The Solana network is once again facing issues with wallets being emptied since the beginning of the year

The Solana network is experiencing an incident of wallets being emptied. The incident comes amid ongoing attacks that have occurred since 2023. Incidents on the Solana network have historically been relatively rare, but now appear to be of greater concern.

Solana wallet was emptied

There have been multiple reports recently of stolen wallets on Solana. To date, the perpetrators have not been caught. Cryptocurrency wallet emptyer is designed to automatically and quickly empty cryptocurrency wallets by extracting all or only the most valuable assets from them and transferring them to the wallet of the emptyer operator.

Is there an increasing number of Solana wallets being emptied?

Since 2023, Solana users have been targeted by orchestrated wallet emptying software. This is part of a growing number of cryptocurrency scams related to airdrop phishing scams.

Two major Solana wallet emptyers allegedly made off with $4.17 million in cryptocurrency from 3,947 victims, according to research by blockchain security firm Scam Sniffer. These despicable wipers made a whopping $290 million in 2023 from more than 32,000 global victims.

The impact of wallet emptying on the market

A series of high-profile wallet-emptying hacks in late 2023 resulted in huge rewards for cybercriminals, and they weren’t limited to the Ethereum network.

Much of the current work of emptying victims' cryptocurrency wallets may already be automated by wipers. They can first help estimate the value of cryptocurrency assets in a wallet and determine which ones are the most valuable.

They can extract assets quickly and efficiently by creating transactions and smart contracts. Finally, they obfuscate fraudulent transactions as much as possible, making it difficult to know exactly what happened once the transaction is approved.

As a reminder, to prevent this from happening, you can always download programs and wallet software from reputable websites. Avoid using unreliable or third-party platforms. Regular security checks are also necessary. To identify and eliminate any risks, regularly check your devices for malware infections and make sure your antivirus program is up to date.

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