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.
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.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
