Solana Has Signs Of A Security Vulnerability, Phantom Users Need To Beware

There is a lot of information that some applications on Solana may be experiencing security problems, Solana also suggested that Phantom users should pay attention to not lose assets.

Solana is having a security problem

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.

It has been discovered that many crypto wallets have been massively withdrawn, with a value of up to several million USD. However, there is still no official source to confirm the actual damage figure.

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.

The community also shared how to deauthorize (revoke) the Phantom wallet. 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.

SOL price is plummeting to nearly 8% because of the above information.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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