Share this article
Victim Loses $91M in Bitcoin in Social Engineering Scam: ZachXBT
A fraudster posing as a hardware wallet support agent tricked the target into handing over wallet credentials.
Updated Aug 22, 2025, 1:14 p.m. Published Aug 21, 2025, 6:13 p.m.
Make us preferred on Google
What to know:
- A victim lost 783 BTC in a social engineering scam after an attacker impersonated hardware wallet support.
- The stolen funds were funneled through multiple deposits into Wasabi Wallet, a privacy tool used to mask transaction trails.
- The hack came exactly one year after the $243M Genesis creditor theft, underscoring ongoing vulnerabilities in crypto security.
Blockchain sleuth ZachXBT uncovered a high-profile social engineering attack on Thursday, with the victim losing 783 BTC worth around $91.4 million.
The scam occurred on Aug. 19 and involved the attacker posing as a support agent for a hardware wallet before duping the victim into handing over wallet credentials.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The attack mirrors a string of social engineering attacks over the past year and contributes to an already woeful year in terms of hacks and scams, with crypto investors losing $3.1 billion in the first half of 2025.
Once the malicious transfer was made, the funds began their journey through a typical laundering process, with multiple deposits made into Wasabi Wallet, a privacy tool commonly used to obfuscate the trail.
The hack occurred exactly one year after the $243 million Genesis creditor theft, a landmark event that sent ripples across the industry and led to the arrest of 12 people in California in May.
