Solana-based Wallets Have Been Drained By Unknown Hackers

Cryptos: 21,341
Exchanges: 1,668
Market Cap: $1,162,173,268,112 1.07%
24h Vol: $27,575,711,892 22.73%
Dominance: BTC: 44.8% ETH: 18.8%

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visit a crypto exchange<\/a>, and trade your BTC for some other cryptocurrency. Bitcoin tends to have a lot of different trading pairs, and you should be able to exchange this coin for <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">some of the more-popular altcoins on the market<\/a>. You might actually be able to receive some pretty good deals whilst doing so<\/strong>, too!","If you\u2019ve just decided - I\u2019ll buy Bitcoin with debit card!<\/em> -, and are wondering what\u2019s the next step to take, you\u2019ll probably want to make sure that your BTC is as safe as can be, right? Well, in order to protect your Bitcoin, you should take the time to learn about and invest in <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-wallet/">a top-notch, secure, and reliable cryptocurrency wallet<\/a>. Some of the most popular of such wallets include hardware devices<\/strong> - they will surely keep your crypto safe!","One of the greatest features that Bitcoin has is that it\u2019s the most popular cryptocurrency around. With that, you can be sure that, once you buy BTC with debit card, you will be able to spend it in a wide variety of places and online merchants<\/strong>. Not only can you find some great deals (depending on the price of BTC, of course<\/em>), but you\u2019ll also be able to rest assured that your transactions are private and quite anonymous!","The fact that you can buy Bitcoin with credit card instantly also means that you can send it instantly, too - no matter where the recipient is located in the world, they should receive your payment in a matter of minutes<\/strong>. It\u2019s one of the main features of Bitcoin, for sure! It\u2019s also a very popular method of sending payments to friends or relatives who live overseas - not only are the payments super-quick to arrive, but they\u2019re also cheap to make!","Choosing to buy BTC with a debit card at the right point in time can bring you some significant profits<\/strong> - that\u2019s already been proven time and time again. In order to actually make a profit <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">selling the coins on an exchange<\/a>, though, you\u2019ll have to know when to sell your BTC! This does involve a lot of speculation and general crypto knowledge, however, it\u2019s also one of the main reasons why people choose to invest in bitcoin, in the first place.","If you hold some Bitcoin, or have just decided to buy BTC with a credit or debit card, you would probably do well to take the time to learn about your recent purchase! The world of crypto is one that\u2019s full of opportunities<\/strong> - learning about the ways of how you can use your Bitcoins to improve your quality of life can be very rewarding! So, take notes, and be sure to <a href=https://www.bitdegree.org/"//crypto//tutorials/">visit some in-depth guides and tutorials on Bitcoin and crypto<\/a>, in general!"],"faq_questions":["What is Bitcoin?","How does Bitcoin differ from other cryptocurrencies?","What are the main features of Bitcoin?","What can Bitcoin be used for?","Is Bitcoin worth buying?","What is the best way to buy Bitcoin?"],"faq_answers":["<a href=https://www.bitdegree.org/"//crypto//how-does-bitcoin-work/">Bitcoin is the most popular cryptocurrency in the world. On top of that, it’s actually the first cryptocurrency<\/strong>, too - the coin that started it all!<\/em> In a more practical sense, Bitcoin is a digital currency<\/strong> that can be used to make quick and relatively anonymous<\/em> payments online. All of your trades whilst utilizing Bitcoin are going to be private - great stuff!<\/em>","Needless to say, Bitcoin is going to be very different<\/strong> from most other <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">cryptocurrencies on the market. While each cryptocurrency is unique in its purpose and functionality<\/strong>, most of the top coins aim to improve on some certain aspects of Bitcoin<\/strong> - whether it be scalability<\/strong>, transaction speed<\/strong>, or else. That said, Bitcoin still remains the most popular crypto coin on the market!<\/em>","Without a doubt, the main feature of Bitcoin (and also one of the main reasons why people buy BTC with credit cards, and in general<\/em>) is the fact that it’s an autonomous currency<\/strong> - once you purchase some Bitcoin, it belongs to you, and only you. On top of that, Bitcoin provides decent transaction speeds<\/strong>, and due to its popularity, is very liquid<\/strong>, too.","The main use case for Bitcoin is actually rather simple - being a digital currency<\/strong>, Bitcoin's main purpose is to be used in transactions<\/strong>, as a currency, and as an object of value<\/strong>. Frankly, Bitcoin should be bought and used in order to purchase some service or product<\/strong>, or used as an investment tool<\/strong>, be it for the long term, or for day trading purposes.","If you’re wondering whether or not to buy Bitcoin with credit card, you should know - it’s definitely worth it<\/strong>! Bitcoin is as popular now as ever before, and many people around the world still