Phantom, a provider of Solana wallets, claims that the August 2 hack did not affect its systems. More than 8000 hot wallets totaling $4.08 million had been taken off during this one.
numerous empty wallets
On August 2, a fresh assault struck the Solana ecosystem. Over 8000 wallets were empty in a few of hours thanks to hackers. Today’s total loot is predicted to be $4.08 million.
An attack on the Solana network had already occurred in February of last year, costing 320 million dollars. The Wormhole platform was accused at the time. The latter enabled token transfers between other networks and the Solana blockchain. A hacker had been able to take 120,000 Ethereum thanks to an exploit.
This month, in response to the assault on her, Solana promptly ruled out the notion of an underlying character fault. The teams further stated that, according to their study, the affected addresses were generated, imported, or utilized on the Slope or Phantom wallet programs. Solana later examined the situation and determined that Slope was fully to blame.
Phantom rules out system failures.
Phantom, a cryptocurrency wallet provider, asserted that before the Solana attack, no bugs had been discovered in their software. Initially, it was believed that some of its goods, including the wallet Sollet, had permitted the fraudulent intrusion. Phantom tweeted the following about it:
- After almost a week of investigation, our team has found no evidence that Phantom’s systems were compromised during the August 2 security incident. Work is still ongoing, but given the seriousness of the situation, we would like to provide an update on what we have done so far.
A security auditing business also affirmed that no flaws that would have allowed the hack were found. Otter, a digital security company, also carried out a separate examination into the incident on August 2. She came to the conclusion that Phantom was not to blame for the occurrence that resulted in the $4 million being diluted.
Otter continued by saying that Slope Wallet was built on shoddy security principles. As evidence, it was discovered that accidentally transferred unencrypted seed sentences from Slope to Otter’s servers. The corporation claims that this issue would have allowed for the theft of money by hackers.
Phantom wallets that have been contaminated
Some of the company’s hosted wallets were affected by the August 2 breach even though Phantom’s systems were said to be fault-free. The ability to link external wallets with ones created on Phantom would have allowed for this. In response, the business stated:
- Although some Phantom users were affected, in each case we reviewed we found that they had imported their seed phrases or private keys to or from a non-Phantom wallet.
Slope, for his part, sent the hackers a frantic request for the return of the stolen money. In it, the business offers con artists a 10% incentive if they return the stolen money within 48 hours. Slope said that if they complied, it would not file any charges. This request, as expected, was denied.
Since then, Slope has revealed that their internal inquiry is almost finished. They further pledged to carry out their security audit in collaboration with TRM Labs and American authorities. Whether legal action will be taken against the New York firm is unknown at this time.
