On the morning of August 3, the crypto community on Twitter is passing many reports that the Solana network may be experiencing a major security hole.
Many people have discovered that many crypto wallets have been massively withdrawn, with a value of up to several million USD. According to OtterSec, blockchain auditing firm has had more than 8,000 Solana wallets have SOL and SPL tokens stripped in the past few hours amounting to $580M, related to Phantom and Solana.
Here are the 4 wallet addresses that stole $580M:
The source also confirmed that the vulnerability is related to the NFT Marketplace Magic Eden platform and the Phantom Wallet, but there is no proof.
The official Magic Eden Twitter page acknowledges Solana is experiencing security issues across the ecosystem and advises users to deauthorize the Phantom wallet to protect themselves, indirectly acknowledging Phantom as a faulty platform.
Meanwhile, Phantom is working with other projects in Solana to find vulnerabilities and claims to not believe its wallet product is the platform that is having issues.
“At this time, the team does not believe this is a Phantom-specific issue. As soon as we gather more information, we will release an update.”
After the above information appeared, the SOL price continuously dropped sharply by nearly 8% to $37 before recovering.