SpecterAnalyst reports $4.5M drained from 13 dormant Ethereum wallets
On-chain investigator SpecterAnalyst said the incident involved 13 dormant Ethereum wallets and that about $4.5 million was drained in what appears to have been a likely key compromise. The report identifies the wallets as inactive for an extended period before the alleged theft.
In the early hours today, Tether blacklisted a wallet holding ~$83M. While the "why" is publicly unclear, The funds are not pig-butchering proceeds, but rather illicit funds that were laundered into this wallet.
Tracing the inflows shows that part of the funds originated from… pic.twitter.com/m6ZsCLsyh6
— Specter (@SpecterAnalyst) February 10, 2026
According to the information shared by SpecterAnalyst, the affected wallets had been dormant for years before the drain occurred. The investigator also said the victim was able to secure and move $4.7 million before the attack progressed further. No additional technical details about the access method, the timing of each transfer or any recovery process were provided in the source material.
The available report frames the event as a wallet-level compromise rather than a protocol exploit. That distinction matters because the loss appears tied to private key exposure or similar unauthorized access, not to a failure in Ethereum itself or in a specific application contract.
Based on the source provided, the current confirmed status is limited to SpecterAnalyst’s account of the drain and the estimate of funds taken. The material does not identify the owner of the wallets, confirm where the assets were moved or indicate whether any portion of the stolen funds has been frozen or recovered.
The source also does not provide evidence for motive, attribution of the attacker, or a broader campaign connected to the incident. For now, the confirmed development is the reported drain from the dormant wallets and the claim that the loss likely resulted from a key compromise.
