Phantom Wallet Says Solana Hack Did Not Come From Systems

Godfrey Benjamin   Aug 10, 2022 10:21 2 Min Read

Blockchain wallet services provider Phantom has shared the update from its investigation into the security breach that affected top hot wallets built on the Solana protocol last week.


As shared by Phantom Wallet, the encompassing breach did not originate from any of its systems.

“After almost a week of investigation, our team has not found any evidence that Phantom's systems were compromised during the August 2nd security incident,” the wallet provider said in a tweet, adding that “Work is still ongoing, but given the seriousness of the situation, we want to give an update on what we have done so far.”


The startup said it employed both in-house and external security consultants to help check for vulnerabilities but found nothing. 


The wallet services provider said the report that some of its wallet users were also impacted was true, but it noted that in all of the recorded cases investigated, the affected users imported their wallet addresses or keys from another platform outside of Phantom.


The Phantom team said it is not oblivious of the fact the size of its community makes it a target of cybercriminals. Nonetheless, it reassured its community that it will continue to uphold the best security practices to safeguard its users.


“Given the size of Phantom's community, we know we are a big target. We are committed to following and innovating on security best practices to help onboard the next generation of web3 users,” the startup said in a tweet.


The Solana hack was reported earlier by Blockchain.News with estimates of the looted funds remained unclear at the time. While the Slope network has been indicted as the source of the hack, the breach has beamed more light into the security prowess of the Solana protocol which has recorded a spate of outages in recent times.

Image source: Shutterstock

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