On the evening of January 10th, an on-chain monitoring organization detected a major theft incident. The victim was scammed through social engineering targeting their hardware wallet, resulting in an instant loss of over $282 million worth of LTC and BTC. The attacker used professional techniques, quickly converting the stolen LTC and BTC into Monero via multiple instant exchange platforms, which directly caused a short-term surge in XMR price. Interestingly, some of the BTC were also bridged across chains via Thorchain to the Ethereum, Ripple, and Litecoin networks. This operation not only reflects the current activity level of the cross-chain ecosystem but also exposes the market volatility that can be triggered by large asset transfers. According to on-chain data, such high-value theft incidents remain a significant security risk in Web3.

LTC3,64%
BTC-0,47%
ETH-0,54%
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degenonymousvip
· 4h ago
282 million just gone like that, how long will it take this guy to recover... Hardware wallets can also be scammed, I'm really scared now. Monero instantly became a money laundering tool, do exchanges turn a blind eye too? Cross-chain technology is convenient, but it's also too easy to be exploited. That's why I still only dare to keep small amounts on the chain.
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YieldWhisperervip
· 4h ago
nah this is exactly why i don't trust hardware wallets with social engineering. the math on security theater never adds up tbh
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MEVHunter_9000vip
· 4h ago
How can social engineering scams be so effective? $280 million just gone like that, hardware wallets are no longer foolproof.
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