Solana Faces a $6 Million Wallet Draining Exploit

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Collectors across the globe woke up this morning to an ongoing and monumental Solana exploit, seeing $SOL and $USDC tokens unexpectedly drained from thousands of wallets without user permission.

As of writing, over 8,000 wallets have lost at least $6 million in an attack that techy types believe has compromised users’ private keys. The popular Phantom wallet experiencing the bulk of erroneous transactions, however, reports indicate that it is not isolated to this platform.

Furthermore, many of those affected have revealed that the wallets in question have remained untouched for long periods. During which, they have neither interacted with nor approved any transactions. As a result, an alarming number of funds have disappeared into the void, and as yet, the machinations of the crime remain unclear.

🚨🚨🚨There seems to be a widespread SOL exploit at play that’s draining wallets throughout the ecosystem

Here’s what you can do right now to best protect yourself
1. Go to >Settings on your @phantom wallet
2. >Trusted Apps
3. >Revoke Permissions for any suspicious links


— Magic Ethen 🪄 (@MagicEden) August 3, 2022

Those in the know recommend immediately moving all assets, both NFTs and crypto, from their Solana-based wallets to a hardware wallet such as Ledger. However, if this is not possible, they can revoke all permissions within the wallet and lock assets into staking.

To revoke permissions within the Phantom wallet: > Go to Settings > Select Trusted APPs > Revoke all Permissions

As always, stay safe out there.


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