Solana Blames Slope For Private Key Leak In Wallet Exploit

An investigation into Tuesday’s private wallet exploit within the Solana SOL/USD ecosystem revealed that Solana wallet Slope was to blame.

What Happened: The root cause of the attack was due to an accidental leak of users’ private keys from Slope wallets' backend, Solana Status said on Wednesday.

“There is no evidence the Solana protocol or its cryptography was compromised,” stated Solana on Twitter.

The private keys were compromised as a result of Slope inadvertently sharing seed phrases with an application monitoring service, said Solana.

Slope issued a statement addressing the breach, saying they “have some hypotheses” about the nature of the breach but “nothing is yet firm.”

Meanwhile, on-chain analysts speculated that the exploit was possible because hackers gained access to user seed phrases that Slope logged in to its centralized servers.

“I would advise anyone that touched slope to regenerate their seed phrase in a different wallet asap,” said Solana Labs co-founder Anatoly Yakovenko.

Price Action: At press time, SOL was trading at $39.51, up 2.42% over the last 24 hours, as per data from Benzinga Pro.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsSlopeSolanaSolana hack
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!