>A single Ethereum address drained over 261 ETH (roughly $590,000) from hundreds of wallets on Wednesday. Most of those wallets had sat dormant for seven or more years.
…
On-chain data reveals a clear pattern. Small and large ETH amounts flowed into the drainer from wallets inactive since 2018 or earlier. The attacker then routed funds through bridges and swaps. THORChain, Across, Squid, Uniswap V2/V3, and Magpie Router all appeared in the flow. Notably, no mixer activity showed up, suggesting speed over obfuscation.
…
This is not a smart-contract exploit or an approval-based drainer. The attacker moved ETH directly from victim wallets, which means they likely held the private keys.
Community members on X have offered several theories. The most common points to weak entropy in early wallet tools. Pre-2019 brainwallet generators, browser-based wallets, and vanity-address tools often used predictable randomness. Modern cracking tools can now exploit those weaknesses.
BornInForestHills on
Not ready for prime time.
Like why not keep your cash in your mattress?
Because we have BANKS TO SAFEGUARD MONEY.
How can anyone take crypto seriously when hacks like this happen ALL THE TIME?
GodelianKnot on
How do we know it’s an „attacker“? Maybe it’s just the owner of those addresses…
Choice_Potato_6279 on
The custom wallet with a legible word looks cool but its too dangerous to generate such adress.
Tho it’s also used in Bitcoin so it must be Ethereum specific I think?
AggravatingGuest1956 on
last one left turn out the lights
gdscrypto on
Great… /s
Ill_Mousse_4240 on
Quantum test runs?
drakgikss on
For me this is the main reason crypto is not mass adopted. So many, scams, hacks, flaws and ways to lose you savings.
Yeh, yeh you can do a triple, mortal carped tunnel to try to prevent this. But the looming dread of one day opening your wallet and is drained is too much for most people.
People crave the sense of security that this space still lacks.
Reasonable_Coconut_7 on
Love this
Reasonable_Coconut_7 on
Once that breaks the mass news that probably will seal the rest of whatever was alt season and possibly Epstein coin 🪙
Jarthos1234 on
I had $20 worth of ETH from 2014 on a jaxx wallet then noticed the value of eth and tried to download the app and they totally just shut it down and took all the crypto from that app in like 2021. Wonder who owns it now.
UFONomura808 on
I check my ledger everyday to see if my Eth value is the same, I don’t want to imagine how’d I feel if I open the app and see $0 on there.
Brb gotta go check again
Altcoin_Sidekick on
I’ve been using Aave and Uniswap for a while now, and stuff like this is why I always make sure to review my wallet settings regularly. I had a friend who got hit with a similar exploit on a smaller scale, they lost around 2 ETH, and it was a real pain to deal with. The thing that gets me is these dormant wallets are usually just sitting there, people forget about them or lose their keys, and then something like this happens. I’ve been trying to get my friends to use something like Stripe to cash out and just hold fiat, at least that way you don’t have to worry about this kind of thing. I know it’s not the most crypto-pure approach, but 261 ETH is a lot of money, and I’d rather not see people get burned like this. I’ve been in crypto since 2020, and it’s crazy to see how much the space has grown, but with that growth comes more eyes on your coins, and you gotta be careful.
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Nice
>A single Ethereum address drained over 261 ETH (roughly $590,000) from hundreds of wallets on Wednesday. Most of those wallets had sat dormant for seven or more years.
…
On-chain data reveals a clear pattern. Small and large ETH amounts flowed into the drainer from wallets inactive since 2018 or earlier. The attacker then routed funds through bridges and swaps. THORChain, Across, Squid, Uniswap V2/V3, and Magpie Router all appeared in the flow. Notably, no mixer activity showed up, suggesting speed over obfuscation.
…
This is not a smart-contract exploit or an approval-based drainer. The attacker moved ETH directly from victim wallets, which means they likely held the private keys.
Community members on X have offered several theories. The most common points to weak entropy in early wallet tools. Pre-2019 brainwallet generators, browser-based wallets, and vanity-address tools often used predictable randomness. Modern cracking tools can now exploit those weaknesses.
Not ready for prime time.
Like why not keep your cash in your mattress?
Because we have BANKS TO SAFEGUARD MONEY.
How can anyone take crypto seriously when hacks like this happen ALL THE TIME?
How do we know it’s an „attacker“? Maybe it’s just the owner of those addresses…
The custom wallet with a legible word looks cool but its too dangerous to generate such adress.
Tho it’s also used in Bitcoin so it must be Ethereum specific I think?
last one left turn out the lights
Great… /s
Quantum test runs?
For me this is the main reason crypto is not mass adopted. So many, scams, hacks, flaws and ways to lose you savings.
Yeh, yeh you can do a triple, mortal carped tunnel to try to prevent this. But the looming dread of one day opening your wallet and is drained is too much for most people.
People crave the sense of security that this space still lacks.
Love this
Once that breaks the mass news that probably will seal the rest of whatever was alt season and possibly Epstein coin 🪙
I had $20 worth of ETH from 2014 on a jaxx wallet then noticed the value of eth and tried to download the app and they totally just shut it down and took all the crypto from that app in like 2021. Wonder who owns it now.
I check my ledger everyday to see if my Eth value is the same, I don’t want to imagine how’d I feel if I open the app and see $0 on there.
Brb gotta go check again
I’ve been using Aave and Uniswap for a while now, and stuff like this is why I always make sure to review my wallet settings regularly. I had a friend who got hit with a similar exploit on a smaller scale, they lost around 2 ETH, and it was a real pain to deal with. The thing that gets me is these dormant wallets are usually just sitting there, people forget about them or lose their keys, and then something like this happens. I’ve been trying to get my friends to use something like Stripe to cash out and just hold fiat, at least that way you don’t have to worry about this kind of thing. I know it’s not the most crypto-pure approach, but 261 ETH is a lot of money, and I’d rather not see people get burned like this. I’ve been in crypto since 2020, and it’s crazy to see how much the space has grown, but with that growth comes more eyes on your coins, and you gotta be careful.