Solana is currently experiencing a series of drain attacks linked to meme coins, resulting in reports of financial losses due to unauthorized access. Developers are advising users to take action by revoking app permissions to protect their assets from potential exploitation.

Reports suggest that wallets on Solana are being drained without any identified culprits. As a precautionary measure, it is recommended to disconnect from applications for the time being.

Although the source of the attack is uncertain, some have pointed fingers at BONKbot, a Telegram trading bot operating on the Solana network, as a possible trigger. However, developers associated with the project have denied any involvement, acknowledging the existence of exploits within the ecosystem.

According to the BONKbot team, users whose wallets were compromised had previously exported their private keys. Those who did not export their keys remain unaffected, as confirmed by the team.

This incident is not the first time Solana has faced drain attacks. In October 2022, a significant exploit in the ecosystem resulted in over $5 million in losses for thousands of users. The exploit was linked to Slope Finance, with affected addresses associated with its creation, importation, or use in a mobile wallet application.

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