In a move that’s basically the financial equivalent of trusting a stranger on the internet to babysit your pet iguana, someone lost a staggering $91 million worth of Bitcoin-yes, nine figures-all thanks to a social engineering scam. Because what’s the point of having millions if you can’t be swindled by a smooth-talking scammer pretending to be a support agent? 🕵️♂️
The mastermind behind this digital con is an on-chain detective-kind of like Sherlock Holmes but with fewer pipe-smoking habits-going by ZachXBT. Apparently, the victim’s exchange and hardware wallet support lines were impersonated, which is practically the crypto equivalent of a con artist knocking on your door and claiming they’re from the “Pain Relief Department” of your bank.
“The stolen funds started to peel off like a bad apple,” ZachXBT notes, “and a little deposit was made to Wasabi-yes, the privacy-focused wallet that stopped US operations last year.” It’s almost poetic that our thief chose Wasabi, which sounds more like a spicy condiment than a security feature. Coincidentally, this theft happened exactly one year after a $243 million Genesis Creditor scam-talk about anniversaries that nobody wants to celebrate.
Wasabi was supposed to be the fortress of solitude for your Bitcoin, but apparently hackers found a back door no one knew about. Who could have guessed that a privacy-focused wallet leaving the US wasn’t a great advertisement for invincibility?
ZachXBT adds that social engineering isn’t some secret black art; it’s like a very convincing con artist with a PhD in online gossip and data breaches. With personal info floating around like confetti at a parade, these scammers can exploit your grandma’s love for crossword puzzles just as easily as they can hack your wallet. And no, North Korea’s not behind this one, folks-often the scapegoat for everything from lost scooters to missing socks.
These scams-think of them as the cyber equivalent of convincing someone to give you their house keys by pretending to be the landlord-are making a killing. Earlier this year, ZachXBT reported Coinbase users are hemorrhaging over $300 million annually because of these sneaky schemes. Truly a masterclass in financial halftime shows.
making phone numbers optional for verified users, introducing accounts that can’t withdraw without extra steps, community outreach to tell hapless victims where they went wrong, and even threatening legal action against the scammers and the banks helping them-because who doesn’t love a good courtroom drama? 🎭
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2025-08-22 10:42