choose it as their go-to<\/em> investment option. If anything, the popularity and demand for this coin are only growing<\/strong> as time goes on!","There are multiple different ways of how you can buy BTC. However, opting to buy Bitcoin with a credit or debit card<\/strong> is usually seen as the best way to go about it. That’s because of the simplicity and speed<\/strong> of this particular method. The process is usually super-simple<\/em>, and will only take you a few minutes to complete! Well, assuming that you use <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">one of the top-rated cryptocurrency exchanges<\/strong><\/a>, that is."],"status":"published","link":"https:\/\/www.bitdegree.org\/crypto\/buy-bitcoin-btc"}},{"id":17,"name":"Ethereum","symbol":"ETH","logo":"\/crypto-prices\/coins\/ethereum.png","slug":"ethereum-eth","price":"1815.257634529400000000000000000000","price_change_day":"-0.150000000000000000","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/ethereum-eth-price","buy_page":{"id":2,"crypto_currency_id":17,"button_link":"https:\/\/www.bitdegree.org\/crypto\/goon\/binance-buy-crypto","slug":"ethereum-eth","created_at":"2020-12-29T08:37:49.000000Z","updated_at":"2023-02-24T10:14:17.000000Z","content":null,"middle_cta_text":"Admittedly, there are various different methods of buying Ethereum. However, anyone wondering about the best method should probably buy ETH with credit card instantly. The \u201cinstantly\u201d part is key here - credit and debit card transactions are super-quick, and most of the time, you\u2019ll receive your funds in but a few minutes. Fiat-ETH transactions, in general, are very simple, too - they don\u2019t require any extensive knowledge in the realm of crypto trading!","intro_text":"While there are multiple reasons why people buy Ethereum with a credit card, the main ones would have to include the technology behind the cryptocurrency in question, and also the investment opportunity that comes with it. The same can be said about many of the altcoins out there, but Ethereum truly does stand out from the crowd as one of the leading cryptos on the market!","reason_titles":["Smart Contract Technology","An Alternative Investment Option","Promote Decentralization by Creating dApps","Your Coins Belong to You, and You Alone","What Can Ethereum & Similar Altcoins Be Used For?"],"reason_texts":["Ethereum is probably most well-known for its smart contract technology<\/strong>. With the help of smart contracts, developers and firms all around the world are able to create new methods of economic and technological interactions, and advance the technology behind crypto even further.","Advanced technology aside, one of the main reasons why people buy Ethereum with a credit card (or any other method out there<\/em>) is because they believe the cryptocurrency to be a great investment opportunity. Etheruem is the second-most-popular crypto coin on the market, after all!","At the core of the world of cryptocurrencies, there\u2019s the aspect of decentralization<\/strong>. Ethereum plays a key role when it comes to this, especially as far as smart contracts and decentralized applications (dApps) are concerned! If you\u2019re a developer, with the help of the technology behind Ethereum, you can help promote this feature, and also help build a world with a decentralized economy<\/strong>!","If you do decide to buy ETH with debit card or credit card, one of the key things you should know is that the coins are going to belong to you, and you alone<\/strong>. Since there are no banks or other central authorities involved, you\u2019ll need to protect your assets, too - this can be done with the help of a secure cryptocurrency wallet. Take your financial freedom into your own hands!","If you\u2019re planning to buy Ethereum with debit card, you likely have an idea what you want to use the cryptocurrency for. However, Ethereum (and similar altcoins) has quite a few different use cases - not only as a tool for investing or day trading!"],"benefits_texts":["If you decide to buy Ethereum with credit card, you can then <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">visit any top-rated cryptocurrency exchange<\/a> and trade your Ether for some other cryptocurrency. Some cryptos can only be bought with the help of other cryptos (due to trading pair limits<\/em>), so if you\u2019ve got your eyes set on a specific, niche coin, buying it with the help of Ethereum might just be the way to go! You are still going to need to purchase ETH first, though.","Once you\u2019ve decided to buy ETH with debit card, you are also going to need to decide on a place to store your freshly-acquired coins<\/strong>. While you have a few different options, one of the best ways to go about it is to invest in a <a href=https://www.bitdegree.org/"//crypto//cold-wallet/">hardware cryptocurrency wallet<\/a>. Most wallets are going to support Ethereum, so you should strive for the highest level of security! In such cases, hardware wallets exceed the competition significantly.","So - you\u2019ve thought about it, go out and buy Ethereum with debit card instantly. What now? Well, why not spend it<\/strong>? With time, more and more merchants and online vendors accept cryptocurrencies as valid payment options - since Ethereum is <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">at the top