Act now! 6,000 Solana wallet drains lurk

As the price of Solana (SOL) has risen in recent months, Solana wallet drain activity has increased, making holders of SOL and Solana-based memecoins more lucrative phishing targets. This week, blockchain security platforms Blockaid and CertiK drew attention to the growing risks Solana ecosystems face at the hands of advanced malware kits known as “wallet drainers.” Solana Wallet Thieves on the Loose In the world of cryptocurrency, “wallet drainers” are a term for a variety of harmful programs and methods that empty users’ cryptocurrency wallets. In the last few hours, we have noticed that many users have been attacked by Solana-based Drainers, a notable example being https://lessfeesndgas.[.]org. This drainer managed to steal SPL and SOL tokens, worth $100,000. All Blockaid allows wallets to remain secure from… — Blockaid (@blockaid_) January 2, 2024 These entities work by tricking users into unknowingly consenting to transactions that steal their assets digital. Losses of hundreds of thousands of dollars are already accumulating. Furthermore, the developers recommend caution as potential risks come out of the Ethereum ecosystem. According to Chainalysis, the Solana drainage community is the largest in size and consists of more than 6,000 members. Phishing attempts are more likely to target holders of SOL and Solana-based memecoins due to the correlation between the recent increase in SOL prices and the increase in SOL wallet drain activity. SOL’s market capitalization is currently $43 billion. Chart: Brian Carter, senior intelligence analyst at Chainalysis, revealed that the most effective drain tools are adaptable and employ various techniques to target a variety of assets. The analyst highlighted connections between Russia and a small group of developers who sold drainage kits, often accompanied by documentation in Russian. December marked the beginning, according to a report by blockchain security firm CertiK, of the sale of Solana drainage kits to scammers by a multitude of cybercriminals. #CertiKSkynetAlert 🚨 In December we saw many cybercriminals start offering Solana Drainers to scammers. Below are some of the providers we have found that have recently started offering SOL Drainer services. Beware of a likely increase in phishing attempts targeting SOL holders — CertiK Alert (@CertiKAlert) January 2, 2024 Business channels for these devices Includes the dark web and private chat groups hackers. According to CertiK, monthly fees start at $250. The exact magnitude of the losses suffered by all SOL drains is currently unknown; However, CertiK analyst Joe Green drew attention to a comparable strategy seen in Ethereum Virtual Machine (EVM) drains, in which the provider retains a portion of the stolen assets. 🚨 SOLANA WALLET WRINKER We have detected that a new Solana wallet wringer kit is being actively distributed. This targets popular meme coins like Bonk, Jupiter, Chonky, Galactic Geckos, and dogwifhat. Our browser extension now proactively blocks these websites. 🫡 — Wallet Guard (@wallet_guard) December 29, 2023 In light of the growing threat, Carter recommended the use of defensive tools like Wallet Guard, which recently added protections against SOL drains. He highlighted the exploitation of individuals’ FOMO (fear of missing out) by emphasizing that phishing via malicious links remains a predominant attack vector. However, the unpredictability of precision wallet attacks requires increased vigilance. Assuming accounts are breached, developers must implement layered security measures due to the exponential growth in losses. Featured image from iStock

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