Blockchain sleuth ZachXBT revealed the incident on Thursday, noting that the attack took place Tuesday morning when the victim was tricked by impostors posing as support staff for a crypto exchange and hardware wallet provider.
The stolen Bitcoin was quickly funneled into a new wallet before being laundered through Wasabi Wallet, a privacy-focused tool designed to obscure transactions. ZachXBT said the attacker began mixing funds a day later, making it more difficult to trace.
Social engineering attacks rely on deception rather than technical exploits, convincing victims to share private keys or sensitive login details. These scams often involve fake support teams, fraudulent emails, or even phone calls claiming to come from trusted providers.
ZachXBT warned users to treat every unsolicited call or message as a “scam by default.” He also ruled out the involvement of North Korea’s Lazarus Group, which is often blamed for high-profile crypto thefts.
The theft comes exactly one year after the $243 million Genesis creditor hack and follows a string of similar incidents. In April, scammers impersonating Ledger mailed fake “security updates” to users in an attempt to steal recovery phrases. The same month, an elderly U.S. citizen lost more than $330 million in Bitcoin through a nearly identical scheme.
So far in 2025, crypto-related thefts have exceeded $2.1 billion, according to CertiK, with the largest single case being the $1.4 billion Bybit exploit in February. Analysts warn that despite better security tools, human-targeted scams remain one of the most effective ways for attackers to drain wallets.
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