tl;dr
Crypto investigator ZachXBT revealed a social engineering scam on August 19 that led to the theft of 783 Bitcoin, worth $91 million. Attackers impersonated support staff from a crypto exchange and hardware wallet provider, then laundered the stolen funds through Wasabi Wallet and Bitcoin mixers to o...
Crypto sleuth ZachXBT has uncovered a staggering social engineering scam that resulted in the theft of 783 Bitcoin, valued at $91 million, on August 19. This alarming incident highlights the increasing prevalence of social engineering attacks within the cryptocurrency space, as bad actors continue to evolve their methods to deceive innocent victims.
The scam involved attackers impersonating customer support representatives from both a crypto exchange and a hardware wallet provider. The stolen Bitcoins were then funneled into Wasabi Wallet, a privacy-focused Bitcoin wallet, further complicating efforts to trace the funds. ZachXBT shared the theft transaction hash (da598f2a941ee3c249a3c11e5e171e186a08900012f6aad26e6d11b8e8816457) and the implicated Bitcoin address (bc1qyxyk4qgyrkx4rjwsuevug04wahdk6uf95mqlej), accompanied by detailed blockchain mapping that exposed a labyrinthine network of laundering addresses alongside multiple deposits into Bitcoin mixers to obscure the trail.
Notably, this theft occurred on the one-year anniversary of the notorious $243 million Genesis Creditor theft, underscoring how high-profile crypto scams continue to shock the industry. ZachXBT cautions investors to treat every unexpected call or email with suspicion as a default defense against social engineering tactics that exploit human trust rather than technical vulnerabilities.
The rise of such scams is further illustrated by a separate recent case involving a scammer impersonating a senior UK police officer to steal $2.8 million in Bitcoin. The attacker manipulated the victim by claiming a relative's arrest and the risk to their assets, ultimately coaxing them into entering their seed phrase on a fake website. This incident serves as a poignant reminder to verify all communications and safeguard your seed phrase diligently. Authorities emphasize that scammers are continuously refining their schemes, targeting even the most cautious investors.
Adding to the threats in this domain, scammers have been observed impersonating reputable publications like WalesOnline and circulating fabricated BBC footage to promote crypto scams. The growing use of deepfake technologies and phishing schemes impersonating legitimate platforms, such as Coinbase support, represent escalating dangers in the crypto ecosystem. Staying vigilant, protecting private keys and seed phrases, and maintaining skepticism toward unsolicited communications remain crucial defenses in this evolving battle against crypto fraud.