On-chain Investigator ZachXBT Flags Mystery Wallet Drains Across EVM Chains
On-chain researcher ZachXBT has alerted the crypto community to a coordinated series of wallet drains targeting users across multiple Ethereum Virtual Machine (EVM) chains. The attacker is sweeping small balances from hundreds of wallets — typically under $2,000 per victim — with total observed theft around $107,000 and rising. Stolen funds are concentrated on Ethereum (~51%), BNB Chain (~24%), Base (~8%), Arbitrum (~6%) and Polygon (~3%), with smaller amounts taken from Optimism, Ink, Zora, Linea and Manta Pacific. ZachXBT published a suspect destination address (0xAc2e5153170278e24667a580baEa056ad8Bf9bFB) and recommends users check explorers (Etherscan/BscScan), revoke suspicious approvals (e.g., via Revoke.cash) and move assets to fresh wallets. The pattern suggests an automated script exploiting compromised private keys or approved spender allowances, though no specific dApp, wallet provider, or vulnerability has been confirmed. ZachXBT previously exposed the Trust Wallet browser-extension supply-chain hack that led to roughly $7M in losses, underscoring his role as a prominent on-chain sleuth. Primary keywords: wallet drain, EVM chains, ZachXBT, wallet approvals, revoke approvals, stolen funds.
Bearish
This incident is likely bearish for short-term market sentiment, especially for smaller-cap tokens and cross-chain projects. Wallet drain campaigns erode user confidence, trigger caution among retail holders, and can depress trading volumes as affected users move assets off exchanges or pause activity to secure wallets. The losses reported are modest in absolute terms (~$107k observed) but broad in reach across major EVM networks, which amplifies perceived risk. Similar past events — e.g., the Trust Wallet extension supply-chain hack — caused immediate sell pressure on affected tokens and temporary spikes in on-chain safety tools usage and wallet migration, while larger-cap assets (ETH, BNB) showed limited sustained price impact. In the short term expect increased volatility in impacted token markets, higher demand for on-chain security tools (revokes, new wallet creation), and cautious behaviour from retail traders. Longer term, if the exploit source remains unidentified and drains continue, trust in certain wallet integrations or dApps could decline, possibly slowing adoption and liquidity for affected chains. However, if the community and providers respond quickly with clear mitigation and reimbursements (as in prior large incidents), the market impact should be contained and sentiment may recover.