NGRAVE Crypto Wallet Users Lose $2.65M in Phishing Attack
A sophisticated phishing attack has compromised NGRAVE users, resulting in significant financial losses.
A sophisticated phishing attack has compromised NGRAVE users, resulting in significant financial losses. Hyperliquid (HYPE) is trading at $81.52, up 1.9% since this brief published. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Tue, 20 Oct 2026 15:00:05 UTC.
This incident highlights the ongoing security challenges in the crypto wallet space and the potential vulnerabilities even in hardware wallets marketed as highly secure.
- NGRAVE users lost $2.65 million in a phishing attack.
- Funds were traced to XMR1 purchases on Hyperliquid.
- Hyperliquid's TVL remains at $318.43M despite the incident.
A recent phishing attack has resulted in the loss of $2.65 million from users of NGRAVE, a company that produces hardware crypto wallets. The attack was sophisticated, indicating that even users of hardware wallets, which are typically considered more secure, are not immune to such threats.
The funds stolen in the attack were traced to purchases of XMR1 on the decentralized exchange 
Hyperliquid, according to data from Bitquery. This suggests that the attackers may be attempting to convert the stolen assets into privacy-focused cryptocurrencies to obscure their tracks.
Despite the incident, Hyperliquid's Total Value Locked (TVL) remains relatively stable at $318.43 million, showing a minor decrease of 1.0% over the past seven days, as reported by DeFiLlama. This indicates that the platform's operations have not been significantly disrupted by the influx of potentially illicit funds.
The broader crypto market remains largely unaffected by the incident, with the total market cap standing at $2.82 trillion and showing a flat trend. 
Bitcoin has seen a modest increase of 0.47% in the last 24 hours, while the Fear & Greed index remains in 'Greed' territory at 55, suggesting a relatively positive sentiment among investors.
This incident raises important questions about the security measures in place for crypto wallets and the measures users can take to protect themselves. It also highlights the need for continuous vigilance and improved security protocols in the crypto space.
Since this brief published about 1 hour ago, Hyperliquid (HYPE) has moved from $80.01 to $81.52 — +1.89%.
The chart plots HYPE's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 HYPE ≈ ₦111,192.87 (about $81.52), up 3.6% over 24 hours. The naira itself trades about 2.3% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 20, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
NGRAVE Crypto Wallet Users Lose $2.65M in Phishing Attack — questions & answers
How were the NGRAVE users compromised?
The users were targeted in a sophisticated phishing attack, resulting in the loss of $2.65 million.
What happened to the stolen funds?
The funds were traced to XMR1 purchases on the decentralized exchange Hyperliquid.
How has Hyperliquid been affected?
Hyperliquid's TVL remains at $318.43 million, showing a minor 1.0% decrease over the past week.
How much is 1 Hyperliquid worth in naira today?
About ₦111,192.87 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $81.52. The naira price moves with both HYPE's US-dollar price and the USDT/NGN rate; use our Hyperliquid in naira page for any amount.
Has Hyperliquid's price moved since this brief was published?
HYPE is up 1.89% since this brief first published — trading at $81.52 now versus $80.01 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.