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Solana and Slope confirm security breach of wallets

Published by
Nonhlanhla P Dube

The two projects claimed they are currently investigating the hack, but they confirmed that it hit Slope, a Solana third-party wallet.
The Solana Foundation and Slope have released new details on a security vulnerability that affected thousands of wallets.

Solana Acknowledges Wallet Breach

The Solana Foundation has released more information concerning the attack.

Previously, over 8,000 addresses were reported to have been drained via a breach of the third-party wallet app Slope.

On the Solana Status Twitter account this afternoon, the Solana Foundation stated that the addresses implicated by the assault “were at one point created, imported, or utilized in Slope mobile wallet programs.”

It went on to say that private key information was inadvertently provided to an application monitoring service. It stated that additional details “are still being investigated.”

Slope’s downloaded wallet program was only compromised by the assault; Slope hardware wallets remain secure. Despite the fact that hundreds of wallets were emptied, the Solana Foundation stated that the Solana protocol itself remained secure.

Slope also weighed in on the situation. It confirmed that a “cohort” of Slope wallets had been compromised and that several of its own staff wallets had been drained.

Slope stated that the nature of the attack has not been confirmed. “We have some hypotheses regarding the nature of the breach, but nothing is definite yet,” Slope said in a statement. It promised to provide a thorough post-mortem report in the future.

The company also advised users to take action to protect their funds. It recommended that customers create a new seed phrase and wallet and move their funds to that wallet.

Both corporations claim to be conducting internal investigations and collaborating with external auditors.

Earlier today, additional members of the Solana ecosystem gave information and speculated on the attack.

This year, at least two other projects in the Solana ecosystem have been compromised. In March, Cashio was hacked for R469 million, and Wormhole was hacked for R5 billion in February.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
Tags: Slopesolana
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