Hundreds of long-dormant Ethereum wallets drained, cause unknown

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On May 1, Ethereum news emerged as hundreds of long-dormant ETH wallets were emptied by a single address. Many of these wallets had been inactive for over seven years. Aragon team member @TheTakenUser confirmed their funds were stolen, though the cause remains unclear. Community speculation suggests leaked private keys or outdated storage platforms such as LastPass from 2017–2020, rather than a new smart contract vulnerability. Ethereum ecosystem updates continue to underscore ongoing security concerns regarding wallet safety.

BlockBeats report: On May 1, according to crypto analyst Wazz, hundreds of wallets—many of which had been inactive for over seven years—were emptied on the Ethereum mainnet by a single address. Aragon team member @TheTakenUser also confirmed that funds from their wallet were transferred without explanation.


The initial cause of this incident has not yet been determined. Community analysis suggests it resulted from leaks of old mnemonic phrases, private keys, or storage such as LastPass, or from previously granted risky permissions, rather than a vulnerability in the new smart contract.

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