Solana advised using hardware wallets to store SOL amid targeted wallets hacking


  • Solana shares a tweet amid the targeted hack on the Solana ecosystem; over 8,000 wallets were compromised.
  • The tweet addressed that several engineers from multiple ecosystems are carrying out investigations regarding the same.
  • Solana mentioned that even though the hack carved out a loss of close to a billion dollars, no hardware wallet was impacted.

In a recent announcement, it has been noticed that the Solana ecosystem is undergoing a hard time as an exploit facilitated a malicious actor to drain funds from around 8,000 wallets. The affected wallets include Slope, and phantom and are supposed to have affected both mobile and extension. 

The Twitter thread shared by Solana addressed that engineers and security firms are working together to conclude the case by identifying the root cause. However, there hasn’t been any success in finding the root cause. 

As a matter of fact, hardware wallets were proven safe and secure amid the exploit that led to the draining of wallets. This certainly has led to the encouragement of users to utilize hardware wallets for storing their assets. However, Solana emphasized not reusing the seed phrase on a hardware wallet and advised creating a new one. 

Another key takeaway from the tweet shared on Solana’s official Twitter handle is that the wallets drained due to the exploit must be considered compromised. There is no point in using those wallets again, and the best thing would be to abandon them. 

In addition to this, Solana asked the users whose wallets have been impacted by the exploit to complete a survey. The survey will supposedly help the engineers and security firms identify the root cause of the exploit and will ensure further damage to the ecosystem. 

It’s advised if you have your assets stored in the Phantom or Slope wallet, you must consider storing them on an exchange or, more preferably, in a hardware wallet for the time being.