Quick Summary:
- An anonymous Bitcoin holder lost 783 BTC ($91M) to scammers posing as exchange and wallet support.
- Attackers used Wasabi Wallet’s privacy features to launder stolen funds within 24 hours.
- ZachXBT ruled out North Korean hackers, calling it a classic social engineering attack.
- Attack happened exactly one year after $243M Genesis creditor theft.
A Bitcoin holder lost $91 million in a single transaction on Tuesday after falling victim to a sophisticated social engineering attack.
The victim lost 783 Bitcoin to scammers who posed as customer support from crypto exchanges and hardware wallet companies.
Blockchain investigator ZachXBT revealed the details Thursday, showing how attackers moved the stolen funds to a privacy-focused Bitcoin wallet within hours.
The theft happened at 11:06 AM UTC on Tuesday. Blockchain data shows the exploiter began laundering the funds a day later through Wasabi Wallet.
Social Engineering Scam
Social engineering attacks trick people into revealing private keys or passwords. These scams target human psychology rather than technical vulnerabilities.
ZachXBT said the best defense is treating every unexpected call or email as a “scam by default.”
The attacker received funds at a clean Bitcoin address before using privacy features to conceal the trail. ZachXBT ruled out North Korea’s Lazarus Group as suspects.
The timing proved eerily similar to other major thefts. This attack occurred exactly one year after the $243 million Genesis creditor theft.
Hardware Wallet Impersonation Scams
Scammers frequently impersonate hardware wallet providers like Ledger and Trezor. They use sophisticated tactics to steal recovery phrases.
In April, fake Ledger representatives sent physical letters claiming users needed “critical security updates.”
The letters warned that failure to provide seed phrases would “restrict access to wallet funds.”
These attacks proved successful beyond Bitcoin. An elderly US citizen lost over $330 million worth of Bitcoin to social engineering in the same period.
Crypto theft remains a multibillion-dollar problem. CertiK reported over $2.1 billion stolen in crypto attacks during the first five months of 2025.
The largest single incident was Bybit’s $1.4 billion exploit in February. This highlighted how even major exchanges face security risks.
Also Read: U.S. May Use Tariff Surplus to Build Bitcoin Strategic Reserve
