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Today, one of the most curious hacks in the crypto scene happened. More than $6,000,000 in Solana and USDC was stolen from over 8,000 Solana wallets. The hacker used private keys to siphon user funds, which is why it is considered one of the most mysterious hacks in the crypto industry to date. Let’s see how specifically the Solana hack happened.
Timeline – This is how Solana hack happened
It all started this morning when some noticed unusual fund outflows from phantom wallets on Solana. Numerous news thus appeared on social media that users are massively transferring funds from their wallets. Phantom took a position on this and issued a statement that this was not a “Phantom-specific issue”.
Crypto Hacks Are On The Rise – How Do I Protect Myself?
Unfortunately, the Solana exploit is no longer a special case. The fourth biggest hack in crypto history happened yesterday. An update error has allowed more than $190 million to be stolen from the Nomad Bridge. The crypto market has consequently become a popular target for hackers. It is all the more important for small investors to protect their funds in a risky environment. It is particularly striking that hardware wallets are unaffected by almost every hack. That’s why the motto developed in the crypto space: “Not your keys, not your coins.” So if you want to be 100% secure and want to protect your money from hacker attacks or bankruptcies, you should consider a hardware wallet. Only those who keep their coins privately will have a high probability of staying safe from such events.