A cold wallet user lost millions of dollars worth of Bitcoin and NFTs.

A cryptocurrency investor known as "Anchor Drops" on the X (formerly Twitter) platform reported losing 10 Bitcoin (BTC) and NFTs worth 1.5 million dollars from their Ledger Nano S hardware wallet. Security experts revealed that the loss stemmed from a phishing attack that occurred in 2022. This incident highlights that even hardware wallet users must remain vigilant against phishing attacks.

Cryptocurrency Investor Loses 10 BTC with a Single Click

The phishing attack took place on February 22, 2022. The Ledger company emphasized that the incident was not related to their security systems. A company spokesperson stated that the user was targeted by a phishing attack on their Ethereum wallet and that a similar user error might have occurred on the Bitcoin side.

Security experts indicated that the attacker may have seized the user's recovery phrase. This allowed the attacker to gain access to assets across all supported blockchain networks, including Bitcoin.

Tony Ke, the chief security researcher at Fuzzland, noted that the NFT losses could be explained by Ethereum transactions, but the technical details of the Bitcoin loss remain unclear. Security researchers are urging users to regularly check their token approvals and carefully review each transaction.