Aug 04, 2022 Camille A. Hanard

Slope Wallet is allegedly connected to the most recent Solana hack

Solana’s mobile wallet Slope is blamed to be responsible for ongoing security exploit that has so far drained about $6 million worth of crypto assets from more than 10,000 hot wallets including Phantom and Trust. 

Yesterday, Solana shared preliminary findings of their investigation on Twitter where the Slope wallet provider has been identified as a primary suspect in the breach. “It appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications,” the Twitter post reads. 

According to the Solana team, the root cause of the attack was an accidental leak of hot wallets' private keys to a third party. It is also claimed that there was "no evidence to suggest the Solana protocol or its cryptography was at risk from the attack".

Shortly after, Slope issued a statement acknowledging that “a cohort of Slope wallets were compromised in the breach” and recommended its users to create a “new and unique seed phrase wallet” and transfer all assets there as old hot wallets could fall under risk later on. 

According to crypto researcher @0xfoobar, this attack happened not due to Slope’s coding error, but because hackers gained access to wallets seed phrases that Slope logged into its centralized servers. 

Recent news:

Video Tutorials