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A fraudster posing as a hardware wallet support agent tricked the target into handing over wallet credentials.
Aug 21, 2025, 6:13 p.m.
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.
Theft wallet (Blockchain.com
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.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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