NGRAVE Users Targeted in $2.65 Million Phishing Attack Amid Hardware Wallet Concerns

The crypto wallet security landscape has been further compromised as NGRAVE users have reported a phishing attack that has resulted in losses totaling $2.65 million. This incident underscores the vulnerabilities that continue to plague digital asset holders.

In a related development, concerns have also arisen regarding the integrity of hardware wallets. A recent attack involving tampered devices sold through a reseller has led to significant financial losses, estimated at around $90 million. Investigators have linked these losses to physical modifications made to the wallets, which allowed attackers to capture sensitive recovery phrases during the device setup process.

Ledger, the company behind the affected wallets, has stated that its systems were not compromised but has urged customers to secure their funds using new recovery phrases generated on trusted devices. The situation raises critical questions about the supply chain integrity of hardware wallets, emphasizing the need for buyers to consider both the provenance and physical condition of their security devices.