NEAR Wallet Admits Problems Similar To Solana’s Slope Wallet

The NEAR Protocol team claimed to have encountered a similar vulnerability to Solana and threatened the Near wallet, but fortunately they were quickly recognized and promptly prevented the problem.

NEAR wallet has the same problem as Solana’s Slope wallet

In an announcement posted on the morning of August 5, NEAR Protocol’s cryptocurrency wallet application NEAR Wallet admitted to having experienced problems similar to what happened with Solana’s Slope wallet in recent days.

Specifically, on June 6, 2022, NEAR Wallet received a report that information about the wallet’s users had been shared externally. Accordingly, a piece of code of the NEAR wallet allowed the collection of personal data about those who tried to recover the wallet by SMS or email.

After the vulnerability was reported, NEAR Wallet quickly changed the code, deleted sensitive data that had been leaked, and identified individuals who could have access to this data as a precaution. The person who reported the vulnerability also received a commensurate bug bounty reward.

NEAR Protocol claims that since then there have not been any incidents related to the leakage of user data, as well as the exploitation of the above vulnerability.

Even so, NEAR Wallet will no longer allow users to use email or SMS to restore wallets. As a precaution, the project also recommends that everyone who has done it in the past change their wallet password. Users should also disable email and SMS wallet recovery.

As updated in the Coincu News article, Solana encountered a very serious security flaw, resulting in more than 8,000 crypto wallets being stolen, with an estimated loss of $ 570 million. After hours of investigation, Solana pinpointed the cause of the Slope wallet app. Slope is said to have inadvertently transferred the user’s wallet private key information to a third party.

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