TL;DR: NGRAVE says attackers hijacked a notification provider used by LIQUID, directing users to a fake recovery-page and stealing at least $2.56 million.
A convincing security notification became the entry point for a costly crypto phishing campaign. Hardware wallet maker NGRAVE says a third-party provider used to send LIQUID app alerts was compromised, allowing attackers to push a fake warning to customers on October 17.
The notification directed recipients to a website resembling NGRAVE’s own pages. People who entered their recovery phrase or Perfect Key handed the attacker the information needed to take their funds. In its October 19 incident report, NGRAVE said it had traced approximately $2.56 million taken from about 70 wallet addresses across four networks.
The company broke that total down into roughly $1.77 million in Bitcoin, $454,000 in XRP, $316,000 in Ethereum assets and $18,000 in Stellar. NGRAVE described the figure as a minimum while it continues examining affected accounts.
Crucially, this was not evidence that the ZERO hardware device’s cryptography had been cracked. The attacker exploited trust in an apparently legitimate software alert and then persuaded victims to reveal secrets. NGRAVE says it disabled the notification channel and replaced keys. The immediate advice for wallet holders is unchanged: a legitimate security alert should never require typing a recovery phrase into a website.
Written by the News Desk and edited by Samuel Rae.
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