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Crypto hacking incidents have become increasingly prevalent across major blockchain networks. In April, crypto exploits surged to $635 million, the highest level since February 2025, according to DefiLlama. In one of the latest incidents, attackers exploited addresses on the Ethereum mainnet.
On 30 April, hundreds of wallets that had been inactive for more than seven years were drained by the same address.
Attackers reportedly accessed the private keys directly, draining about $800,000 from these dormant wallets. Most of the stolen funds were swapped via THORChain to Bitcoin, while the remainder were moved across other chains.
On-chain investigator Specter observed that the attacker bridged 324.741 ETH, valued at about $734,000, to the Bitcoin Network. Around $66,000 in assets remained in the EVM wallets.
According to MastrXYZ, a wallet labeled by Etherscan as Fake_Phishing2831105 received funds from multiple addresses. The wallet then moved the assets through swaps and cross-chain infrastructure.
MastrXYZ pointed to old leaks from weak software or prior breaches, including the 2022 LastPass incident. Unlike recent DeFi exploits, the report states that no new approvals, contracts, or signatures were involved.
While the broader crypto market faces rising attack activity, older wallets are described as higher risk. Many dormant wallets lack modern security features and standards, leaving them exposed to attackers’ evolving capabilities.
The content also notes that some users created wallets using random weak generators, which produced low-entropy keys. With blockchain tools and attacker techniques advancing, dormant wallets can remain vulnerable—particularly when inactivity weakens defenses over time.
In a separate context, the KelpDAO exploit reportedly triggered losses across LayerZero and Aave, with DeFi total value falling to $83 billion, as AMBCrypto reported. However, despite the Ethereum wallet incident, the market remained calm because the Ethereum chain itself was not attacked.
The network consensus mechanism was described as secure, with infrastructure left untouched. As a result, Ethereum prices moved only slightly. ETH rose to $2,285, while the altcoin market continued hovering between $2,200 and $2,300.
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