- Fake “Solana Update” has created chaos among the users.
- The malicious update is focused on stealing information from the browser.
- Solana wallet users are suggested to stay away from this “Update.”
A New Issue on Solana Network
Crypto sector is becoming a new fertile ground for hackers across the globe. This is proving really compromising for the projects lacking robust security or are not paying proper attention on it. Recently, someone unleashed NFTs claiming to be a “Solana Update” dubbed UPDATEPHANTOM(dot)com. It says that “The users need to install it ASAP or they can end up losing their wallet funds.”
The attack reportedly began a couple of weeks ago. The attacker issued a warning regarding what can happen in case they do not install it on their devices (Nothing basically, do not focus on his words). He said that “Folks will lose the money following the hackers compromising their wallets easily.”
In case users visit this malicious site, the system will download Phantom_Update_2022-10-04(dot)bat file. Opening it will ask you for the admin permission to enter the system followed by a UAC prompt window and a windll3(dot)exe file. This file can steal your browser’s information easily.
Users are requested to stay clear of such airdrops and only visit the links if offered by the official channels. A small click can become a big ugly picture for you in just a matter of days and you won’t even know it.
How Big These Attacks Can Get?
The hackers do not need anything but a nice little loophole from which they can enter the arena like the Plankton from Spongebob Squarepants. The developers require constant monitoring of the ecosystem or it can end up like the SolarWinds cyber attack. The hack began during 2019 and the government found the exploit the next year.
More instances of how these attacks can boom includes Axie Infinity’s Ronin Bridge hack, Wormhole bridge attack, Harmony bridge exploit and more. Axie Infinity became one of the greatest hacks in the history of cryptocurrencies when the attackers vanished with 625 MIllion USD worth of digital assets during March 2022.
Sky Mavis, the creators of Axie Infinity, said that they will compensate all the attack victims. Situation was handled and the bridge came online in June 2022 after three audits. Another attack includes the Harmony bridge hack during June 2022 where the bad actors secured transaction keys to compromise the network. The developers increased the security following the attack and required four out of five keys for consensus regarding transactions.
The company can use precautions to increase their security to become highly immune of the attacks. They should train the staff to not click on any link they find in their mails without verifying its authenticity. They can install the firewall in their systems, the ultimate protection against malware.
Large organizations can use bug bounties to find and fix the issues. Finally, the firms should back up their data on a routine basis. It will help to revive the network quickly even if any hacker exploits the network.
Source: https://www.thecoinrepublic.com/2022/10/11/malicious-solana-update-nft-can-ruin-your-wallets/