Solana wallets are experiencing a severe cyberattack that has nearly drained $8 million. A leading [SOL-based NFT](/news/article/solana-nft) marketplace, Magic Eden has sent an alert to its users to cancel permission for dubious sources. The marketplace has pointed out that there has been a widespread exploit on the SOL blockchain. 

## Solana wallet funds being transferred to unspecified addresses

Many Solana wallet holders are reporting a loss of funds on Twitter. The funds from these wallets are being transferred to an unspecified address. However, some users have claimed that the wallet where all the SOL funds are drained is “Htp9MGP8Tig923ZFY7Qf2zzbMUmYneFRAhSp7vSg4wxV”.

![solana wallet 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/solana_wallet_1_91ef2d1dd4.png)

Mainly, the hot wallets are being targeted. Therefore, the hot wallets on Phantom and Slope are at the risk of being hacked and drained. So far, these wallets, including Magic Eden, are the firms that have reflected on this hack.

[Phantom](https://twitter.com/phantom/status/1554626111535026177) has ensured that it is working with its team to gather the information regarding the hack. Also, it has clarified that the hack is ‘Phantom-specific’. Likewise, Slope commented on the hack and said its team is working to identify the issue. Moreover, Slope is also updating its users regarding the developments. 

On the other hand, Magic Eden has also confirmed the breach in the SOL blockchain. Moreover, it has provided directions for its users to keep themselves safe from the cyberattack. Magic Eden has firstly directed to cancel permissions to unverified sources. Secondly, the marketplace has suggested transferring the Solana wallet funds to either a new or cold wallet. 

![solana wallet 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/solana_wallet_2_bd3fd1d4cc.png)
 
[Source](https://twitter.com/MagicEden/status/1554620084831674370)

## What’s the issue?

Though there is limited information regarding the breach, some speculate it to be a ‘supply chain issue’. PeckShield, a blockchain investigator, has pointed out that the supply chain has been breached before to steal the private keys. This could be the reason behind the Solana wallet hack that transferred funds to an unknown address.  



Cyberattack on Solana wallets drained $8 million

MetaMask security is at risk! According to a blockchain security firm Halborn, a new phishing attempt is targeting Metamask [cryptocurrency wallet holders](/news/article/crypto-wallet-multiple-currencies).

Cybercriminals and hackers are profiting on the cryptocurrency airgaps, and as various crypto  businesses grow in popularity, so does the number of frauds and other hacking events targeting cryptocurrency organisations and investors. Technical education specialist Luis Lubeck of blockchain security firm Halborn released [details](https://halborn.com/warning-active-metamask-phishing-campaign/) on how skilled fraudsters attack Metamask holdings via a new phishing effort.

## Look out for suspicious emails

The fraud involves scamming users with emails and convincing them to readily surrender their passwords. According to Halborn, the email appears real at first sight, with Metamask's header and logo proving its validity.

It also includes a message advising users about Know Your Customer (KYC) rules and ways to validate their wallets. However, after reviewing one such email, the blockchain security firm discovered many red flags.

The email had various typographical problems, as well as a bogus sender's email address with the site ‘metamaks.auction’. Halborn further stated that the server used to deliver the email had nothing to do with the legitimate Metamask organisation.

At the bottom of the email ,a ‘Verify Your Wallet’ request was placed which when clicked, directed users to dockwo.com - a domain unrelated to Metamask.

This fraudulent website prompted users to enter their password. According to Halborn, once the victim enters the required passcode, they are actually redirected to the real MetaMask website, which misleads the victim into believing that everything is in order, but the fact of the matter is that the details of their crypto wallet has already been exposed, and the scammers now have all the information they need to access the victim's digital assets.

Keeping in mind the MetaMask security, and fraudsters becoming more sophisticated, the security firm suggests users' to be extra safe, utilise 2FA in every account and update multi-layer security solutions.



MetaMask security at risk!

There are two types of crypto currency wallets, namely hot and cold storage wallets. Keys are used in hot wallets (a type of cryptography, like a password). They are produced or kept on a connected device and are less secure than cold wallets.

A cold wallet is a storage option that does not have internet access. They are also known as [Hardware wallets](/news/article/cryptocurrency-hardware-wallet) since they employ physical media, generally in the form of a USB stick. It is the most secure sort of wallet since hackers would need access to your device and the related PIN/Password.

There are several hot/cold crypto wallets for multiple currency storage in the market, making it difficult to select an ideal wallet for your crypto storage requirements. For your convenience, we have reviewed a curated list of top hot and cold crypto wallets to store multiple currencies in 2022.

