the exploit “seems like an iOS supply chain attack,” a view shared by another neighborhood members.

According to Christine Kim, a provide chain assault “is like a Trojan horse style attack in that a hacker slides in malicious code without anyone noticing to one of the GitHub repos or libraries that the targeted application/product relies on and uses.”

Emin Gün Sirer, Ava labs CEO, talked about 4 doable causes of the exploit. According to him, the assault might have been induced by a “supply chain attack,” a “faulty random number generator,” or a “browser exploit/zero-day.”

However, these causes have a unique loophole that makes it tough to pin the assault on any of them.

Sirer continued that the doable trigger of this hack may very well be “a potential nonce reuse that ends up revealing the private key.”

Blockchain safety agency OtterSec had written that the transactions had been “being signed by the actual owners, suggesting some sort of private key compromise.”

Solana, Phantom, and Slope have revealed that they’re investigating the exploit and can present additional info quickly.

Meanwhile, customers have been suggested to cease utilizing the compromised pockets. The community suggested customers to make use of a tough pockets, whereas some neighborhood members additionally stated sending the tokens to a centralized trade might shield the funds.

Solana nodes are down

Available info additionally revealed that Solana nodes are at the moment down. The nodes had been reportedly positioned underneath a DDoS assault to decelerate the hacker.

Meanwhile, the Solana blockchain remains to be operating.

However, crypto neighborhood members have questioned the rationale behind the assault because the hacker might proceed with the exploit when the community resumes full operation.

As of press time, Solana’s community has misplaced round 2% of its worth within the final 24 hours and is at the moment buying and selling for $39.87.

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