Key Notes
- Crypto sleuth ZachXBT reported that a victim lost 783 Bitcoin in a social engineering scam.
- The bad actors have laundered the funds through a complex network of addresses.
- Crypto users are advised to treat every call or email as a default scam.
On August 19, a victim lost 783 Bitcoin (BTC) in a social engineering scam. At the time, the value of the funds comprised $91 million.
Popular crypto sleuth, ZachXBT, revealed the sophisticated scam on X, noting that the attackers posed as a crypto exchange and wallet support. Notably, this attack reflects the growing incidents of social engineering scams globally.
On Aug 19, 2025 a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated.
The stolen funds began to peel off and deposits to Wasabi were made by the threat actor.
Coincidentally this theft… pic.twitter.com/gglShNo2UC
— ZachXBT (@zachxbt) August 21, 2025
Scammers Manipulated User Into Divulging Information
In this case, the bad actor disguised as a customer support representative from a crypto exchange and a hardware wallet provider. The scammers manipulated the customer into giving out personal details. Noteworthy, this had nothing to do with any technical fault or vulnerability.
Once armed with this information, the hacker was able to siphon funds from their account, which were subsequently funneled into Wasabi, a privacy-focused Bitcoin wallet.
After some intense analysis, ZachXBT also revealed that the bad actors have laundered the funds through some very complex network of addresses. In other words, it has employed the services of multiple crypto mixers to mask the source of the funds, although none were specifically mentioned.
No relationship whatsoever has been established, but ZachXBT noted that “Coincidentally this theft happened on the first anniversary of the $243 million Genesis Creditor theft.”
Going forward, the crypto sleuth advised crypto users to treat every call or email as a potential scam. This way, they are likely to be more cautious in their dealings with such interactions.
TRON DAO Reports Breach in Its System
With the cryptocurrency industry growing fast, the operations of bad actors are becoming sophisticated. These cybercriminals are consistently coming up with new tactics to cheat unsuspecting crypto enthusiasts out of their assets. It is worth noting that social engineering has been the bedrock of such scams, and it usually comes in different forms.
Sometimes, bad actors utilize a pig butchering strategy, where they gradually get their victims to trust them before eventually striking.
Last May, TRON DAO’s X page went under siege by a hacker who leveraged unauthorized access to publish a post with a contract address. The incident led TRON founder Justin Sun to urge OKX to freeze funds believed to be linked to the exploit.
The hacker sent direct messages to several accounts and followed some other X profiles, all done with no authorization. The TRON DAO team claimed that none of these actions were completed with its permission.
Rather, it claimed that “a member of our team was targeted in a malicious social engineering attack, which led to their account being compromised.”
“TRON DAO will never post contract addresses or send unsolicited DMs. If you received a DM from our account on May 2, please delete it and consider it the work of the attacker,” the protocol explained at the time.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
