Software Wallet Hack: $1.35 Million Stolen From Crypto Founder

A major crypto theft has occurred, with a $1.35 million loss stemming from a software wallet hack targeting a Thorchain cofounder. The victim was not tricked into sending funds; instead, malicious code directly compromised the wallet’s private keys, granting attackers immediate access to the stolen assets. This incident highlights a critical vulnerability in software wallets – their susceptibility to malware and online attacks. Even seasoned investors are at risk if their crypto is held in these easily-compromised systems. 10% of all crypto theft is now attributable to software wallet compromises, according to Chainalysis.