If you own a crypto wallet, then you could be in big trouble!
Nearly 8,000 digital wallets have recently been drained of just over $5.2 million in digital coins including ’s sol token and (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that approximately 7,767 wallets have been affected by the exploit. Elliptic’s estimate is slightly higher at 7,936 wallets.
Phantom said on Twitter that it’s investigating the “reported vulnerability in the solana ecosystem” and doesn’t believe it’s a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets “across a wide variety of platforms.”
Quantum-resistant encryption research is a hot topic because it is felt that quantum computers are almost certain to become prevalent and sufficiently powerful to crack existing encryption algorithms. It is therefore prudent to prepare crypto that can survive future attacks, so that data encrypted today remains safe tomorrow, and digital communications can remain secure.
Due to the uncertain and potentially long time frames, and all of the more immediate threats that businesses are dealing with on a daily basis — there’s “always that risk” that some businesses will just ignore the issue, said Boaz Gelbord, chief security officer at Akamai Technologies.
You need to act now!
We at IronCAP™ have been trying to educate businesses and individuals that Q-day (the day the first quantum hack is publicly recognized) is around the corner and everybody needs to gear up. Nation states and governments are already at it, how about you? To learn more, visit www.ironcap.ca.
IronCAP™ is our latest innovation for the post-quantum cybersecurity. This patent-protected, post-quantum cryptographic system is based on the Goppa Code-based cryptographic technology. It has embedded our proprietary subclass of (L, G) making it not only more secured but also has faster cryptographic operations (key generation, encryption, decryption) than the traditional Goppa Code-based technology (McEliece). We are offering a live demonstration for the general public to try and experience the strength of IronCAP™ post-quantum encryption easily. To learn more, visit www.ironcap.ca.