## 1.	Coinbase Wallet
If you're new to cryptocurrency, the Coinbase wallet must be your go-to simple hot wallet. This is free, easy to use, and linked to the exchange, implying that these crypto wallets supports multiple currency storage. It supports hundreds of cryptocurrencies and is noncustodial, which means you keep ownership of your private keys.

## 2.	Trezor
When it comes to hardware wallets, the [Trezor](https://trezor.io/) is a name that is often mentioned. Developed by SatoshiLabs, this wallet is one of the most popular on the market, and for a good reason. It's easy to use, making it ideal for those who are new to cryptocurrency.

The Trezor can store a wide range of coins, including Bitcoin, Ethereum, and Litecoin, and can be used on both Windows and Mac operating systems. Plus, it integrates with a number of online exchanges and wallets, making it a great all-around option.

## 3.	Ledger Nano S
Ledger Nano S is one of the best hard wallets around. This small, USB-sized device is a secure way to store your cryptocurrency offline and can be used to sign transactions and check your balance.

The Ledger Nano S is a great option for those who want to keep their cryptocurrency safe. These wallets are hosted by third-party providers and offer a variety of features, including support for multiple cryptocurrencies, 2-factor authentication, and backup options.

## 4.	GreenAddress
When it comes to hardware and online crypto wallets, GreenAddress is a name that stands out from the rest. This wallet is well-known for its user-friendly design, security features, and support for multiple currencies.

One of the things that sets GreenAddress apart is its multi-signature technology. This means that you need more than one key to access your funds—even if someone gets their hands on your wallet, they won't be able to steal your coins. Plus, GreenAddress offers 2-factor authentication and a host of other security features to keep your funds safe.

If you're looking for a reliable and user-friendly online crypto wallet, GreenAddress is a great option.

## 5.	MetaMask
To trade your cryptocurrency, a hot wallet is necessary since it will make transactions easier and faster. With that in mind, [MetaMask](https://metamask.io/) has been popular among cryptocurrency traders since it provides fresh entry points into the Web3 realm.

MetaMask supports numerous Ethereum-based blockchain networks (including Binance), NFTs, and all Ethereum-based coins. It's a popular, simple wallet that works with everything built on Ethereum, which accounts for a sizable portion of the Web3 world. These qualities, when combined, provide it an advantage over competitor wallets.

You can use Metamask to store NFTs and other collectibles, as well as to swap or acquire tokens and coins in combination with a hardware wallet (such as Trezor or Ledger). So, if you want to learn more about NFTs and the metaverse, MetaMask is a good place to start.
There are a lot of different crypto wallets to store multiple currencies out there, and it can be tough to figure out which one is right for you. Hardware wallets are a great choice if you're looking for maximum security. They're offline, so your coins are safe even if the internet goes down, and they're immune to viruses and hacking attempts. Online wallets are great for convenience - you can access them from anywhere in the world, and they're perfect for small transactions or everyday use.

The choice of crypto wallets depends on the investors needs. Every investor is unique, so conduct extensive research on all of the crypto wallets that support multiple currencies on the market and choose the model that is most closely matched with your investment activity and goals.


Top crypto wallets that hold multiple currencies 

In a June 30 blog post, cyber intelligence firm Cyble stated that it has been watching the crypto malware known as "[PennyWise](https://pennywisecrypto.com/)," named after the monster in Stephen King's horror novel "It," and initially discovered in May. Cyber added that their investigation indicates that the stealer is an emerging threat. 

Data obtained from the victim's Computer include Chromium and Mozilla browser information, Bitcoin extension data and login information. It can also grab screenshots and take over chat sessions from apps like Discord and Telegram. 

The crypto malware PennyWise also targets cold crypto-wallets such as Armory, Bytecoin, Jaxx, Exodus, Electrum, Atomic Wallet, Guarda, and Coinomi, as well as wallets supporting Zcash and Ethereum by searching in the directory for wallet files and sending a copy of the files to attackers. 

The cybersecurity firm added that the PennyWise infultrates via YouTube mining education videos that offer viewers to download free Bitcoin mining software. The fraudsters create videos in which they advise viewers to follow the link in the description and download the free BTC mining software while also pushing them to disable their antivirus software, enabling the malware to operate successfully. 

According to Cyble, the attacker had 80 videos on their YouTube account as of June 30. However, the channel has since ceased to exist. Similar connections to the crypto malware PennyWise are still on some YouTube channels, with videos offering free NFT mining, cracks on paid software, free Spotify premium, and game hacks and modifications. Many of these accounts came to light in the last 24 hours.


