The Solana smart contract project is suffering from issues once again after it was discovered that close to 8,000 Solana-based wallets have been compromised. Solana is asking victimized wallet owners to complete a survey and the team stressed that “engineers are investigating the root cause.”
After the chain had halted on a few occasions in the past, Solana users are now dealing with an extensive wallet vulnerability that affected specific wallet software such as Phantom and Slope. Solana developers and victims discovered the exploit on Tuesday evening (EST) and the hacker’s method of attack is currently unknown.
Solana is suffering an exploit, which has drained millions from multiple wallets.
One question asks victims if they generated a seed phrase from within the compromised wallet and the survey wants to know where and when the seed phrase was created. The seed phrase question is “required,” according to the Solana hack survey hosted on the Solana Foundation’s website.
The exploit this week has damaged solana’s (SOL) market gains and out of the top ten crypto assets, SOL is the only token down in value against the U.S. dollar on Wednesday. SOL is now in the ninth position as well, when it used to be a top-five contender in the crypto economy a few months ago.
“It is not yet clear at this time whether the attackers exploited a vulnerability in the Phantom wallet or some other hidden weakness in the broader Solana ecosystem,” Mikkel Mørch, the executive director at the digital asset investment fund ARK36 told Bitcoin.com News on Wednesday. “But the hack will definitely cast a shadow over Solana’s credibility as a better alternative to Ethereum – especially when it comes to security. It may even give Ethereum some additional boost from the narrative perspective as the safest and most reliable defi ecosystem,” Mørch added.
What do you think about the recent Solana exploit and how it affected close to 8,000 SOL-based wallets? Let us know what you think about this subject in the comments section below.