2026 Major Crypto Fraud: Over $282 Million Stolen in Hardware Wallet Attack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jan 17 2026

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Fraud Case Unveiled: On January 11, 2026, researcher ZachXBT revealed a large-scale hardware wallet social engineering attack that resulted in over $282 million in Bitcoin and Litecoin being stolen, marking one of the largest thefts in crypto history.
Asset Conversion Tactics: The attacker converted the stolen assets into Monero through multiple 'instant exchange' platforms in an attempt to cover their tracks, causing a sharp surge in Monero's price, highlighting the risks of price shocks during periods of limited market liquidity.
Cross-Chain Transfers: ZachXBT noted that some of the stolen Bitcoins were moved across different networks via Thorchain, involving Ethereum, Ripple, and Litecoin networks, complicating the recovery and tracking of the stolen assets.
Wallet Address Insights: The disclosed wallet addresses reportedly contain approximately 2.05 million LTC and 1,459 BTC, revealing the scale of the theft and its potential impact on the cryptocurrency market.

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Technical Analysis for FORM

Technical Sentiment Analysis for Formation Fi (FORM). As of , Formation Fi (FORM) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for FORM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, FORM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Formation Fi (FORM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.134	0.174	0.213	0.254	0.293	0.333	0.372
Fibonacci	0.174	0.205	0.224	0.254	0.284	0.303	0.333

About FORM

BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.Some of the services provided by BinaryX includes infrastructural support, a DAO governance system, and community building to scale promising gamefi projects and bring more innovation to the blockchain gaming sector.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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