An investor lost 783 BTC, worth about $91.4 million, after a fraudster impersonating a hardware wallet support agent gained access to their wallet, Coindesk reported. The theft, disclosed by blockchain investigator ZachXBT, is one of the
largest individual social engineering scams in recent months.
Funds Routed Through Wasabi Wallet
The incident occurred on August 19. The attacker tricked the
victim into handing over wallet credentials, allowing them to transfer the
Bitcoin. The funds were then moved through Wasabi Wallet, a privacy tool
commonly used to hide transaction trails.
The case adds to a series of major crypto scams in 2025.
Investors lost $3.1 billion to hacks and fraud in the first half of the year,
with social engineering becoming an increasingly common tactic.
The theft also comes exactly one year after the $243 million
Genesis creditor hack, which led to multiple arrests in California earlier this
year. Both incidents underline how attackers continue to exploit weaknesses
beyond technical security.
Security Concerns Persist
The $91 million loss highlights the ongoing risks facing
crypto investors, even as firms improve technical safeguards. Analysts warn
that impersonation and phishing schemes remain difficult to prevent, with
scammers increasingly targeting users through trusted support channels.
This article was written by Jared Kirui at www.financemagnates.com.
