The Solana blockchain hack has entered its second day.
Yet, there is no firm consensus on the source of the exploit or how it might be stopped.
As at the time of writing, the Layer 1 network said 7,767 wallets had been affected.
A report from security firm Anchain estimated that more than $5 million in assets had been taken.
Solana Labs co-founder and CEO Anatoly Yakovenko has said on Twitter the incident is likely a “supply chain attack” on wallets using Apple’s iOS operating system.
Supply chain attacks happen when a hacker enters and modifies software by injecting their malicious code in a system.
In Solana’s case, it’s possible that a hacker attacked its iOS wallet libraries to extract private keys, based on the team’s analysis.
Gaining access to private keys means the hackers had the ability to transfer out funds from hot wallets, including Phantom and Slope wallet services.
More than 7,000 Solana wallets have been hit in this hack.