ZachXBT Flags Ongoing Wallet Exploit With Losses Exceeding $107,000
An active exploit is draining hundreds of crypto wallets, with losses amounting to around $107,000 and continuing to rise as investigators work to identify the source.
The breach, identified by blockchain investigator ZachXBT, highlights the ongoing risks faced by digital asset holders in the crypto industry.
Ongoing Exploit Siphons Small Amounts From Hundreds of Crypto WalletsThe exploit targets crypto wallets on various Ethereum Virtual Machine (EVM) compatible blockchains, draining small amounts from each victim. According to ZachXBT’s investigation, affected wallets have lost under $2,000.
The investigator also identified a suspicious address, 0xAc2e5153170278e24667a580baEa056ad8Bf9bFB.
“It appears hundreds of wallets are currently being drained on various EVM chains for small amounts (<$2k total per victim) with a root cause not yet unidentified. So far ~$107K has been drained from them with the theft total still increasing,” ZachXBT posted on Telegram.
The tactic shows signs of coordination rather than random attacks. By spreading out individual losses, the perpetrators reduce the chance of triggering automated alerts while maximizing profits.
Meanwhile, ZachXBT added that the precise cause is not yet known. However, users on X (formerly Twitter) reported receiving a phishing email impersonating MetaMask. The email falsely claimed a mandatory upgrade was required.
“According to @Mecha_Kong, there was a spoof mm email sent out today about upgrading… could be the reason behind drains…,” Vladimir, a threat researcher, posted.
Others have speculated that the activity could be connected to Trust Wallet’s recent browser extension incident.
Deep Analysis by @nansen_ai
related to @TrustWallet Chrome Extension Breach https://t.co/939S7PraHE pic.twitter.com/oiJXEmtBa2