Solana Phishing Incident Analysis: Authorization Transfer or Direct Theft?

Understanding the Solana Phishing Scam

A recent security alert on the Solana blockchain highlighted a phishing website (https://officialsolanarares.net/mint/) that could transfer users' native tokens (SOL) after obtaining approval. This raised questions about whether this was an "authorization transfer" or direct theft of assets.

Key Misconceptions Clarified

1. Ethereum vs. Solana Authorization

   • In Ethereum, ERC-20 token approvals allow third-party contracts to manage tokens (not native ETH).
   • In Solana, SPL tokens (similar to ERC-20) also require approvals for token transfers, but native SOL operates differently.

2. The "Approve" Button Confusion

   • Phantom wallets label transaction confirmations as "Approve," misleading users into thinking they’re granting token permissions.
   • Reality: Users are approving a transaction, not authorizing token access.

3. Direct SOL Transfers

   • Malicious contracts can move SOL by invoking system functions (e.g., system_instruction::transfer), leveraging Solana’s signature propagation mechanism.
   • Unlike Ethereum, Solana wallets cannot preview SOL amounts being transferred mid-transaction.

How the Attack Worked

• Signature Propagation: When a user signs a malicious contract, the signature spreads to internal calls (e.g., system contracts), enabling SOL transfers.

• Example Attack TX: View Exploit

  • User: 4XF4wyjein7ZN4RPM6YK2mC2mC6T41cZAoKjJqpP19fR
  • Stolen: 1.2545 SOL
  • No SPL token involvement—just a direct SOL transfer.

👉 Protect Your Assets: Best Security Practices

FAQs

Q1: Can Ethereum’s native ETH be stolen via approvals?
A: No. ETH cannot be transferred via ERC-20 approvals—only tokens.

Q2: Why can’t Phantom wallets warn about SOL transfers?
A: Solana’s design hides transfer details until execution, unlike Ethereum’s upfront visibility.

Q3: How to avoid such scams?
A: Never approve transactions from untrusted sources. Use hardware wallets for critical operations.

Q4: Is Solana’s design flawed?
A: Not inherently—but users must adapt to its different security model versus Ethereum.

Conclusion

Solana’s phishing incident stems from transaction approval abuse, not token authorization. Always verify contracts before signing.

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