Hundreds of Wallets Drained Across EVM Chains as ZachXBT Flags Mysterious Exploit With Cause Still Unknown

A fresh wave of concern is spreading across the crypto community after prominent on-chain investigator ZachXBT reported a coordinated wallet-draining incident affecting hundreds of users across multiple EVM-compatible blockchains.

According to ZachXBT’s findings, attackers have been systematically draining under $2,000 per wallet, a tactic that has allowed the exploit to fly under the radar while quietly accumulating losses. As of the latest update, more than $107,000 has already been stolen, with the root cause still unidentified.

The information was later confirmed by the X account of Cointelegraph, and subsequently reviewed and cited by the editorial team at Nyohoka Crypto.

Source: Xpost

A Low-Value Drain, High-Impact Strategy

Unlike high-profile exploits that target large liquidity pools or single whale wallets, this incident appears to rely on volume rather than scale. Each affected wallet reportedly lost a relatively small amount, typically below $2,000. However, when multiplied across hundreds of victims, the total damage quickly exceeded six figures.

Security analysts say this approach is becoming increasingly common. By keeping individual losses small, attackers reduce the likelihood that victims will immediately notice or report the theft, allowing the exploit to continue longer than more obvious attacks.

Nyohoka Crypto notes that this pattern aligns with a growing class of stealth exploits that prioritize persistence over speed.

Multiple EVM Chains Affected

While a full list of impacted networks has not yet been disclosed, ZachXBT confirmed that the wallets were drained across EVM-compatible chains, a category that includes major ecosystems such as Ethereum and several popular layer-2 and sidechain networks.

Source: Xpost

The cross-chain nature of the incident suggests the exploit may be linked to a shared vulnerability, such as compromised wallet permissions, malicious transaction signatures, or interactions with a tainted smart contract that operates similarly across EVM environments.

At this stage, no single protocol, dApp, or wallet provider has been publicly identified as the source of the breach.

Cause Still Unknown, Investigation Ongoing

One of the most troubling aspects of the incident is the lack of clarity around how the wallets were compromised. ZachXBT emphasized that, so far, no definitive exploit vector has been confirmed.

Possible scenarios being discussed within the security community include:

• Malicious approval transactions signed unknowingly by users

• Phishing campaigns distributing compromised links or interfaces

• Previously granted token approvals being abused

• Exploitation of third-party wallet tools or browser extensions

Nyohoka Crypto understands that investigators are actively tracing transaction flows and contract interactions in an effort to identify a common thread among affected wallets.

Why This Incident Matters

Although the total amount stolen remains relatively modest compared to major DeFi hacks, analysts warn that the implications could be significant. If the exploit method is not identified and neutralized, the same technique could be scaled or adapted to drain larger balances.

Moreover, incidents like this continue to highlight the fragility of user-side security in crypto. Even as blockchain protocols themselves grow more robust, individual wallets remain vulnerable to social engineering, approval misuse, and subtle attack vectors.

Community Urged to Stay Vigilant

In his alert, ZachXBT urged users to remain cautious, a message echoed by Nyohoka Crypto. Security experts recommend that users take immediate steps to protect themselves, including:

• Reviewing and revoking unnecessary token approvals

• Avoiding unfamiliar links and dApps

• Using hardware wallets for larger holdings

• Monitoring wallet activity regularly

While no single defensive measure guarantees safety, layered security significantly reduces exposure to wallet-draining attacks.

A Broader Trend of Wallet Exploits

This incident is part of a broader trend that has emerged over the past year, where attackers increasingly target end users rather than protocols. Wallet drains, signature-based exploits, and phishing campaigns now account for a growing share of crypto-related losses.

According to analysts cited by Nyohoka Crypto, these attacks are often harder to detect and prevent because they exploit user behavior rather than code vulnerabilities.

What Comes Next

As the investigation continues, the crypto community is watching closely for updates from ZachXBT and other independent researchers. Identifying the exploit’s origin will be critical not only for recovering funds, if possible, but also for preventing further losses.

For now, the incident serves as another reminder that decentralization places greater responsibility on users to manage their own security. Transparency on-chain allows exploits to be tracked, but it does not prevent them from happening.

Nyohoka Crypto will continue monitoring developments around this case and provide updates as new information becomes available.

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