Magic Eden, Solana’s largest NFT exchange, warns its users to be cautious if there is a high demand for transactions, especially if using Phantom Wallet, one of the most popular wallets in Solana.
This is due to the fact that Solana (SOL) is still being attacked by many hackers, one of whom managed to steal $6 million in just 10 minutes.
Solana Is Hacked Yet Again!
Until now, PeckShieldAlert, one of the Twitter accounts that provides information about crypto hacking, has reported that the amount of money stolen has increased.
According to reports, approximately $8 million has been hacked to date, plus one non-liquidity coin with a value of $570 million that cannot be sold.
This is one of the most significant phenomena that Solana has ever witnessed, as it appears that hacking flaws from previous hacks are being discovered and exploited one by one by hackers.
Solana is still a hot topic on Twitter due to numerous reports from investors regarding the sudden loss of funds, particularly in Phantom and Slope Wallet.
The Phantom Party has also responded to this case, stating that they are attempting to collaborate with Solana’s team to resolve the issue.
Slope has also responded with the same statement. To avoid further hacking, these two wallets advise investors to immediately move their crypto to a cold wallet, such as a ledger.
Due to numerous reports from investors claiming that the majority of Solana’s ecosystem had been hacked, Magic Eden was the first to become aware of the hacking case.
Trust Wallet was also reported to be affected at this time due to its connection to Solana’s network.
For the time being, it appears that hackers are still targeting the Solana ecosystem, as most applications on the Solana blockchain appear to be reporting hacks.
Despite Being Tracked, Hackers Continue To Operate
Emir Gun Sirer, CEO of Ava Labs, the company responsible for Avalanche, stated that hacks continue to occur.
Until now, it has been reported that 7,000 wallets have been hacked, and the number is still growing at a rate of up to 20 wallets per minute.
What’s surprising is that all of these hacks occurred during legitimate transactions, with the wallet owner seen agreeing to the transaction by pressing the confirm button, implying that everything was done through phishing.
One of the blockchain security analysts, @zachxbt, tracked down this hacker and discovered that the wallet used to receive the hacked funds was first used seven months ago.
He stated that the wallet was funded seven months ago by one Binance user whose bio is stored on Binance and can be tracked if Binance is willing to provide that information.
Furthermore, he stated that the wallet has not been used at all since it was created seven months ago, and that it has only recently become active again after receiving the hacked funds.
It was discovered that four wallets were linked to this hack and were only active for about 10 minutes before the major hack occurred.
Mist Track, a blockchain and cryptocurrency transaction tracking company, stated that approximately $580 million has been sent to the hacker’s four wallets and will most likely be sent to Binance wallets that were tied up seven months ago.
Because of the speed and magnitude of the hack, this is one of the most significant hacks ever to occur to Solana. The $6 million hack, which took place in just 10 minutes, was one of the highlights.
In addition, investors were taken aback by a $500 million hack that occurred in just one transaction on the Phantom wallet.
Many people are still upset about this incident because Solana should have learned from the previous two hacks. Furthermore, this incident demonstrated that Solana was more concerned with speed than with safety.
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