A new on-chain alert has emerged, revealing a covert and widespread cryptocurrency theft campaign affecting hundreds of users across EVM-compatible blockchains. With over $107,000 already confirmed lost, investigators highlight a unique strategy involving smaller, discrete thefts.
Coordinated Theft Scheme Uncovered
- Over $107,000 in total losses have been identified through on-chain analysis.
- No specific wallet provider or exploitation vector has yet been confirmed by investigators.
- The attackers are siphoning small amounts of less than $2,000 per wallet, delaying detection and distributing risk widely.
The warning, shared by blockchain investigator ZachXBT, points to a coordinated wallet draining operation that has already incurred substantial losses.
This incident is marked not by the magnitude of individual thefts but by the method employed. The attackers appear to siphon relatively small sums from many wallets instead of targeting larger balances.
Most losses remain below $2,000 per address, allowing the activity to spread quietly and evade immediate notice from victims or monitoring systems.
Emerging Patterns of Malicious Activity
The affected wallets span multiple EVM-compatible networks, indicating that the issue is not confined to a single blockchain or ecosystem.
Transaction data reviewed by investigators reveals a consistent timeline and similar transfer amounts, indicating a coordinated effort rather than isolated incidents.
As of now, no specific wallet provider, decentralized application, or smart contract vulnerability has been identified as the entry point. There have also been no official confirmations linking these thefts to compromised software updates or phishing campaigns.
What has been established is that the stolen funds are directed to related addresses, suggesting that a single actor or a closely-knit group is behind the attacks.
This lack of a clear exploitation vector complicates efforts to contain the issue.
With no knowledge of how access is gained, users and developers have limited immediate options beyond heightened vigilance.
The Hidden Risks of Smaller Thefts
While the financial impact on individual users may seem limited, the method raises broader concerns.
By spreading the thefts across numerous wallets, the attackers can delay detection and diminish the chances of quick, coordinated responses.
Victims might notice missing funds days or even weeks later, if at all.
This approach underscores the persistent risks faced by self-custody users engaging with multiple chains, protocols, and permissions.
Each interaction increases the risk exposure surface, particularly within the interconnected EVM ecosystem.
The timing of the incident has added to unease within the crypto community.
This follows a series of security breaches in late 2025, which renewed scrutiny around wallet approvals, private key management, and cross-chain activities.
Exploits Remain a Constant Threat
This episode fits into a broader pattern of ongoing security issues within the digital asset sector.
Data from blockchain security firm PeckShield reveals that approximately 26 major crypto exploits were reported in December, leading to losses of around $76 million.
While this total is significantly lower than the $194 million reported in November, it confirms that exploit activity remains persistent.
One of the most notable incidents during this period involved Trust Wallet, which revealed a security issue related to a specific version of its browser extension.
The breach, which occurred over the Christmas period, resulted in approximately $7 million in losses.
Since then, the company has begun compensating affected users and has introduced updates to strengthen verification and reimbursement processes.
ZachXBT has indicated that the case involving the wallet drain is still ongoing, with movements of the stolen funds continuing to be tracked.
No confirmed explanation exists regarding how the wallets were compromised, and no products or services have been publicly blamed.
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