Was the NGRAVE ZERO Hardware Wallet Hacked for $2.56 Million? Professional Hackers, Fake Alerts, and Large Bitcoin Holdings
Search "NGRAVE ZERO hacked" and you'll see alarming headlines. Here's the pro-ZERO, honest version: professional hackers did steal crypto from NGRAVE users — but they did it by targeting people, not by cracking the hardware wallet. This is the pattern my blogs have warned about for years: most major crypto losses are caused by professional hackers, phishing attacks, and human error, not by the hardware wallet itself. Attackers go where the value is, and in this case Bitcoin made up the majority of the traced losses at about $1.77 million. The attack worked because it arrived through a trusted channel. Because the message came through the same service as genuine notifications, it looked authentic. The alert led to a copy of NGRAVE's website showing a countdown and a "Deny" button. Pressing Deny opened a page asking for the Perfect Key or 24-word recovery phrase, presented as a step to block the intruder. Anyone who entered either credential gave ...