A Bitcoiner lost nearly $91 million worth of Bitcoin in a single transaction on Tuesday after falling victim to a sophisticated social engineering attack. Blockchain investigator ZachXBT revealed on Thursday that the victim was tricked by impostors posing as crypto exchange and hardware wallet support, leading to the theft of 783 BTC. Blockchain data confirmed the funds were stolen at 11:06 am UTC on Tuesday before being moved the next day through Wasabi Wallet, a Bitcoin privacy tool, in an effort to obscure the transaction trail. Social engineering attack relies on manipulating individuals into revealing sensitive information, such as private keys or recovery phrases, giving attackers complete access to their funds. These scams have increasingly targeted both retail investors and seasoned traders. ZachXBT advised that anyone dealing with unsolicited calls or emails should treat them as a “scam by default.” Interestingly, the hack coincided with the one-year anniversary of the $243 million Genesis creditor theft, though no direct links between the two incidents have been found. Hardware Wallet Attack Cases on the Rise Impersonation of hardware wallet providers like Ledger and Trezor has become a frequent tactic among scammers. In April, fraudsters mailed fake letters pretending to be Ledger, warning users to perform a “critical security update.” The letter instructed victims to reveal their secret recovery phrases, effectively handing over full control of their wallets. That same month, another high-profile case emerged when an U.S. citizen lost more than $330 million worth of Bitcoin to a social engineering scheme, underscoring how devastating these attack cases can be across demographics. ZachXBT noted that while the attacker behind this week’s incident remains unidentified, it does not appear linked to the North Korean Lazarus Group, which has historically carried out several large-scale crypto hacks. Crypto Thefts Remain a Multibillion-Dollar Problem Despite improved awareness, crypto-related thefts remain rampant . According to blockchain security firm CertiK, over $2.1 billion has already been stolen in 2025, with the majority involving wallet compromises and phishing scams. The largest single incident so far this year was the $1.4 billion Bybit exploit in February , proving that even heavily audited exchanges are not immune to attack. With threats escalating, experts stress that safeguarding private keys, verifying support requests, and practicing skepticism toward unsolicited messages remain the most effective ways to avoid becoming a victim. The post Bitcoin Investor Loses $91 Million in Social Engineering Attack appeared first on TheCoinrise.com .
