The Proof-of-Stake consensus-based blockchain network Solana is well-known. The Solana network can support 50k transactions per second, which is a huge number for any cryptocurrency network, with the use of the Proof-of-history protocol.
In the previous 10 months, the Solana network has gone offline numerous times as a result of a heavy transaction load and possibly undiscovered vulnerabilities in the Solana blockchain’s coding.
A few hackers have been attempting to fool unwitting Solana phantom wallet users over the past 15 days to steal money.
Hackers are attempting to persuade users of phantom wallets that they must update their wallets for security concerns by using a website called “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM.”
The Solana network was allegedly exploited by hackers, according to the phony security update message.
To steal money, these hackers infect victims’ wallets with malware and hacking scripts. All users of phantom wallets and Solana tokens are urged to avoid any bogus news and security updates of any kind.
Early in August, hackers gained access to the Slope wallet data that was backed by the Solana network, which led to the theft of about $8 million in assets.
The victim’s web3 Slope wallets’ private keys were taken by hackers, who then successfully withdrew money from their victims’ wallets.
According to the incident report, all phantom users should avoid these fraudulent security upgrades and should only trust official websites while looking for any kind of update.
Additionally, they advised installing antivirus on the PC to safeguard it from any malware or viruses.
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