I also use Wells Fargo, and knock wood, haven't been hit. I did get hit last year for the small one that was under $10, and canceled my card and got a new one.
I have also been hit, after going to a local event where both the event staff and one of the food vendors used the "Square" mag stripe reader that they attach to their phone. Those are not encrypted, by the way, which I found out after the fact. Wells Fargo was quick to freeze my account as soon as they saw some suspicious activity on my debit card, and opened a fraud case and replaced the money stolen the same day.
I was on a business trip and ended up having to use my corporate AMEX card for the purchase that was declined from my debit for my personal use. Luckily, they were cool about it, understood the circumstance, and I paid that portion of the bill online.