$282 million stolen in a crypto wallet attack: incident details

LiquidatedTwice · 2026-02-01T06:06:05+00:00

A hacker stole over $282 million in cryptocurrency through a social engineering attack on a victim's wallet, marking a major incident in January 2026. Blockchain researcher ZachXBT analyzed the attack's details, revealing the mechanics of the theft and the manipulation of funds. The incident underscores vulnerabilities in user security and highlights social engineering as a dominant attack method. ![A diagram illustrating the flow of the social engineering attack](https://example.com/attack-diagram.png) The attacker targeted the victim by posing as a trusted entity, exploiting trust to gain access to private keys. They sent convincing phishing emails that appeared legitimate, tricking the victim into revealing sensitive information. Once the attacker obtained access, they transferred the funds to their own wallets, effectively stealing the assets. This event has raised awareness about the importance of security measures such as multi-factor authentication and cautious handling of sensitive information. Experts recommend users regularly update their security protocols and remain vigilant against social engineering tactics. The incident also prompts exchanges and wallet providers to enhance their security features to prevent similar attacks in the future. It serves as a stark reminder that no system is entirely foolproof and that user education is crucial in safeguarding digital assets.

LiquidatedTwice

2026-02-01 06:06:05

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A hacker stole cryptocurrency worth over $282 million by launching a social engineering attack on the victim’s crypto wallet. This became one of the largest incidents in January 2026 and highlighted users’ critical vulnerability to manipulative attacks. Blockchain researcher ZachXBT published a detailed analysis of the incident, revealing the theft mechanism and the flow of funds.

Scope of the theft: millions of assets drained from the crypto wallet

According to ZachXBT’s investigation, the attacker withdrew 2.05 million Litecoin (LTC) and 1,459 Bitcoin (BTC), totaling approximately $282 million. The attack occurred on January 10 at 23:00 UTC. The most notable feature of the theft was its speed: the attacker quickly converted most of the stolen funds into Monero (XMR), a coin that provides maximum transaction anonymity.

This exchange had a significant market impact. Within four days after the attack, the price of XMR increased by 70%, indicating a massive influx of capital. Part of the Bitcoin was routed through other blockchains—Ethereum, Ripple, and Litecoin—using the cross-chain service Thorchain to obfuscate the trail.

Social engineering as the main threat in 2025

The victim fell prey to a classic social engineering attack—the attacker impersonated a company representative and, through manipulation, gained access to critical information. The typical scenario involves gaining trust through gradual communication, after which the attacker persuades the victim to reveal the private key of the crypto wallet or login credentials. This became the dominant hacking method in 2025.

It remains unknown whether the victim was an individual or an organization, but the scale of the theft indicates a higher level of coordination. ZachXBT dismissed the version involving North Korean hackers—investigation did not reveal typical signs of their activity.

Context: Ledger data leak and the rise of cyber threats

The incident occurred at a critical moment—just five days earlier, on January 5, the Ledger hardware wallet suffered a significant data leak. Unauthorized access compromised users’ personal data, including names and contact information. This doubled the risk for crypto wallet owners: on one hand, their personal data was exposed; on the other, a small window of time appeared during which hackers could already begin their operations.

The combination of these two events demonstrates that crypto wallets are no longer protected solely by hardware architecture. The weakest link is the human factor, which attackers exploit with increasing sophistication and scale.

LTC-0,72%

BTC-1,46%

ETH-5,51%

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