Solana Network Becomes a 580 Million Dollar Hacking Target

Massive crypto asset theft has occurred again, this time in the case of Solana’s network. A number of users reported that their crypto assets on the Solana network were forcibly withdrawn by hackers.

The community initially suspected that this hack occurred because they connected the wallet with the Magic Eden marketplace NFT platform, but after the information was spread, it turned out that wallet exploitation did not only occur on one platform but in several places at once. Phantom, Slope, and Trust Wallet users also reported losing USDC on Solana and Ethereum.

This situation prompted speculation within the community that Solana’s network had been compromised by hackers and that they could freely withdraw assets belonging to users connected to a number of services.

Hacker’s wallet address:

Htp9MGP8Tig923ZFY7Qf2zzbMUmYneFRAhSp7vSg4wxV

CEzN7mqP9xoxn2HdyW6fjEJ73t7qaX9Rp2zyS6hb3iEu

5WwBYgQG6BdErM2nNNyUmQXfcUnB68b6kesxBywh1J3n

Each of these addresses held stolen assets of USD 3.7 million, USD 2 million, USD 571 million and USD 284 thousand, resulting in a total asset loss of USD 577 million.

Solana’s price is currently down nearly 4% in the last 24 hours, much lower than the declines experienced by Bitcoin and Ethereum.

Clarification of a number of platforms on the Solana network

When the hacking case in Solana’s network spread, a number of platforms such as STEPN, Phantom Wallet, and Magic Eden immediately confirmed and advised users to revoke the application’s permission to the service.

Through its official Twitter account, Phantom Wallet also announced that their team is currently working with other teams to resolve vulnerabilities that occur in the Solana ecosystem. They also said that until now the team still does not believe that this problem only occurs within the Phantom Wallet service.

ecosystems and several security companies to investigate drained wallets in Solana’s network. They also explained that to date there is no evidence that hardware wallets were affected.

The Number of Victims Continues to Increase

Still from the @officer_cia account in his thread he provided a link to find out the number of hacked victims on the Solana network in real time. To date, there are more than 8,000 addresses that have been hacked and counting.

Because this hacking case occurred in the morning there are still many people who are not aware of this case, some of them are also still confused whether the hacked assets will get a refund.

So far, there is no clear solution to stop the hacking, the only way that can be done by the user is to move his assets outside the Solana network and distrust all the asset recovery offers from various accounts on twitter.