At Least $4 Million Worth of SOL and USDC Stolen from Users’ Wallets

In a hacker’s attack originating on the Solana Phantom wallet, thousands of people have lost their SOL and USDC crypto funds. The value of the stolen crypto is estimated to be between $4 million and $6 million.

According to Watcher Guru, some 8,000 wallets were hit. The attacker used crypto traders’ private keys to transfer the funds, but the exact details about how the hack was pulled-off are still unclear. A respected crypto author and analyst, 0xfoobar, is suspecting an upstream dependency supply chain attack.

The Phantom Wallet team is working with other Solana departments to patch the exposed vulnerability in the system.

The value of Solana immediately plunged following the news. According to CoinMarketCap, two hours after the attack its price dropped by 8%, amounting to $38.28. Currently, it sits at $39.29 – a slight improvement.