A recent case of fraud in the cryptocurrency sector has shocked investors after one of them lost 783 BTC, approximately $91 million.
Scam Overview
According to blockchain investigator ZachXBT, scammers tricked their victim by posing as support staff for a crypto exchange and a hardware wallet provider. The theft occurred on Tuesday, August 19, 2025, at 11:06 AM UTC.
Funds Laundering Techniques
Data shows that the stolen funds were first sent to a fresh wallet address before being funneled through Wasabi Wallet, a mixing service, complicating tracing efforts. ZachXBT reported that the attacker began laundering the assets the following day.
Security Recommendations
ZachXBT urged investors to be particularly cautious, advising them to assume every call or email is a scam by default. He noted that social engineering cases are on the rise, with over $2.1 billion already stolen in 2025, mostly through phishing schemes.
This incident highlights the importance of vigilance in the cryptocurrency space as social engineering tactics become increasingly common among scammers.
