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forms, and deceive victims into signing malicious transactions<br />
to steal everything they have. But how successful<br />
are they? The scariest part is how far a single motivated…<br />
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the largest impediments to mass adoption for Solana. The<br />
dynamic it creates makes web3 inhospitable to anyone<br />
other than the truly battle-hardened.<br />
Quote<br />
Almost every person in the space knows somebody who<br />
has been drained, and the reason is obvious: Millions of<br />
scam NFTs are sent out to anyone with a wallet on Solana<br />
— every single day.<br />
Slorg<br />
Imagine if anyone could toss wadded up pieces of paper<br />
into your bank account. And on days when you might be<br />
a bit too tired or uncritical, you open to read one — and<br />
suddenly your life savings is gone. This is the current wallet<br />
experience for many people.<br />
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But why are these drains even possible? This will be easier<br />
to understand with 3 examples: 1. The Bitflip Attack: You<br />
sign a txn, and the bad actor is able to alter a state in<br />
the smart contract(which you approved) from inactive to<br />
active.<br />
Because there is a 2 minute window before transactions<br />
expire, the bad actor can toggle this state on. Then he<br />
sends the transaction to the network with the malicious<br />
smart contract now in an active state.<br />
Not only that — but bad actors are on the ground posting<br />
scams under tweets, and preying on people in Discord.<br />
More recently, they’ve begun forming affiliate groups<br />
where they teach others the skillset for a cut of the profit.<br />
It would not be an overstatement to say that this is one of
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