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Blockchain investigator ZachXBT revealed on Thursday that a social engineering scam led to the theft of about $91.4 million in bitcoin.
A crypto investor in the United States lost 783 bitcoin—valued at $91.4 million—after falling victim to a scammer posing as a technical support agent. The fraudster obtained the investor’s wallet password and emptied the account within seconds.
Similar schemes are on the rise, with industry estimates suggesting that as much as $3.1 billion could be stolen from digital wallets through such methods by 2026.
The attack, which occurred on Aug. 19, saw the perpetrator impersonate a hardware wallet support representative and trick the victim into surrendering their wallet credentials, resulting in the loss of 783 bitcoin.
The incident reflects a broader pattern of social engineering scams seen last year. It adds to what has already been a difficult 2025 for crypto investors, who lost $3.1 billion to attacks and fraud in the first half alone.
Once the transfer was made, the stolen funds were funneled through a typical laundering process, including multiple deposits into Wasabi Wallet, a privacy tool often used to obscure transaction trails.
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