Sunday, October 2, 2022
HomeAltcoinsSolana is the new target of Phishing Attacks

Solana is the new target of Phishing Attacks

Users should be aware of recent Solana network phishing assaults, according to Slowmist, a blockchain security firm. This type of theft, according to the firm, is fairly common. Solana recently lost $320 million in Ethereum (ETH) through its Wormhole DeFi token bridge.

The cryptocurrency and NFT ecosystems are rife with opportunities for theft. Over 650 hack instances have been documented by the Slowmist, with users losing over $25 billion globally.

The blockchain security firm has issued a fresh warning about the next possible NFT theft. The Slowmist demonstrated how does it work:

  • The attacker distributes NFTs in batches to users.
  • The user then navigates to the destination website (www.officialsolanarares.net) using the link provided in the airdrop description.
  • Connects to the wallet and selects “Mint” from the drop-down menu.
  • All SOL in the wallet will be transferred after approval.

The user will face the threat posed by the attacker simply by clicking Approve. A malicious contract that initiates Solana Transfer is the threat here. According to the Slowmist, phishing assaults are on the rise.

Solana Wallet Phantom’s security mechanism has been a source of concern for the corporation. There is no comprehensive ‘risk warning’ for users, making it simple for them to be hurt.

Stay safe and alert while dealing with Solana.

 

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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