What Is Solana's Recovery Action After The Biggest Hacking Incident?

 The global digital asset industry has once again been rocked by a hacking incident, this time the Solana (SOL) network has been targeted. The price of SOL has fallen by 5% since the news broke.

It has been reported that more than 7,500 Solana-based wallets were affected with a total of $8 million being withdrawn by hackers. Among the hacked wallets are Phantom, Slope, and TrustWallet.

This incident has also made Solana the latest target for cryptocurrency hacking. Following that, Solana has launched a survey of the 7,767 affected wallets and their engineers are conducting an investigation to identify the cause of the incident.

He added that their engineers from across the ecosystem have investigated more deeply about the hacked wallet and have received help from several security firms.

He also explained that there is no evidence to show that hardware wallets, where users' private keys are stored, were affected by the incident.

According to Solana, the exploitation has had an impact on the Slope and Phantom wallets.

In addition, Defi experts informed that Solana's private key has been hacked and hackers have stolen Solana (SOL) and SPL tokens (USDC). It has affected wallets that have been inactive for 6 months.

This incident of attack has sparked a long discussion about the security and usability of hot wallets for crypto investors.

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