Hello HODLers!
I was on the beach in Sperlonga (Italy Central Coast) for a few days of vacation when I learned that in the late evening of Tuesday 3 August 2022 that some wallets of the Solana network had been hacked.
So let's clarify a bit because, as usual, a lot of fake news about what happened has come out.
The attack lasted several hours and its main target was the most popular hot wallet in the Solana ecosystem: the Phantom wallet, through which hackers would have stolen the private keys of some users. While this attack was a major blow to the network, the blockchain itself has suffered no damage and continues to function.
So the first fundamental question: has the hacker attack compromised the Solana blockchain?
NO!
The hacker attack targeted Solana's browser wallets, and in particular those that had been inactive for more than six months. The most affected was Phantom, in addition to this the Slope, Solflare and TrustWallet wallets were also violated. The attack seems to be linked to the vulnerability of online wallets and therefore to the compromise of users' private keys. The transactions in fact, if we look at Solana's blockchain explorer, Solscan.io, appear signed by the “real” owners.
Users were not only stolen from SOL tokens, but also other cryptocurrencies and tokens. In particular, the USDC stablecoin, whose stolen sum seems to be higher than that of SOL.
The good news? The funds held on cold wallets and exchanges were not reached by the attack. In short, the hack did not compromise the Solana blockchain but several wallets.
What did the Dapps of the Solana ecosystem say?
Solana's most famous Dapps immediately spoke out about tonight's hacker attack.
1. Magic Eden, the main NFT marketplace, which yesterday announced its intention to become cross-chain, starting to accept offers also in Ethereum for NFT collections, while the hack was in progress, it reiterated the procedure to follow to avoid to lose their belongings.
In summary, the NFT marketplace recommended creating a new Phantom wallet and first transferring the NFTs and then the cryptocurrencies contained therein, if a cold wallet is not immediately available.
2. Meanwhile, the Phantom team has communicated to the community that they are working closely with the Solana team and other protocols. The target? Understanding what happened and why Solana's wallets were hacked. The blockchain company also stated that it does not believe that this is a specific Phantom problem.
Conclusions
Waiting for further news, I hope that this study has been useful to clarify the issue. In essence, the hacker attack targeted Solana's browser wallets but did not compromise Solana's blockchain at all (which would have been disastrous to say the least).
My Favorite Earning Opportunities:
1. Torum – The #SocialFi ecosystem for crypto enthusiasts where you can earn everyday!
Torum is the world’s largest SocialFi ecosystem (Social Network + NFT + DeFi + Metaverse) that is specially designed to connect cryptocurrency users.
The Web3.0 ecosystem is built on a social media platform, integrated with a yield farming platform for DeFi investors (Torum Finance), an NFT marketplace for crypto artists and Avatar NFT for Metaverse enthusiasts.
You can earn XTM daily on Torum Social Network completing missions like "write a post", "like 5 posts", "daily login", "interact with the platform for 7 days straight", "accumulate 50 followers" and many others!
XTM is the multichain utility token (Ethereum + Binance Smart Chain + HECO Chain + Polygon) of Torum ecosystem and it's now listed on Kucoin, Huobi, Uniswap and Pancakeswap.
Here you can find the Whitepaper: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V4.0-EN.pdf
✅#SocialFi Metaverse Pioneer;
✅Backed by Huobi Ventures & Kucoin Labs;
✅Big community of more than 200,000 users;
✅Earn XTM everyday claiming Missions in the Social Network;
✅Sign up with my referral link and complete the verification to earn 7,5 XTM airdrop: https://www.torum.com/?referral_code=makeitreal
2. Earn crypto by walking and not only... Young Platform Step is going to be huge!
What if I told you that you can earn crypto by walking (#Move2Earn), answering to crypto quizzes (#Learn2Earn) and playing #Play2Earn)?
Thanks to Young Platform Step you can accumulate crypto without investing money!
The Italian exchange Young Platform is growing fast and is going to be one of the next giant in the crypto space. That's why I'm accumulating free YNG on Young Platform Step by walking, learning and playing.
You will thank me during the next bull run because these are free tokens and the young platform project has great potential in my personal opinion!
Link Download Young Platform Step App: https://youngplatform.page.link/1kzW1WT6QEKe1CR8A