## Who are behind these cyber-attacks?

Chainanalysis recently revealed that "low-skilled hackers" are deploying malware to steal assets from cryptocurrency holders, with crypto-hacking accounting for 73% of the total value acquired by malware-related addresses between 2017 and 2021.


For the latest Crypto Coin News, visit [Latest Moni](/news).






Crypto malware PennyWise spreads through YouTube

This guide will help you learn about the different types of cryptocurrency wallets, how they work, and which one to choose. Once you've read this article, you'll have a better idea of which crypto wallet is best for you. 

The use of cryptocurrencies has increased for both businesses and individuals alike. It has revolutionised the world economy and empowered the masses. But this also poses a threat of cyber theft that could result in immense financial losses. One way to keep your cryptocurrencies secure is to invest in the best wallet crypto traders use, which will keep your money safe and help manage your digital assets.
There are many to choose from, which helps explain why so many people Google 'best wallet crypto' happen every day.

## So, what is the answer to the search 'best wallet crypto'?

There are various types of wallets in the crypto market. However, they generally fall into two categories; hot wallets, also known as software storage, and cold wallets, often referred to as hardware wallets.

One might wonder which is the best wallet crypto users choose: hot or cold? Let's get some insights into it and explore some of the best crypto hot and cold wallets!

## Why Do You Need a Crypto Wallet?

You can easily store your crypto coins in the exchange from where you bought them. It is more convenient and less complex, but does it ensure the security of your coins? Unfortunately, the answer is negative. Your crypto money in the exchange is always vulnerable to cyber attacks.

Having a secure and efficient crypto wallet is necessary, especially when you are making investments on a larger scale. These e-wallets provide more security and speed up the transaction processes. In addition, some of the best crypto wallets in the market would allow more liquidity, support for different coins, ease of use, and better control over your assets.

## What are Hot Wallets?

Hot crypto wallets are the most commonly used e-wallets for holding crypto coins. These wallets have internet accessibility, which allows you to have smoother transactions. You will be able to conveniently liquidate your assets and make trades on the go. Besides, hot wallets offer you to sign up for free. They also have an intuitive interface, so managing one is not a problem.

Though hot wallets are decentralised, there is still a risk of cyberattacks. They are often protected with only one password, making it easy for criminals to hack in. That's why hot crypto wallets still pose a security threat for crypto investors. Nonetheless, this type of wallet is suitable for people who prioritise convenience and liquidity for quicker trading.

## How do they work?

Accessing cryptocurrency is only possible if you use your private keys. These keys need to be protected for which you have e-wallets. For this reason, a hot crypto wallet provides you with soft storage where you can securely keep your private keys.  

Hot crypto wallets are software that you can run on your device's storage and cloud servers. They can support PCs, laptops, smartphones, and other gadgets for running the software and provide you with an interface through which you can access your account.
To manage a hot e-wallet, you would require continuous internet access. But you can easily set up transactions and manage your crypto coins because of its easy-to-use interface.

## Features of Best Crypto Hot Wallets

1.   Convenience
Hot wallets are best known for their convenience and user-friendly interface. Handling a hot wallet is as easy as operating any other app on your phone. Its interface gives you straightforward options for initiating transactions, checking balances, liquidating funds, and more. With this convenience, you can make quick trades.
2.   Faster Trading
With high convenience comes faster trading. With these wallets, you can access your crypto money through your smartphone and trade anywhere. It speeds up the transaction process, so you can always be active.
3.   More Liquidity
Another valuable feature of hot wallets is that you can liquidate your funds instantly. That means you can easily convert your crypto money into cash whenever you want.
4.   Compatible with Multiple Currencies
Hot wallets also allow you to hold more currencies at the same time. These wallets are compatible with numerous cryptocurrencies in the market so that you can invest in multiple currencies. 
5.   Free Sign up
Some of the best crypto hot wallets also let you sign up for free. You won’t need any fee for setting up your wallet and can start trading instantly.
6.   Backup
Backup is another essential feature of a reliable hot wallet. Backups on hot wallets work the same way as other socialising apps. The backup option ensures that you don't lose any wallet data in case of any mishap.

## What are Cold/Hardware Wallets?

This type of wallet provides a higher level of security to your digital assets. They are entirely offline and do not require internet access all the time. This means your digital assets won't be vulnerable to cyber attackers.

