The crypto ecosystem has been rocked by a widespread exploit targeting Solana wallets that has been ongoing since August 3rd. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms along with a host of cryptocurrency influencers. blockchain analytics and security firms and victims of the hack as it continued to unfold.

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Several commentators noted that the attackers gained access to users’ private keys because the transactions were legally signed on the chain. Emin Gan Sirer, the CEO and founder of Ava Labs, estimates that more than 7,000 wallets have been affected, and this number is mentioned on the Internet by various people and companies.

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As the investigation begins to uncover the root cause that allowed the attacker to rob thousands of wallets, affected users are being warned not to accept help from people online claiming they have hacking solutions. Heidi Chakos, host of YouTube channel Crypto Tips, stressed that scammers will try to take advantage of the current situation:

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Solana Status has been providing updates since the exploit began and notes that 7,767 wallets were affected as of 05:00 UTC on August 3rd. Several wallets have been affected through mobile and browser extensions.

Solana stressed that users are moving funds to cold storage and creating new seed phrases, while the owners of nearly 8,000 empty wallets have been told they should be “treated as compromised and abandoned.”

Engineers from multiple ecosystems are investigating the root cause of the incident with the assistance of security firms. Users affected by the exploit are asked to give their compromised wallet turns to the Solana Foundation for help with the investigation.

Cryptooshala reached out to Solana for an update on the number of wallets affected by the exploit. It is also unclear if the affected wallets will be refunded or refunded after the incident.