Hundreds of wallets operating on various EVM chains have been hit by a sophisticated fraud scheme that remains mysterious in origin, according to recent findings from security researcher ZachXBT. The incident, first reported on January 2nd, has resulted in cumulative losses exceeding $107,000, with the total damage still climbing.

The attacks follow a consistent pattern: individual victims on EVM chains—including Ethereum, Polygon, Arbitrum and other networks—have each lost relatively small amounts, typically under $2,000 per wallet. However, the sheer volume of compromised wallets, numbering in the hundreds, amplifies the overall financial impact. ZachXBT's monitoring has been tracking these incidents across multiple chains simultaneously, revealing a coordinated nature to the theft.

What makes this security breach particularly concerning is the lack of clarity around the attack vector. Despite ZachXBT's investigation and ongoing analysis, the root cause of the vulnerability or the methodology behind the fraud remains unclear. This unknown factor has raised alarms within the community, as users cannot yet determine how their wallets were compromised or what specific weakness was exploited.

Security experts emphasize that such cross-chain fraud waves often signal either sophisticated targeting or systemic vulnerabilities affecting multiple EVM networks. ZachXBT continues to monitor the situation closely, with losses still accruing as the investigation unfolds. Community members are advised to remain vigilant and implement enhanced security measures across their wallets and connections.