Stolen Millions Reveal Crypto’s Trust-Based Security Weakness
A prominent investor lost 783 Bitcoin, equivalent to approximately $91.4 million, in a high-profile social engineering attack that unfolded on August 19, 2025. The incident, uncovered by blockchain investigator ZachXBT, involved attackers impersonating hardware wallet and cryptocurrency exchange support agents. By deceiving the victim into revealing private wallet credentials, the attackers gained access to the account and executed a single transaction to transfer the funds [1]. The stolen assets were subsequently moved through multiple wallets, including Wasabi Wallet, a privacy-focused tool used to obscure transaction trails [2].
The theft occurred one year after a similar attack targeting a creditor of the now-collapsed crypto lender…
