The source of the Solana exploit, which hit thousands of ecosystem users yesterday, was Slope.
Over 10,000 Solana-based wallets have already been hacked. Slope released a statement last night recommending that all wallet holders move their funds to a safe place.
Phantom, another Solana-based wallet, posted a post pointing out “difficulties associated with transferring funds to and from Slope.”
“We are still actively working to determine if there may have been other vulnerabilities that led to this incident.”
The Solana Status Twitter account also released a statement citing Slope’s involvement in the incident.
And from the latest tweet from the Solana Foundation, it became clear that Slope could store user seed phrases on its servers, which scammers then compromised.
The problem lies not in the blockchain; in this case, the incident could have devastating consequences for the entire crypto ecosystem. The hack is due to a bug in the software used by several popular wallets. The Solana Foundation confirmed that “there is no evidence that the Solana protocol or its cryptography has been compromised.”
Users also claim they have never used Slope, but their wallets were still empty. Later, some complained about the depletion of funds from Trust Wallet accounts.
The total amount lost due to the exploit is not yet known. However, SolScan listed an address with a balance of $570 million among the affected wallets. Most of these funds are in the EXIST token, which either CoinMarketCap or CoinGecko does not track, so the stolen amount is most likely less than $10 million.
