ZachXBT: Hundreds of EVM Wallets Hacked, Approx $100K Stolen, Root Cause of Attack Still Unknown

On January 2, 2026, on-chain analyst ZachXBT reported a new wave of attacks targeting EVM-compatible wallets. The breaches impacted hundreds of addresses across multiple blockchains, with total losses estimated at around $107,000. Each compromised wallet typically lost less than $2,000. Despite the relatively modest individual losses, the cumulative impact is growing as more wallets are targeted.

The attack vector remains unconfirmed, and the perpetrator has not been identified. ZachXBT warned that the figure could rise as additional wallets are compromised. The breach highlights the ongoing vulnerability of EVM wallets to sophisticated attacks.

This incident is the latest in a series of high-profile crypto security breaches. In 2025 alone, over $2.2 billion in crypto assets were stolen across the largest incidents. These attacks ranged from compromised multisig wallets at centralized exchanges like Bybit to protocol-level exploits in DeFi protocols like Cetus and Balancer V2. The Bybit breach alone accounted for $1.4 billion in losses, marking the largest theft in crypto history.

Why Did This Happen?

The 2025 breaches were driven by a mix of infrastructure failures and protocol-level flaws. Compromised private keys, phishing attacks, and sophisticated oracle manipulation were among the most common vectors. These incidents revealed the fragility of even the most well-known platforms and protocols.

The current attack appears to differ from the 2025 incidents in scale and method. While the compromised EVM wallets likely involved a single vulnerability or entry point, the attack pattern is similar in its reliance on exploiting technical weaknesses to siphon assets. This suggests attackers are continuously adapting their strategies to exploit evolving infrastructure and user behavior.

How Did Markets React?

The attack has not yet triggered significant price movements in the broader crypto market. However, it has raised concerns among investors and developers about the security of EVM-based systems. The 2025 breaches already demonstrated how large-scale hacks could erode user trust and damage market confidence.

ZachXBT's report has sparked renewed interest in wallet security, especially among individual users. EVM wallets, while widely used, remain attractive targets for attackers due to their widespread adoption and sometimes limited security measures.

What Are Analysts Watching Next?

Security researchers are monitoring the attack for further developments. The unknown root cause means the breach could expand beyond the current victims. Analysts are also watching for any signs of a broader vulnerability that might affect other EVM-based platforms.

In the context of 2025's security landscape, this attack aligns with a trend of increasingly coordinated and sophisticated threats. The breach could prompt additional scrutiny of wallet infrastructure and further investments in security measures. Regulators and industry participants are likely to respond with more robust oversight and guidance for developers.

What Does This Mean for the Market?

The EVM wallet breach underscores the ongoing challenges in securing digital assets. While institutional adoption and ETF inflows have continued to grow in 2025 according to Cointelegraph, this incident serves as a reminder that technical vulnerabilities remain a major risk factor. Investors are advised to maintain strong custody practices and to monitor their assets closely.

Regulators have shown increasing interest in crypto security after 2025's major breaches. For instance, the SEC has introduced generic listing standards to streamline the approval of crypto ETFs. These efforts may help reduce systemic risk but do not eliminate the threat of individual attacks like the one now under scrutiny according to on-chain analysts.

As the crypto industry moves into 2026, the EVM wallet breach is a cautionary sign for both users and firms. The attack highlights the need for continuous vigilance and innovation in security protocols across all layers of the ecosystem.