Abstract L2 suffers wallet drain

Ethereum (CRYPTO:ETH) layer-2 platform Abstract is investigating a wallet drain issue after users reported compromised accounts on February 18, 2025.  

The issue emerged after Abstract deployed over 1 million Abstract Global Wallets (AGW).

Abstract Chain developer 0xBeans stated that the issue was not a global AGW problem but was isolated to a specific application, suspected to be the Abstract-based game Cardex.

Users were advised to avoid interacting with Cardex.

Another team member, 0xCygaar, confirmed the issue was related to Cardex and urged users to revoke their sessions.

He stated that AGW’s contracts were not exploited and that the problem stemmed from negligence in session key management by the Cardex application.

Some users reported losing six-figure sums in Ether (ETH).

An on-chain investigator noted that the exploiter’s wallet received over 7,000 incoming transactions, suggesting a large number of affected wallets.

Following the hack, security researchers advised users to disconnect from all apps, transfer funds to a secure wallet, and revoke permissions for Cardex.

One investigator described the attack as a “first session key hack,” where a malicious session granted the exploiter access to wallets for about a month.

Abstract wallets, designed for simple logins, were intended to promote wider Web3 adoption.

Some Abstract users reported that wallets not linked to Cardex were also affected.

Estimates of drained funds range from $31,570 to $100,000, with some on-chain explorers suggesting losses of up to 300 ETH.

Abstract launched its mainnet on January 27 and raised $11 million in July 2024.

Investors, including Peter Thiel’s Founders Fund, backed the project.

At the time of reporting, the Ethereum (ETH) price was $2,685.07.