Attackers used access to a third-party notification provider to distribute fake security alerts through NGRAVE’s LIQUID app. By announcing a sync with a new device, the messages directed victims to a copy of NGRAVE’s website and then to a page requesting their recovery credentials. NGRAVE recorded the theft of approximately $2.56 million from 70 wallet addresses across four networks, primarily in Bitcoin and Ethereum, between the 17th and 18th. The funds were transferred and swapped before being used on Hyperliquid to buy 3,592.71 XMR1, worth about $2.16 million in total.
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