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More Than 6,000 People Join Solana Drainer Community

Last Updated January 4, 2024 9:00 AM
Teuta Franjkovic
Last Updated January 4, 2024 9:00 AM

. Key Takeaways

  • There is a growing trend of Solana wallet drainers being used by malicious actors to steal user funds.
  • A dominant Solana-specific drainer kit is being promoted by a small group of developers based in Russia.
  • To protect, users should use protective tools and be cautious when clicking on links from unfamiliar sources.

Recent findings by blockchain security firm Chainalysis reveal  that one of the largest online communities focused solely on a Solana (SOL) wallet drainer kit boasts over 6,000 members.

Blockchain security companies have raised the alarm about an increasing trend of malicious decentralized applications preying on users.

Versatile Wallet Drainers Plague Cryptospace

The most effective wallet draining kits are versatile, targeting a range of assets through varied techniques.

There is also a connection between Russia and the relatively small group of developers selling these drainer kits, often accompanied by Russian-language documentation.

Large Solana Drainer Community Raises Alarms About Growing Threat

The largest community dedicated to one Solana drainer comprises about 6,200 members. There is, essentially, one dominant Solana-specific drainer kit, promoted across several channels, all tracing back to the same developer. However, the majority of drainer kits implicated in criminal activities today are not exclusively tied to Solana.

To counteract this risk, people should use protective tools like Wallet Guard. This has recently incorporated safeguards against Solana drainers. Additionally, a prevalent method of attack involves phishing through malicious links.

Solana Drainer Kits Become Hot Commodity Among Cybercriminals

Blockchain security company CertiK has reported  that numerous cybercriminals started selling Solana drainer kits to scammers as of December.

These kits are marketed in private hacker chat groups and on the dark web. Prices start from $250 per month, according to blockchain security platform CertiK.

Crypto drainer kits function by depleting funds from digital wallets. They mainly work through phishing scams, deceiving victims into inputting their wallet credentials on fake websites.

Over the last three months, the price of Solana’s native token, has experienced an increase of over 400%.

Blockaid, a Web3 security firm, disclosed  on January 2 that a specific Solana drainer had siphoned off hundreds of thousands of dollars in SOL and SPL tokens.

Blockaid’s report highlighted the advanced nature of these drainers, noting their ability to trick the simulations employed by Solana wallets. This sophistication leads users to inadvertently authorize harmful transactions.

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