Unidentified hackers broke into thousands of hot wallets. These software-based crypto wallets entail an active connection to the internet and arrange for the transfer of all funds in these wallets to an unknown third party. Solana initially confirmed the Solana Hack in a Tuesday night tweet: Engineers from multiple ecosystems, with the help of many security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are affected. The total amount stolen reportedly in the Solana Hack is more than $5 million in SOL, SPL, and other tokens that live on the Solana blockchain. After the Solana Hack, they told users who were victims of creating another seed phrase and not using their already existing seed phrase for security purposes.

It was said that the hacker accessed the users’ wallets through their private keys.

“Emin Gün Sirer,” a cryptocurrency industry leader, said the transaction was signed, suggesting that the hackers used a tool called Supply Chain Attack to steal users’ private keys.

The Solana Hack had affected about 8,000 wallets, the virtual equivalent of physical wallets where users store their cryptocurrency and the private keys that give them exclusive ownership of their assets.

The foundation said through the Solana Status Twitter account that Engineers are currently working with multiple security researchers and ecosystem teams to identify the root cause of the exploit, which is unknown now.


Solana’s sol token is one of the biggest cryptocurrencies after bitcoin and ether. It fell about 8% in the first two hours after the Solana Hack was initially detected, according to data from CoinMarketCap. It’s currently down about 1%, while trading volume is up nearly 105% in the last 24 hours.

Elliptic said that the problem was with the software used by specific wallets rather than the blockchain itself.

The digital register recording transactions that form the basis of crypto assets showed that a single hacker was involved in the Solana Hack.

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