Victim loses $91M in Bitcoin after social engineering scam; hacker uses Wasabi Wallet, mixers to launder 783 BTC.
A major Bitcoin theft shocked the crypto world on August 19, 2025. In this case, a victim lost $91 million after falling for a social engineering scam. The scammers tricked the victim by pretending to be support staff from a crypto exchange and hardware wallet provider. Blockchain analyst ZachXBT shared the full story on X, including transaction data.
Hacker Uses Wasabi Wallet, Mixers to Launder 783 BTC
The fraud started with a fake call. The victim thought that the scammers are genuine representatives of the companies. They consequently moved 783 BTC in a single transfer. ZachXBT has provided the hash of the transaction and the address used to steal it and is being monitored now.
The next is that the theft occurred at 11.06 am UTC on a Tuesday. Interestingly, this heist was in the same year as the Genesis Creditor hack one year later which had cost Genesis $243 million. This timeline put some doubts in minds as to existing patterns or connection between the two events. The scammer started concealing the stolen BTC just a day after.
The hacker then laundered the money via a privacy-oriented Bitcoin wallet Wasabi Wallet. This tool is usually applied in order to make transactions difficult to track. In this instance, it aided the fraudster to divide the stolen BTC into separate wallets. Part of the money was also transferred by using Bitcoin mixers. These are the tools that rupture the association between a sender and a receiver.
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In addition, this theft points to the increased risk of social engineering in crypto. Unlike technical hacks, these scams deceive users by means of human-to-human interaction. In the case of scammers, they claim to be reliable parties hence it is more difficult to detect them. That is why, specialists recommend not to be so free with messages or phone calls that one cannot be aware of.
Experts Urge Caution as Social Engineering Scams Rise
This case shows how privacy tools can be misused. Although there is nothing illegal about Wasabi Wallet, most criminals use it to hide their trail. This complicates the job of law enforcement in tracking stolen crypto. It also demonstrates how there is a need to have better mechanisms for detecting and preventing any suspicious activity.
On a positive side, the crypto community is trying to find solutions. Block-necklaces investigators retain such a tremendous role as keeping an eye on deceived money. Their report can increase awareness and help law enforcers. However, even after entering mixers, it is very hard to get the crypto back.
Lastly, the 91 million dollar steal is a big wake-up call. It is a reminder to crypto users that before they reach out to any contacts, they should ensure everything is confirmed, and sensitive information should not be shared. The social engineering scam is particularly dangerous in the crypto market. With the rising market, better education and protection is demanded. Be cautious and check everything that you see, and adhere to updates posted by more reliable thinkers such as ZachXBT.
