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Solana hot wallets reportedly being drained to unknown address “Htp9MGP” – totaling over $6M Solana hot wallets reportedly being drained to unknown address “Htp9MGP” – totaling over $6M

Solana hot wallets reportedly being drained to unknown address “Htp9MGP” – totaling over $6M

Uncertainty is creating true fear, uncertainty, and doubt in real terms for wallet owners on the Solana blockchain at present.

Solana hot wallets reportedly being drained to unknown address “Htp9MGP” – totaling over $6M

Cover art/illustration via CryptoSlate

Up to $6 million in crypto has been drained from Solana wallets within the last 10 minutes, according to CryptoSlate sources. Users are reporting that entire wallets have been drained of funds, with little currently known as to the source of the issue.

Comments on just this post alone include many users claiming also to have had their wallets drained. No trend or source of the exploit has currently been identified.

Crypto trader Bilal Ahmed suggested to CryptoSlate that it may be related to an NFT mint by Rakkudo. Ahmed is aware of over 500 SOL being stolen from within his personal network of traders. Theorizing the cause of the event, Ahmed suggested,

“Rakkudo minted today, currently, it seems to be wallets linked to wallets that tried to mint. But it’s really odd as it’s also draining main wallets, not just burners.”

There has been no official statement from the Rakkudo team on its official Twitter account at this point.

Another Twitter user accused SolaLand of being responsible for the exploit resulting in the project posting the following tweet.

Uncertainty is creating true fear, uncertainty, and doubt in real terms for wallet owners on the Solana blockchain at present.

Although the cause of the exploit is yet unknown, Oone wallet, in particular, has been mentioned throughout the reports. “Htp9MGP8Tig923ZFY7Qf2zzbMUmYneFRAhSp7vSg4wxV” currently has a balance of $6 million, with the majority being stablecoins. The wallet received hundreds of transactions from unique addresses at 23:22:57 PM +UTC on Tuesday, August 2.

Youness Kasmi, founder of Private Foxes, also identified 2 other wallets draining users’ funds.

This is a developing story, and the article will be updated with further news. 

UPDATE: Magic Eden is now also telling users to revoke permissions to dApps.

UPDATE August 3, 10 AM BST: Reports suggest the exploit is related to Phantom wallets as seemingly no hardware wallets have been affected at this point. The project tweeted that it is working with “other teams” but believes it is not a “Phantom-specific issue.”

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.

UPDATE August 3, 9.45 PM BST: Read our follow-up article here for further information.

Posted In: , Hacks, Rumors, Wallets