Recently there was an attack on the Solana (SOL) Phantom and Slope ecosystem. Users’ wallets are being tampered with by unknown forces, and thousands of wallets have been affected so far.
The attacker acquired access to users’ private keys through a supply chain attack where a JS library is hacked and private keys to wallets are extracted.
Initially, accounts created no longer than nine months ago were said to have been affected. However, there are reports of newly created accounts that were affected.
An erringly similar attack happened to IOTA, but they never recovered, and this has created valid concerns in the heart of Solana (SOL) Phantom and Slope (SPL) users.
Another scary aspect of this attack is that it can’t be curbed by stopping the chain because once two people have access to a private key, it will be very difficult to know the legitimate owner. Once the chain resumes, the attack will continue.
The attacker drained all the wallets in his control, stealing SOL and SPL (USDC) tokens. Therefore it’s advised that users that have not yet been affected move all their tokens into a cold wallet.
Those without access to a cold wallet are to limit contact with the internet. If possible, shut down all their systems or put them in an inaccessible mode like airplane mode until the probable cause and source of the attack are revealed.
In addition, some have suggested that transferring all assets to a reliable CEX is another wise course of action. This attack has given a lot of people in the crypto world concerns because it can happen to Solana (SOL), Phantom, and Slope (SPL). Crypto users will now exercise extra caution to avoid unprecedented losses.