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Solana Wallet Hacks — A Timeline

3 August 2022

At around 7:30pm EST on Tuesday night, reports began flooding in that somehow, Solana wallets were being completely drained:

“Some sort of HUGE ecosystem hack going on across #Solana $sol right now!

Shit tons of wallets being drained.

If you are using a hot wallet like Phantom then consider sending funds to your hardware wallet or even to an exchange account until we find out what is going on!” -@TheCryptoLark

“ONGOING EXPLOIT ACROSS MANY SOLANA DAPPS

There are many gambling sites and NFT mint sites that are suspected to be involved in this attack. Millions of dollars are currently being drained from wallets.” -@solblaze_org

An hour later, the Solana Foundation acknowledged the attack on Twitter:

“Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted.” -@solanastatus

By midnight, it was rumored that white hat hackers were actually DDoSing RPC nodes to help Solana:

“UPDATE: Several #Solana RPC nodes are offline after reportedly being DDoS attacked to slow down an ongoing exploit that drained millions of dollars from thousands of users.” @WatcherGuru

As of early morning Wednesday, the attacks are still ongoing. More than 7,500 wallets have been compromised to the tune of $6M+. At this time, it appears that Phantom and Slope wallet users are the major victims.

The latest from the Solana Foundation as of 3:00am EST indicates they still haven’t gotten to the bottom of it: “If your wallet was one of the 7,767 impacted please complete this survey — engineers are investigating the root cause.” -@SolanaStatus

If you use either a Phantom or a Slope wallet, or have any Solana on a hot wallet for that matter, the safest course of action is to move your tokens to a hard wallet or CEX while we await further news and resolutions from the Solana team.