Crypto Thieves Hijack Ngrave Alerts and Walk Away With $2.56M

A fake security warning flashed across crypto wallets, sending users scrambling to protect their funds. Instead, the alert delivered them straight to thieves who drained roughly $2.56 million, exploiting a trusted notification system without ever cracking the hardware itself. Belgian hardware-wallet maker Ngrave, commonly known as NGRAVE, disclosed on Oct. 19 that attackers hijacked a third-party notification provider serving its LIQUID companion app. The breach allowed criminals to send authentic-looking security warnings directly to customers on Oct. 17. The message claimed a user’s portfolio had been synchronized with a Pixel 9 device in Moscow. Clicking the alert opened a counterfeit Ngrave website featuring a countdown timer and an ominous choice to approve or deny the suspicious activity. Both paths led to the same trap.

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