Victim Loses $91M in Bitcoin in Social Engineering Scam: ZachXBT

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.

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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