of the popularity charts<\/a>, you should have no problems in finding services that would accept it, too! You might even be able to score some great, crypto-exclusive deals while you\u2019re at it.","Opting to buy Ethereum with a credit\/debit card (or any other method, for that matter<\/em>) also means that you\u2019ll be able to send the crypto freely, too. Ethereum offers some very fast transaction speeds<\/strong> - once you\u2019ve made a payment, it will be received in a matter of minutes, if not seconds! Ether is also quite cheap to send, too - even if you\u2019re sending some ETH to the other side of the world, the fees are bound to be very reasonable!","Once you\u2019ve bought yourself some Ethereum, you can then store it away and hold it for the long term<\/strong>, or you can participate in day trading, and sell it at the first signs of potential profits. While both methods have their own pros and cons, it\u2019s no secret that purchasing Ethereum as a means of investment is one of the more popular reasons why people get into the world of cryptocurrencies, in general. Choose your investment strategy wisely!","If you\u2019ve decided to buy Ethereum with a debit card, you probably already know some things ETH, or the world of crypto, in general. However, when you\u2019re a proud holder of crypto, you should then also try to improve your knowledge even further<\/strong>! There are a lot of different resources online that can help you out with this endeavor - visit <a href=https://www.bitdegree.org/"//crypto//tutorials/">our cryptocurrency guides<\/a> in order to find out more about Ethereum, and other cryptos, too!"],"faq_questions":["What is Ethereum?","How does Ethereum differ from other cryptocurrencies?","What are the main features of Ethereum?","What can Ethereum be used for?","Is Ethereum worth buying?","What is the best way to buy Ethereum?"],"faq_answers":["<a href=https://www.bitdegree.org/"//crypto//what-is-ethereum/">Ethereum is one of the most popular cryptocurrencies on the market. In fact, it’s the second-most-popular crypto, right after <a href=https://www.bitdegree.org/"//crypto//how-does-bitcoin-work/">Bitcoin. Anyone who’s looking to buy ETH with credit card should keep in mind that Ethereum allows users to create smart contracts and dApps<\/strong>, and promotes the concept of decentralization<\/strong> very adamantly! On top of that, Ethereum 2.0<\/strong> - the major ETH update<\/em> - is taking place at this time too.","Ethereum is a very scalable cryptocurrency<\/strong> that has some revolutionary technology<\/strong> behind it. While it was, for the longest time, a PoW<\/strong> (Proof-of-Work<\/em>) crypto asset, with Ethereum 2.0, it is taking a turn towards PoS<\/strong> (Proof-of-Stake<\/em>), which will increase its scalability and use cases exponentially<\/strong>.","For starters, Ethereum allows users to build dApps and issue smart contracts on its blockchain<\/strong>. This means that the majority of the DeFi companies and economic platforms that are currently taking the FinTech industry by storm are, in one way or another, based on the Etheruem blockchain<\/strong>. The crypto is also scalable, and promotes fast transaction speeds.","Ethereum has a pretty wide assortment of use cases<\/em>. For starters, naturally, most people are going to view Ether as an object of investment<\/strong> - a digital asset, if you will. On top of that, however, the technology behind Ethereum can be used to create blockchains of your own<\/strong>, or build things such as decentralized applications<\/strong> or smart contracts<\/strong>.","If you’re wondering is Ethereum worth buying, the market will tell you - it surely is<\/strong>! Now, naturally, this depends on many different factors, such as your reasons for buying ETH<\/strong>, its current price<\/strong>, various crypto news & regulations<\/strong>, and so on. However, if you want to buy ETH with debit card instantly, keep in mind that this is definitely still an option!","As you probably know, you can buy ETH in many different ways, and on many different platforms. However, if you want the best security and privacy options<\/strong>, your best bet is to utilize <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">a well-known and trusted cryptocurrency exchange<\/strong><\/a>. This way, you will be able to buy Ethereum with credit card, debit card, bank transfer, and many other methods - all from the comfort of your computer or mobile phone!<\/em>"],"status":"published","link":"https:\/\/www.bitdegree.org\/crypto\/buy-ethereum-eth"}},{"id":119,"name":"Tether","symbol":"USDT","logo":"\/crypto-prices\/coins\/tether.png","slug":"tether-usdt","price":"0.999861083648440000000000000000","price_change_day":"-0.160000000000000000","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/tether-usdt-price","buy_page":{"id":32,"crypto_currency_id":119,"button_link":"https:\/\/www.bitdegree.org\/crypto\/goon\/kraken","slug":"tether-usdt","created_at":"2020-12-29T08:37:49.000000Z","updated_at":"2023-02-24T10:59:46.000000Z","content":null,"middle_cta_text":null,"intro_text":null,"reason_titles":null,"reason_texts":null,"benefits_texts":null,"faq_questions":null,"faq_answers":null,"status":"published","link":"https:\/\/www.bitdegree.org\/crypto\/buy-tether-usdt"}},{"id":156,"name":"BNB","symbol":"BNB","logo":"\/crypto-prices\/coins\/bnb.png","slug":"bnb-bnb","price":"308.835609473530000000000000000000","price_change_day":"-0.890000000000000000","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/bnb-bnb-price","buy_page":{"id":50,"crypto_currency_id":156,"button_link":"https:\/\/www.bitdegree.org\/crypto\/goon\/binance","slug":"binance-coin-bnb","created_at":"2020-12-29T08:37:49.000000Z","updated_at":"2023-02-24T10:59:46.000000Z","content":null,"middle_cta_text":null,"intro_text":null,"reason_titles":null,"reason_texts":null,"benefits_texts":null,"faq_questions":null,"faq_answers":null,"status":"published","link":"https:\/\/www.bitdegree.org\/crypto\/buy-binance-coin-bnb"}},{"id":129,"name":"USD