A recent security case has renewed concerns within the Solana ecosystem after a user lost more than $3 million in a sophisticated phishing incident. The breach exposed a little-known risk within Solana’s account structure and showed how attackers can alter wallet permissions without showing any visible change during signing.
How Attackers Exploit Solana’s Permission Framework
SlowMist reported that the attacker gained control of the wallet by modifying its Owner permission through a deceptive signature request. The transaction showed no balance movement, which lowered suspicion.
Moreover, many Solana users assume their account ownership works like Ethereum’s EOAs. Hence, they do not expect ownership to change with a single signature. This misunderstanding creates room for attackers who design transactions that appear harmless while delivering high-risk operations.
Additionally, experts note that Solana uses several account types, including normal accounts and PDAs. Token accounts operate under rules enforced by their token program.
These structures improve efficiency but introduce more areas for attackers to target. Significantly, the recent case involved several layers of permission manipulation, which allowed the attacker to route funds through multiple platforms and addresses.
Complex Laundering Routes Show Evolving Phishing Methods
Investigators at MistTrack traced the attacker’s movements and found rapid, multi-platform fund rotations. The route included cross-chain cycles, CEX deposits, and the reuse of DeFi assets.
Moreover, two major wallet hubs handled most of the transfers, showing a pattern seen in other advanced laundering schemes. The victim also had another $2 million locked in DeFi platforms. Relevant protocol teams helped recover those assets, showing the value of quick reporting.
How Solana Users Can Reduce Risk
Security firms emphasize caution. Users should verify URLs, confirm transaction details, and avoid interacting with unknown links. Additionally, they should maintain separate wallets for high-risk activities and store valuable assets offline. Moreover, they should avoid unlimited approvals and review every permission request carefully.