DeFiance Capital founder Arthur Cheong reported losing about $1.8 million in cryptocurrency and NFTs after a targeted social engineering attack compromised his hot wallet. Cheong said the likely entry point was a spear-phishing email that appeared to come from legitimate industry contacts and led him to open a malicious attachment. The stolen assets included roughly 80 NFTs, 68 Wrapped Ether, 4,349 Staked DYDX, and 1,578 LooksRare tokens, with NFTs later listed on OpenSea. The case shows how well-crafted phishing against crypto operators can bypass hardware-wallet habits when trading activity shifts assets into a hot-wallet workflow.