Coin","symbol":"USDC","logo":"\/crypto-prices\/coins\/usd-coin.png","slug":"usd-coin-usdc","price":"0.999686532886420000000000000000","price_change_day":"-0.130000000000000000","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/usd-coin-usdc-price","buy_page":{"id":217,"crypto_currency_id":129,"button_link":"https:\/\/www.bitdegree.org\/crypto\/goon\/kraken","slug":"usd-coin-usdc","created_at":"2020-12-29T08:37:50.000000Z","updated_at":"2023-02-24T10:59:47.000000Z","content":null,"middle_cta_text":null,"intro_text":null,"reason_titles":null,"reason_texts":null,"benefits_texts":null,"faq_questions":null,"faq_answers":null,"status":"published","link":"https:\/\/www.bitdegree.org\/crypto\/buy-usd-coin-usdc"}},{"id":176,"name":"XRP","symbol":"XRP","logo":"\/crypto-prices\/coins\/xrp.png","slug":"xrp-xrp","price":"0.460980536715510000000000000000","price_change_day":"-1.870000000000000000","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/xrp-xrp-price","buy_page":{"id":6,"crypto_currency_id":176,"button_link":"https:\/\/www.bitdegree.org\/crypto\/goon\/binance","slug":"ripple-xrp","created_at":"2020-12-29T08:37:49.000000Z","updated_at":"2023-02-24T10:14:17.000000Z","content":null,"middle_cta_text":"While there are quite a few different ways of how you could acquire some Ripple coins for yourself, buying XRP with a debit or credit card will usually be seen as \u201cthe way to go\u201d. For starters, it\u2019s the simplest way of going about it - if you can make a bank or credit card payment, you can definitely purchase Ripple, no sweat! Another notable aspect would be the speed at which such transactions are performed - you can expect your coins to arrive into your wallet in seconds from you pressing the \u201cPurchase\u201d button!","intro_text":"People have multiple different reasons why they choose to buy Ripple with a credit card, bank transfer, or any other method. The biggest appeal of Ripple - same as most other altcoins out there - is the volatility aspect of the coin. While this means that the price of the crypto is going to fluctuate quite a bit, it may also result in the buyer making a decent profit!","reason_titles":["Asset Transfer Availability","Instant Transactions","A Safe and Reliable Network","Integration With Major Financial Institutions","What Can Ripple & Similar Altcoins Be Used For?"],"reason_texts":["Ripple (the company behind the cryptocurrency XRP) prides itself on having built a decentralized network of asset transferring. If you choose to buy Ripple with debit card, and would like to transfer some assets on the Ripple network, you\u2019ll be able to do so with a comparatively small fee.","A feature that is very often discussed among people who want to buy XRP with credit card instantly is the transaction speed of the network in question. Ripple offer users (both individuals, and major financial institutions, such as banks) amazing transaction speeds on their blockchain.","If you decide to buy Ripple with debit card instantly, you\u2019ll be able to do so via a completely safe and secure network. The company behind the Ripple project notes that the decentralized nature of their project makes XRP a very reliable choice for all of your cryptocurrency investing and transferring wants and needs. Start making fast and secure payments today!","One major strength that Ripple has over a lot of other cryptocurrencies out there is the fact that it\u2019s a much more-approachable project for large FinTech firms and financial institutions worldwide. This, in turn, makes Ripple a very liquid option, investment-wise - if you\u2019re looking to buy XRP with credit card, this is a major factor to keep in mind!","Planning to buy Ripple with a credit or debit card, you probably already have a pretty good idea concerning the main purpose that you\u2019d have for this coin. In general, though, people tend to buy Ripple either for investment purposes, or due to the asset transfer network that the XRP cryptocurrency supports and is used for."],"benefits_texts":["If you choose to buy Ripple with credit card instantly, you will likely be able to trade it instantly<\/strong>, too. Ripple is one of the more-popular cryptos on the market - you should be able to find a wide selection of trading pairs that would involve XRP. All that you really need to do at that point is pick <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">the right cryptocurrency exchange platform<\/a>, decide on some other altcoins that you\u2019d like to purchase, and trade your XRP for them!","Upon deciding to buy XRP with debit card, you will probably want to find a good place to store your crypto coins<\/strong>, too! While