A Bitcoiner fell victim to a $91 million social engineering attack, losing 783 BTC to impostors posing as crypto exchange and wallet support. The thief laundered the stolen funds through a privacy-focused Bitcoin wallet, concealing the trail of the theft. Social engineering scams target crypto investors of all levels.

The attacker received the stolen funds in a clean Bitcoin wallet address, then used Wasabi Wallet’s privacy features to hide them. The incident occurred exactly one year after the $243 million Genesis creditor theft. Although ZachXBT ruled out the North Korean Lazarus Group, the culprit remains unidentified.

Scammers frequently impersonate crypto hardware wallet providers like Ledger and Trezor, duping users into revealing secret recovery phrases. In April, scammers posed as Ledger, claiming a “critical security update” requiring users’ recovery phrases. An elderly US citizen lost over $330 million to a similar attack.

Crypto-related attacks have resulted in over $2.1 billion in losses in the first five months of 2025. Most losses stem from wallet compromises and phishing attacks. The $1.4 billion Bybit exchange exploit in February underscores the vulnerability of even well-audited platforms to theft. Blockchain security firm CertiK highlighted the growing threat to the industry.

Read more at Cointelegraph: Bitcoiner Loses $91M In Social Engineering Attack