Crypto User Loses $282M in Bitcoin, Litecoin in Wallet Scam

The exact social engineering methodology used in the $282 million theft remains unclear. Common hardware wallet scams include phishing websites that capture seed phrases, fake customer support impersonating legitimate wallet companies, or malicious firmware update prompts.

ZachXBTs investigation tracked the stolen funds across multiple blockchains and exchanges. The Thorchain bridging activity distributed stolen Bitcoin across Ethereum, Ripple, and Litecoin networks.

Hundreds of wallets drained in attack wave

The $282 million theft is the largest single victim in a broader attack campaign targeting cryptocurrency wallets across EVM-compatible chains. ZachXBT reported hundreds of wallets being drained in early January through ongoing attacks.

The wider campaign targeted numerous wallets for smaller amounts, with individual losses typically under $2,000 per victim. While each theft remains modest, cumulative losses increased as the attack continued.

December 2025 saw approximately 26 major crypto exploits resulting in $76 million in total losses, according to blockchain security firm PeckShield. The figure is a 60% decline from Novembers $194.27 million in exploit losses.

Januarys early data indicates exploit activity may be rebounding with the $282 million hardware wallet theft and ongoing wallet draining campaign.

Hardware wallet manufacturers have not issued warnings about specific social engineering campaigns.

Users should verify all communication claiming to be from wallet companies through official channels and never enter seed phrases into websites.