Unidentified exploit targets users with small but widespread losses
A new security incident has raised concerns across the Ethereum-compatible ecosystem, as hundreds of crypto wallets have been drained across multiple EVM chains. The attack is ongoing, and investigators have yet to determine how attackers are gaining access, increasing fears of further losses.
Wallet draining attack spreads across EVM networks
Blockchain investigator ZachXBT reported that a large number of wallets are being targeted for relatively small amounts, usually less than $2,000 per victim. While each individual loss appears limited, the scale of the operation has driven total damages to approximately $107,000 so far, with that figure expected to rise.
According to a Thursday post from Blockchain security firm PeckShield.
The attacker’s strategy appears focused on volume rather than single high-value targets, suggesting a potential automated or mass-exploitation method. The exact entry point remains unknown, leaving users uncertain about how to protect themselves beyond standard security practices.
Trust Wallet CEO Eowyn Chen said:
Although no individual or group has been publicly identified, a suspicious Ethereum address has been flagged as potentially linked to the activity. Investigators continue to monitor onchain movements for clues that could reveal the exploit’s origin.
This incident follows a broader pattern of crypto-related exploits. December recorded roughly 26 major security incidents, totaling around $76 million in losses down sharply from November’s figures but still significant. Recent events underscore that security vulnerabilities remain a persistent risk, particularly across interconnected EVM ecosystems.
As investigations continue, users are urged to remain vigilant while the root cause of the attack remains unresolved.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.