tl;dr
A software supply chain attack on Solana's Web3.js JavaScript library resulted in a $160,000 loss from dApps and key projects. The attack captured private keys, draining funds from affected dApps. Solana developers urged an update to version 1.95.8 for security. The SOL price fell 1.3% after the att...
Solana's Web3.js hack resulted in a $160,000 loss from dApps and key projects. An update to Solana library version 1.95.8 has been urged for dApp security. Following the $160,000 loss, SOL price fell 1.3%, although it is still up 289.58% year-over-year.
A software supply chain attack on Solana's Web3.js JavaScript library led to a $160,000 loss from affected dApps and projects, as private keys were captured, and funds were drained. Solana developers have recommended an update to version 1.95.8 for enhanced security. Although the SOL price decreased by 1.3% after the attack, it has seen a significant 289.58% rise over the past year.
The attack impacted projects updated between 3:20 pm UTC and 8:25 pm UTC on Tuesday, but non-custodial wallets were reportedly unaffected. The unauthorized code was swiftly removed, halting the money flow, yet some investors reported six-figure losses.
Solana's current trading price is $235.98, reflecting a 1.3% decrease in the past 24 hours, but it has risen notably since December 2023, reaching a market cap of $112 billion.
Moreover, the attack involved the solana/web3.js JavaScript library, impacting users and developers utilizing decentralized applications (dApps) on the Solana blockchain. An account with access to publish the library was compromised, allowing the introduction of malicious code that captured private keys and siphoned funds from affected dApps.
Anza, the Solana development team, clarified that non-custodial wallets should not be affected, as they do not expose private keys during transactions. However, projects directly managing private keys and updated during the specified timeframe on Tuesday were impacted. The unauthorized code was promptly eliminated, and developers were advised to update to version 1.95.8 for security.
According to DeFiLlama’s developer, 0xngmi, some investors reported losses in six figures due to the attack. The on-chain data indicated a loss of up to $160,000, primarily in SOL tokens, along with $31,000 in other tokens. Despite the recent decline in SOL price, it has surged by 289.58% since December 2023, reaching a market cap of $112 billion.