October 3, 2022


Slope Wallet has announced a 10% bonus and no legal action will be taken if the hackers return the funds from Solana wallets taken earlier this week.

In the Twitter announcement, the wallet provider Solana included a specific wallet address where hackers must return 90% of the funds.

It also gave an ultimatum of 48 hours starting at 8:30 PM UTC on August 5, 2022. In addition, the wallet provider promised not to proceed with its investigations or pursue legal action if it received the funds during this period.

In addition, the Slope Finance team claimed to have partnered with leading blockchain intelligence firm TRM Labs and worked with law enforcement agencies. But its main priority remains the safe return of users’ funds.

However, the chances of a hacker to take the deal are low. As one user noted, “Cryptography provides anonymity with the ability to launder assets for an indefinite period.” So the identity of the hacker may remain secret unless it gets dirty.

Slope was one of the most important Solana governors affected by the recent hack. Other hacked wallets include the likes of Phantom, Solflare, and TrustWallet.

Ramp advises users to create new wallets

Meanwhile, the Slope Finance team advised all users to create new wallets with new seed terms and move their assets there. He added that users should not use the same initial phrase for the new wallet.

This practice of storing users’ raw statements has been criticized by many in the crypto community, since wallets are supposed to be dishonest.

In the official speech Shared Immediately after the attack, the wallet provider stated that “many of the wallets of our employees and founders are exhausted,” and it is working to “recognize and correct.”

Solana’s wallet breach has been tracked down the slope

According to the information available, more than 8000 Solana wallets lost their funds in the attack, with more than $4 million drained from Slope Wallets alone.

While the root cause of the attack was not quickly discovered, the blockchain network traced the attack to the Slope wallet.

Blockchain security firm OtterSec discovered that a hacker gained access to Slope’s central Sentry server, where all users’ initial statements were stored in plain text.

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