The Heatbit Maxi, a space heater that also mines bitcoin, is one such device. Residential electricity rates have corkscrewed to stratospheric heights in the US since 2020, rising more than 40 percent in the past six years as of February 2026.
"They have been more successful than anyone including themselves could have anticipated," said Nick Giles, a senior research analyst at B. Riley Securities who covers several of the firms, most of which are public.
The victim, identified in court documents only as T.M., received an unsolicited letter at their home address in September 2025. The letter appeared to come from Ledger Security and Compliance and instructed the recipient to complete a mandatory security review of their Ledger hardware wallet.
The incident, Drift said, was a 'highly sophisticated operation' involving 'the use of durable nonce accounts to pre-sign transactions that delayed execution' and the compromise of multisig signers' approvals.