SNEAK PEEK
- Solana shared a Twitter thread sharing the investigation’s results that showed affected addresses’ links with Slope mobile wallet applications.
- The exploit was sequestered to a particular wallet on Solana, whereas the hardware wallets remain secure.
- The report concluded that it was evident the Solana Protocol or its cryptography was not compromised.
In a recent Twitter thread, Solana addressed the results of the investigation conducted by the ecosystem teams, the developers, and security auditors. The conclusion came out that the affected addresses amid the exploit were, at one point in their existence, created, imported, or used in Slope mobile wallet applications.
Adding further to the revelation made as the outcome of the investigation, the exploit was isolated to a particular wallet on Solana, and hardware wallets utilized by Slope remain secure.
After an investigation by developers, ecosystem teams, and security auditors, it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications. 1/2
— Solana Status (@SolanaStatus) August 3, 2022
Well, it should be noted that the investigation is not complete yet as the details of exactly how this exploit took place are still not clear to the teams. However, one thing that came to light is the fact that the private key information was unwittingly conveyed to an application monitoring service.
Another major thing to emphasize was that following the investigation, there was nothing that could be held against Solana’s cryptography or the Solana Protocol. Neither of them was reportedly compromised during the exploit.
The exploit did manage to compromise more than 8,000 wallets and contributed to the sum of losses approaching a billion dollars. It was claimed by Solana users that the funds stored in their wallets were drained out without even their involvement.
What came out as a silver lining in the dark cloud is that hardware wallets were proven to be safe during the exploit, and no harm came to those users whose assets were stored in hardware wallets. Following Solana’s mention of hardware wallets and their safety, it won’t be wrong to say that the users will be inclined more towards storing their assets in these wallets.
After the exploit, it can be said that your assets are not safe in these wallets, be it even an exchange wallet. Check out our researched article on the top 5 hardware wallets to protect your Solana SOL, and figure out which wallet would suit you the best for storing your assets digitally in a safer and more secure condition.
