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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.
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.
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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.
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