[Update III] **WARNING** Millions Already Drained in Continuing Solana Based Wallet Hack

To review the original base article, click here.

To review 'Update II', click here

August 3, 2022 @ 07:57 ET

"Foobar is now declaring that the issue may be related to the compromised private keys of the affected wallets. The assumption is founded on the fact that tokens such as USDC have been sent as direct transfers to another wallet instead of interacting with a smart contract that requires approvals. Token transfers are signed by the users themselves, thus pointing toward private keys being compromised" [Wright, L. Solana wallets reportedly being drained to unknown address “Htp9MGP”. (Accessed August 3, 2022)].

"According to CoinMarketCap, which also cited a 45 percent increase in trading activity over the past 24 hours, news of the hack caused an 8 percent decline in Solana's value. The price of SOL has since rebounded and it is currently trading down around 4 percent at 38.97, according to data from CoinMarketCap" [Merchant, M. Millions drained in latest Solana wallet hack
Solana takes to Twitter:

"As investigations begin to unpack the root cause that allowed an attacker to pillage thousands of wallets, affected users are being warned not to accept help from individuals online purporting to have solutions to the hack. Heidi Chakos, the host of the YouTube channel Crypto Tips, stressed that scammers would be looking to exploit the ongoing situation" [Jenkinson, G. Solana wallets 'compromised and abandoned’ as users warned of scam solutions. (Accessed August 3, 2022)].

"Engineers from multiple ecosystems are investigating the root cause of the incident with assistance from security firms. Users affected by the exploit are being asked to provide their compromised wallet addresses to the Solana Foundation to assist in the investigation" [Id]. For access to the form to submit your compromised wallet address to Solana, click here