there\u2019s always the option to keep the coins on an exchange, it\u2019s a better idea to look into <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-wallet/">some of the better crypto wallets out there<\/a>. If you want the best security possible, your best bet is going to be <a href=https://www.bitdegree.org/"//crypto//cold-wallet/">a hardware wallet<\/a> - products such as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//ledger-nano-x/" target=\"_blank\" rel=\"nofollow noindex noopener\">Ledger Nano X<\/a> or <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//trezor-model-t/" target=\"_blank\" rel=\"nofollow noindex noopener\">Trezor Model T<\/a> will keep your XRP secure!","Now, what\u2019s the point of buying Ripple if you can\u2019t spend it, right? XRP can be spent in a few different places, and for a few different services. You can surely purchase products and services with this crypto (it being one of the more widely-integrated cryptocurrencies on the market<\/em>), but you can also use it for various asset transferring purposes on the Ripple network<\/strong>. Buy XRP with debit or credit card, and spend it as you wish!","As you are probably aware by now, the Ripple network offers some amazing transaction speeds<\/strong>. What this means is that you can send your XRP coins to another person, and no matter where that person is located, they will receive your coins in a matter of seconds. So, if you\u2019d like to transfer money to a distant relative, or some friends overseas, Ripple might just be the way to do so! Naturally, they would have to be crypto-savvy, too!","Believe it or not, but most people buy Ripple with credit card in order to\u2026 Sell it!<\/em> XRP is often viewed as one of the better crypto investments, both for long-term hodling<\/em>, and also day trading, too. If you\u2019re knowledgeable about <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">the cryptocurrency industry<\/a>, and have been following Ripple\u2019s development for some time now, the coin (the technology behind it<\/em>) might just be worth considering as a possible investment opportunity!","Now, if you want to buy Ripple with credit card, debit card, or any other method, that\u2019s all fine and dandy<\/em>. However, it\u2019s worth considering the fact that, once you\u2019re an XRP holder, you\u2019ll probably want to broaden your knowledge regarding the coins in question<\/strong>, and the technology upon which they are issued, right? Well, if that\u2019s the case, make sure to check out <a href=https://www.bitdegree.org/"//crypto//tutorials/">our guides on Ripple and XRP, and any other crypto topics out there<\/a>!"],"faq_questions":["What is Ripple?","How does Ripple differ from other cryptocurrencies?","What are the main features of Ripple?","What can Ripple be used for?","Is Ripple worth buying?","What is the best way to buy Ripple?"],"faq_answers":["<a href=https://www.bitdegree.org/"//crypto//ripple-coin/">XRP is one of the more-popular<\/em> cryptocurrencies on the current market. It’s a rather unique crypto in the sense that it has a whole organization behind it<\/strong> (while the company is called Ripple, the cryptocurrency itself is actually called XRP<\/em>). Having this unique feature means that the cryptocurrency has a strong backing, which can be a very important factor for anyone who’s looking to buy Ripple with credit card!","Well, for starters, Ripple isn’t a “community-driven project<\/em>”. The crypto coin has a strong backing<\/strong> - a whole company behind it, which then leads to increased reliability and trust in the project<\/strong>. Anyone looking to buy XRP with debit card instantly should also know that the <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">cryptocurrency can be used in regards to asset transferring on the Ripple network<\/strong>.","Ripple offers users some very fast transaction speeds<\/strong>. Upon making a payment with XRP, you can expect the other party to receive that payment (transfer<\/em>) in a matter of seconds. Ripple is also very secure<\/strong>, censorship-resistant<\/strong>, and there’s a finite number<\/strong> of XRP coins in existence.","The most common reason why people buy Ripple with credit card is for the purpose of investing in the cryptocurrency<\/strong>, in hopes that it will rise in price with time. That said, XRP can also be used as payment for asset transferring on the Ripple network. These assets can be <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency/">other cryptocurrencies<\/strong><\/a>, or even real-world (fiat<\/em>) currencies, too.","Judging by the overall sentiment expressed by the market<\/strong>, it seems that people who are looking to buy Ripple with debit card are going to be reassured - the cryptocurrency is definitely worth looking into!<\/em> While it does depend on a wide variety of different factors<\/em>, in general, Ripple might just be worth considering as a possible investment opportunity!","If you’re looking to buy Ripple with credit card instantly, probably the best option that you’ll have is finding <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">a reliable and high-end crypto exchange<\/strong><\/a> that will allow you to do just that. 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Solana-based Crypto Wallets Face Multimillion Dollar Hack

