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In the past few days, AnChain.AI has been supporting victims of the NGRAVE hardware wallet phishing attack since October 17, 2026. Our team is assisting NGRAVE users who lost XRP and other cryptocurrencies, working with U.S. law enforcement, and tracing stolen funds to various virtual asset service providers (VASP) and requesting asset freeze for our clients.
We are sharing this community alert to help hardware wallet owners, not just NGrave, recognize the threat and protect their assets. Even a notification delivered through your wallet’s official companion app deserves independent verification—especially when it asks for recovery credentials.
On October 17, attackers hijacked a third-party notification service used by NGRAVE’s LIQUID app. Fraudulent security alerts directed users to a counterfeit website requesting their recovery phrase or NGRAVE Perfect Key. NGRAVE reported that the ZERO hardware device and its stored private keys were not directly breached. Disclosed recovery credentials allowed attackers to reconstruct wallets elsewhere and transfer funds.
Reportedly affected cryptocurrencies included:
The published analysis identified activity across these networks, while acknowledging that blockchain records alone cannot establish that every affected address belonged to an NGRAVE customer.
Public reporting and the underlying investigation identified several DeFi, VASP and blockchains along the traced routes:
AnChain.AI’s forensic work connects the initial theft to subsequent transactions and potential investigative endpoints. AI agents can accelerate transaction tracing and evidence organization, while investigators validate attribution and distinguish confirmed transfers from inferred connections.
Hardware wallet security has also been a focus of our earlier research in 2026. Our August 3 article, Coldcard Hardware Wallet Hack: Everything You Need to Know, examined key-generation weaknesses and the resulting Bitcoin transaction trail. Together, these cases highlight risks across key generation, recovery credentials, and the software surrounding a hardware wallet.
If you are impacted, AnChain.AI offers two ways to get started:
© 2026 AnChain.AI. All Rights Reserved | Privacy Policy