- Phantom wallet users are complaining about funds being drained without their consent
- Several commentators point to an exploit related to the wallet or the NFT market Magic Eden
Users of Solana digital wallets Phantom and Slope claim millions have been stolen from an unknown exploit linked to the wallets or associated trusted apps.
In accordance more users and market participants, the exploit on either the Solana network or via native wallets drains users’ funds despite being disconnected from browsers or making any transfers. Exact details of the exploitation are not yet known.
“We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem,”[ads1]; the Phantom team told Blockworks. “At this time, the team does not believe this is a phantom-specific issue.” The exact amount stolen from users’ wallets is not yet known.
Users said they are receiving notifications that they are sending tokens to an unknown set of addresses. The total amount of funds drained so far is suspected to be more than $6 million in SOL from more than 7,760 wallets. Blockworks was unable to immediately independently verify the total amount taken.
Users from online cryptocurrency wallet The slope also reports incidents of an exploit. The attacker is claimed to get away with both SOL and Solana Program Library (SPL) tokens.
One user, who goes by the handle @Paladin on Twitter, told Blockworks that several people familiar with the situation had their wallets “randomly emptied.”
“They lost thousands and most of their money, so they are quite depressed,” they said. “Move coins to a ledger and disconnect from all trusted sites.”
Paladin pointed to two large wallet addresses suspected to belong to the exploiter, which have a combined balance of approximately 37,777 SOL (US$1.5 million). A third wallet, with approximately 2,402 SOL ($95,000) continues to see funds drained to its address as a result of the exploit, Paladin said.
The exploit appears to affect all Solana-based tokens with recommendations to move coins to a ledger, revoke trusted apps like NFT Marketplace Magic Eden or unlock them via stake.
Hacks and exploits related to DeFi and NFTs continue to increase. Last month, Blockworks reported that the hacks amounted to more than $1.2 billion for the first quarter of this year alone, in what appears to be an increase in frequency for the burgeoning sector.
Continuous hacks “are fundamentally an intractable problem,” Immunefi CEO Mitchell Amador told Blockworks in an interview at the time. – We knew that things would go in this direction. Volatility is part of crypto, the amount of money flowing in should increase.”
Updated 2 August 2022 at 11:40 PM ET: Changing headline and copy to reflect Slope Wallet users also affected by exploit. Updating response from Phantom’s team.
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