Wallets

Aug 03, 2022

Another day, another hacking, this time it is targeting Solana-based wallets.

The Solana ecosystem seems to be the latest hacker target. The customers of Solana-based wallets, such as Phantom, Slope, and TrustWallet, have reported the loss of funds.

It is estimated that the hackers stole around $8 million in funds from various crypto wallets.

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Although the cause of the hack is yet to be officially announced, the blockchain investigator, PeckShield has used Twitter to share his version. The user argues that the cause of the hack was a “supply chain issue”, which was used to steal private wallet keys.

According to the Solana Status Twitter post, the hack affected exclusively mobile and extension users rather than hardware users. It has been also estimated that “as of 5 am UTC approximately, 7,767 wallets have been affected.” It seems that the hackers stole Solana’s native token SOL and USD Coin (USDC).

The hack has exclusively affected hot wallet users. These wallets remain connected to the internet at all times, making it one of the easiest ways to receive, store and send crypto.

The users whose funds in Solana-based wallets are yet to be touched are encouraged to transfer them into cold wallets.

After the incident Phantom and Slope took to Twitter to share their insights about the hack. Phantom claimed that the company is working with other teams to identify the causes and the aftermath of this malicious theft.

Slope also used Twitter to calm customers and reassure them that the company is working on identifying and fixing the issue.

Following the hack, Solana’s cryptocurrency SOL has dropped by 4% in value in 24 hours.

The hackers have gotten extremely active in the past month. On July 24th, Audius got hacked and robbed for $1.08 million. On top of that, on August 2nd, Nomad Bridge got hacked and drained of almost all of its funds worth $190,7 million in crypto.

by
Gile K. - Market Sentiment Analyst
, BitDegree

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