NGRAVE Traces $2.56 Million in Losses From Fake LIQUID Alerts

NGRAVE has traced about $2.56 million stolen from roughly 70 wallet addresses after attackers used its LIQUID app alerts to lure users into surrendering wallet recovery credentials.

At about 5:30 p.m. ET (21:30 UTC) on Oct. 17, a false alert claimed a user's portfolio had been synced to a Pixel 9 in Moscow. It led to a counterfeit NGRAVE site that asked for a 24-word recovery phrase or Perfect Key. Users who entered either credential had their wallets emptied within minutes.

The attackers gained access to a third-party provider that sends LIQUID notifications. NGRAVE's ZERO hardware wallet, stored private keys and LIQUID app code were not breached.

NGRAVE's estimate uses Oct. 17 prices and remains a minimum while the company checks other networks and matches customer reports. A broader on-chain count reached $2.65 million across 84 wallets on six networks, but transaction records cannot establish that every wallet belonged to an NGRAVE user.

LIQUID is the companion app for the ZERO hardware wallet. NGRAVE has closed the compromised access, replaced keys used by its live systems and asked exchanges and bridge services to freeze stolen funds. It plans to restrict LIQUID links to official company sites.