Solana has not had a good year in 2022. Several hackers have targeted the Solana ecosystem, causing losses of over a billion dollars, while the collective market is under bearish pressure. The wrong reasons were driving Solana’s popularity at press time.
The private keys to several Solana wallets have been compromised in a widespread attack, according to reports. According to users, their wallet funds have been removed without their consent, and at press time, more than $7 million worth of SOL, SPL, and other tokens have been lost.
According to the attacker, native tokens (SOL) and SPL tokens (USDC) have been stolen from hot wallets using a mass private keys exploit. Most targeted wallets have been inactive for more than 6 months, and wallet holders like Phantom and Slope have suffered. According to Twitter user foobar, the exploit might have been the result of an upstream dependency supply chain attack.
Additionally, he mentioned that revoking approvals for these transfers may not help in terms of safekeeping, since the only viable option is to move funds to an offline cold hardware wallet. In the event that a hardware wallet is not an option, moving temporarily to a reliable centralized exchange is another option.
Other members speculated that the attack may have been connected to Magic Eden’s Solana-based non-fungible token marketplace.
A common discussion on social media remains protecting assets from further damage, as several proponents advocate transferring assets to hardware wallets.