Solana wallet Phantom reported about the recent exploit in Solana wallets and claimed that Slope Finance was responsible.

On 3 August, we reported that Solana-based two wallets (Namely Phantom & Slope) faced a hack attack and resulted in the loss of more than $8 million worth of funds for these wallet users. Yesterday, no one was fully sure about the main reason behind the exploit and reports were revolving around the bugs associated with Solana Ecosystem, Phantom wallet & also with Slope wallet.

On 4 August, Phantom wallet tweeted that the whole problem was associated with the Slope wallet. And also confirmed that users, who imported or exported the private key from Slope to Phantom & vice versa, only faced the incident.

So, now Phantom is also working with Slope Finance to find out the main issue associated with the wallet and also other possible bugs. And also the team suggested moving funds in a new non- slope wallet with a new phrase seed. 

Slope Finance also responded on this matter through a medium post and said that the team is still not sure whether the problem was associated with its wallet or not but possibly it was part of the vulnerability associated with the wallet and the team is continuously working to find out the issue.

“We are actively conducting internal investigations and audits, working with top external security and audit groups.”

The slope wallet team also suggested users create a new wallet and create a new phrase seed to move all the funds to remain away from such an issue.

“Create a new and unique seed phrase wallet, and transfer all assets to this new wallet. Again, we do not recommend using the same seed phrase on this new wallet that you had on Slope.”

For the hardware wallet users, Team said that there is no issue and people don’t need to take any tension because it was not compromised.

Read also: Former Coinbase official pleads not guilty in federal court





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