Hardware wallets usually come in the shape of USBs, allowing you to access their contents by connecting them to your device whenever needed. You can remove it when it is not in use, making it inaccessible to cyber attackers.
Though these wallets are much more secure than hot wallets, they do not give you the ease of use. Moreover, they don’t offer instant liquidity, and their trading speed is relatively low. That's why these wallets aren't generally used for trading activity. However, they are the most secure option for holding significant crypto funds for long-term usage.  

How do they work?

Like hot wallets, hardware or cold wallets can also hold your private keys. But the difference here is that they are USBs that can save your cryptographic keys distant from the internet. This hardware has a PIN only through which you can access your account.

These hardware wallets also enable you to sign every transaction you make. You can add your unique signature to verify each transaction from your wallet. Besides the PIN code, there are in-device signatures for transactions. So, even if someone gets the possession of your private key, they would still fail to make any transactions because of its in-device signatures.

Features of Best Crypto Hardware Wallets

1.   High-Level Security
Cold or hardware wallets have the ideal security for keeping your large sums of crypto coins. It remotely saves your private keys from the internet, denying access to hackers. In addition, the USB has a PIN and a unique in-device signature without which no transaction is possible through your wallet.
2.   Operated Offline
These wallets are operated entirely in offline mode. You won't need to keep them connected to the internet all the time, which enhances their security. While connected to the internet, they are still safe from cyberattacks because of the in-device signature protection for transactions.
3.   Less Liquidity
Another feature of cold wallets is that they offer less liquidity than hot wallets. The reason is that they are designed for holding crypto coins for the long term and making transactions on a large scale.
4.   Direct Trading
Best crypto hardware wallets would also offer you the option of wallet-to-wallet trades. When trading through an exchange, you will have to pay fees and wait for them to process your transactions.
Direct trading breaks you free from relying on the exchange for proceeding with your trades. You no longer have to pay the transaction or withdrawal fee on each transaction.   
5.   Support Multiple Crypto Coins
A hardware crypto wallet can also support more than one cryptocurrency simultaneously. You can hold Bitcoin, Ethereum, and other altcoins altogether. But different hardware supports specific cryptocurrencies.

## Hot Wallet vs Cold Wallet

Hot and cold wallets have their own unique features, offering different benefits. The debate of hot wallets vs cold wallets always boils down to your choice of security over convenience or vice versa. Ideally, choices should be based on needs.

If you have to be involved in frequent trades, you might look for a hot wallet's convenience and better transaction speeds. However, for your long-term crypto savings, you would want the enhanced security of a cold wallet. Since we have to deal with both scenarios in the crypto world, choosing one over another is not the wisest choice.

Therefore, it is wise to blend both and follow the "don't keep all of your eggs in one basket" strategy. You may use a hot wallet for your day-to-day transactions and a cold wallet to secure your cryptocurrencies. Make sure to use your hot wallet primarily for transactions and do not store large chunks of your crypto coins in it.

## Best Hot Wallets for Crypto

Here are some of the leading crypto wallets with hot storage on the market!

## Coinbase Wallet

Coinbase wallet is a project of the Coinbase Exchange. They offer hot storage to users for trading their digital assets and holding them. This wallet is highly convenient, has an intuitive interface and can easily be handled by a beginner. Not only does it allow the trade and storage of your coins, but it also works for NFTs.

In addition, you can store more than500 different cryptocurrencies in your wallet. As it is integrated with the Coinbase exchange, you will also enjoy smoother transactions using this wallet.

## MetaMask Wallet

MetaMask is another great software-based hot wallet. It is an open-source wallet, so you won’t have to pay any signup fee for setting up your wallet. MetaMask works best with the Ethereum blockchain and can deal with ERC-20 and Ethereum tokens.
It is also a beginner-friendly wallet as managing coins is relatively easy with this wallet. Besides, if you are using a Ledger hardware wallet, you can easily integrate MetaMask with them.

## Trust Wallet

Trust wallet has associations with Binance, making it one of the most credible hot wallets. It also has a free to sign up option, so it doesn't cost you an account setup fee. The wallet supports numerous blockchains and all sorts of digital assets.
Trust Wallet's user-friendly app ensures you do not face hurdles in the transactions. You can also earn daily interests and track coin prices.

## Best Crypto Hardware Wallets/Cold Wallets

### Trezor Model One Hardware Wallet

Trezor is a trusted name among hardware wallets, and the Trezor Model One USB can be a good choice for cold storage. It allows for more than 1,000 digital assets and ensures their complete security through a PIN and multiple signatures.

