How Scammers Compromise Solana Wallets Through Token Burning

The post How Scammers Compromise Solana Wallets Through Token Burning appeared first on Coinpedia Fintech News

Hackers have found a novel way of conning Solana wallets, whereby they instantly burn tokens from the users’ wallets. According to reports, Solana users buying tokens are unable to find them in their wallets. The scammers employ an embedded “Permanent Delegate” extension in Solana’s Token 2022 protocol to facilitate removing or transferring a token within a short period of time after an operation. This wicked strategy has elicited concern amongst the Solana ecosystem since it interferes with tokenomics and its users’ balances. Users are encouraged to exercise prudence and diligence when dealing with tokens on the platform.