Paul Johnson Hundreds of EVM wallets were drained in a mysterious crypto exploit, possibly linked to the recent Trust Wallet breach. Investigators warn users to revoke approvals and stay vigilant.
EVM wallets face mysterious widespread exploit
A mysterious attack has shaken the Web3 ecosystem after hundreds of EVM wallets across multiple networks were drained of funds in what analysts are calling one of the most widespread exploits of early 2026. The coordinated theft, impacting users across several Ethereum Virtual Machine chains, has once again raised concerns about vulnerabilities in wallet security and phishing attacks.
Blockchain investigator ZachXBT was among the first to identify the pattern, revealing that the exploit siphoned small amounts from hundreds of affected addresses. Most victims lost under two thousand dollars each, but the scale of the operation points to an automated and highly sophisticated campaign that leveraged mass wallet targeting rather than large single-wallet drains.
Cybersecurity experts suggest that the EVM wallets incident may be connected to the Trust Wallet breach reported in late December, in which attackers stole seven million dollars. Early findings indicate that this latest wave of wallet thefts shares similar patterns, hinting at a possible continuation or replication of the earlier exploit.
Potential phishing link tied to the EVM wallet hack
Security researcher Vladimir S. suggested that the attack may have originated from a phishing campaign that masqueraded as an official MetaMask email. Victims who unknowingly interacted with the fraudulent message may have exposed their private wallet data or signed malicious smart contracts.
“This looks like automated, wide-net exploitation,” cybersecurity firm Hackless stated, advising users to immediately revoke any unnecessary smart contract approvals and monitor wallet activity. Analysts believe the attacker used phishing links to deploy scripts that drained small amounts from a vast number of EVM wallets, a technique that allows for stealth and scalability without triggering large onchain alerts.
The timing of the event has also fueled speculation about a direct connection to the Trust Wallet hack that struck over two thousand users during Christmas. Multiple researchers, including pseudonymous blockchain analysts, noted on X that the wallet drain signatures bore striking similarities to the code patterns used in the December breach.
The Trust Wallet breach that set the stage
The Trust Wallet exploit, which resulted in around seven million dollars in losses, was traced back to a sophisticated supply chain attack that compromised developer packages used by Web3 teams. Known as the “Sha1 Hulud” incident, it targeted npm software packages often integrated into crypto wallet frameworks and decentralized applications.
According to Trust Wallet’s incident report, the attacker managed to leak developer credentials from the project’s GitHub repository, allowing them to inject malicious code into the browser extension. The compromised extension was uploaded to the Chrome Web Store disguised as the legitimate Trust Wallet add-on, tricking users into installing a corrupted version.
While the mobile app remained secure, the browser extension became a significant vulnerability. Industry experts such as Anndy Lian and former Binance CEO Changpeng Zhao both hinted that the precision of the breach suggested insider involvement, given the intimate familiarity with Trust Wallet’s architecture required to execute the exploit.
Binance, which owns Trust Wallet, has since confirmed that it reimbursed affected users for their losses and has initiated a complete audit of its wallet infrastructure.
Community warns of rising EVM wallet vulnerabilities
The repeated exploitation of EVM wallets underscores a broader systemic challenge in decentralized finance security. As onchain ecosystems expand across multiple EVM-compatible chains, the attack surface for phishing and smart contract abuse continues to widen.
Experts have cautioned that even small, seemingly harmless approvals granted to decentralized applications can later be weaponized if the app’s contracts are compromised. With the latest incident spreading across several EVM networks, users are urged to verify every wallet interaction, avoid clicking on links from unsolicited emails, and use independent tools like Revoke.cash to review permissions.
Hackless and other blockchain security providers have begun publishing updated safety checklists for users, including steps to monitor transaction history, remove outdated dApp connections, and validate wallet extensions before updates.
The road ahead for DeFi wallet safety
The latest string of EVM wallet drains is a sobering reminder that even the most reputable Web3 tools are not immune to evolving attack vectors. As exploits grow more automated and phishing campaigns more convincing, user education and proactive security remain critical defenses.
Security researchers are now calling for wallet developers to adopt multi-layer verification systems and real-time threat detection to prevent unauthorized approvals. Meanwhile, exchanges and infrastructure providers are investing heavily in auditing code dependencies to minimize the risk of future supply chain infiltrations.
While individual losses per wallet remain relatively low, the coordinated nature of the EVM wallets exploit highlights how attackers are adapting to decentralized ecosystems. For users, vigilance is not optional it is survival.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