### [Ledger Nano S](https://shop.ledger.com/?r=7d474bfdcfa2&tracker=msa)

Ledger Nano S is another offline cold storage for your crypto investments. It features an OLED screen for clear display and two buttons for confirming or rejecting the transactions. This highly secure hardware supports more than 1100 crypto coins, including other digital assets.

### SafePal S1

SafePal S1 is an affordable yet secure device that has ties with Binance. This device can store all the major coins, including Binance coins, Ethereum, [Bitcoin](/coins/btc), and ERC-20 coins. You can operate and manage your wallet through the SafePal app, making the transaction processes quite simple.

Final Thoughts

You have numerous choices for digital wallets. 'Warmness' should inform the decision of which crypto wallet is best for you. This refers to the ratio of convenience to security. The easy-to-use wallets are hot, while the secure ones are cold or hardware wallets.
Choosing any one of them is not the ideal choice. Hot wallets are best for day-to-day transactions and cold ones are suitable for keeping your long-term investments safe. So, you should go for a blend of both to enjoy security as well as convenient transactions.


The Best Wallet for Crypto - Hot or Cold?

The U.S. payment operator PayPal has some [news to share](https://newsroom.paypal-corp.com/2022-06-07-PayPal-Users-Can-Now-Transfer-Send-and-Receive-Bitcoin-Ethereum-Bitcoin-Cash-and-Litecoin) – the company finally decided to respond to its users’ demand by allowing them to transfer cryptocurrencies, including to external wallets. 

Two years after the fintech behemoth expanded its activities to accepting digital currencies, the customers are now having the choice to self-custody of their digital assets.  

The new add-on is now available only to select U.S. clients but will be expanded out to all eligible U.S. customers in the next few months.
Back in October 2020, the company decided to allow cryptocurrency trading for Bitcoin, Ethereum, Litecoin and Bitcoin Cash. However, users couldn’t move their assets off the platform without transferring it to fiat first. 

Jose Fernandez da Ponte, Senior Vice President and General Manager said that the new attribute was the one users have been asking for the most.

Now, when a client has crypto stashed somewhere else and needs to secure it, they’ll be able to convey it to PayPal from an exterior address. “They (users) will additionally ship crypto to anybody who’s within the PayPal system,” said Fernandez da Ponte.
He also confirmed the company has been assigned a BitLicense, a New York term for all crypto-related businesses. 

Fernandez da Ponte added that the main reason the company entered the crypto space was because of its belief that a sizeable part of trade is going to move to cryptocurrencies. Trade in terms of buying or selling tangible and intangible products or services with cryptocurrency. 
The focus on trade, rather than making itself an exchange, allows PayPal to function without fees related with cryptocurrency transactions by letting its users’ using tools like ‘Checkout With Crypto’. 

## Paypal news bringing the stock up

It's still not known how much digital assets are adding to PayPal's bottom line, especially since the company didn’t reveal the exact numbers of how many people are using its Bitcoin or Ethereum service. 

It is to believe though, if compared with much bigger crypto businesses such as the Coinbase or Robinhood, that the volume of cryptocurrency transactions plunged substantially along with the recent market downturn. Paypal also recorded a fall in its quarterly results. The company’s first-quarter revenue for 2022 stood at $6.48 billion. Even though this represents a year-over-year increase of 8%, Paypal lost 32% in operating income, dropping to $711 million. 

The company reported a net income of $509 million with $0.43 earnings per share, which is down 53%. Earnings per share decreased by 28% on an adjusted basis to $0.88. That is why it’s even more likable that the company hasn’t been backing off its ambitious crypto plans.
Fernandez da Ponte said he's being calm.

"There’s a lot of discussion about crypto winter, but it’s important to see beyond that," he commented. "The macro trend (of broad cryptocurrency adoption) is undisturbed."

After the news went global, shares of the company were up by 2.05% at $88.59.

There seems to be allot of positive momentum with Fintech payment services adopting crypto with [Mastercard going on a crypto hiring spree](https://www.monitalks.io/news/article/mastercard-uk-hiring) to ramp up its efforts in the space. This can only bode well for the industry which is becoming increasingly integrated with the traditional financial ecosystem.



Latest Moni

Crypto Wallet News

Read the latest Crypto Wallet news.

Cyberattack on Solana wallets drained $8 million

MetaMask security at risk!

Top crypto wallets that hold multiple currencies

Crypto malware PennyWise spreads through YouTube

The Best Wallet for Crypto - Hot or Cold?

PayPal allows crypto transfers to external wallets

Blackrock investing strengthens crypto’s position

Ankr receives significant investment from Binance

How to exchange Monero (XMR) to GBP in the UK