Massive $330M Bitcoin Heist Hits U.S. Investor Through Social Engineering Scam
$330M in Bitcoin stolen from a U.S. investor in a massive 2025 crypto heist using social engineering, peel chains, and Monero laundering tactics.
On April 28, 2025, a staggering $330 million worth of Bitcoin was stolen from an elderly investor in the United States following a sophisticated social engineering scam, according to blockchain investigator ZachXBT. The attacker managed to siphon off 3,520 BTC, making it one of the largest single-user cryptocurrency thefts ever recorded.
Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)
Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g
Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike… — ZachXBT (@zachxbt) April 28, 2025
ZachXBT was among the first to detect and publicly report the suspicious activity. His real-time on-chain analysis revealed that the Bitcoin was divided into two transactions and quickly laundered using a method known as a “peel chain” a technique where large sums are broken into smaller amounts and sent through a series of wallet addresses to obscure the transaction path.
Victim Held Bitcoin Since 2017 With No Major Transactions
According to blockchain security firm Hacken, the victim had been holding the BTC since 2017 and had no prior record of large withdrawals. After the theft, the stolen funds were funneled through at least six instant cryptocurrency exchanges and eventually converted to Monero (XMR), a privacy coin renowned for its anonymity. This sudden activity triggered a 50% surge in Monero’s price due to its limited liquidity and high trade volume.
Over 300 Wallets and 20 Exchanges Used in Laundering Scheme
Investigators revealed that more than 300 individual wallets and at least 20 centralized exchanges played a role in laundering the stolen Bitcoin. Hacken’s proprietary monitoring system, Extractor, tracked the flow of roughly $284 million of the stolen funds through the peel chain method. As of now, only about $60 million remains within traceable channels.
Much of the Bitcoin was routed through lesser-known or low-reputation exchanges, including some transactions that passed through Binance. These tactics created significant challenges for law enforcement, making it nearly impossible to freeze assets swiftly due to jurisdictional and regulatory delays.
Hacken’s on-chain analyst Yehor Rudytsia noted that the attacker deliberately split the stolen BTC into hundreds of smaller portions across various platforms to avoid raising red flags and bypass detection systems.
Echoes of Previous High-Profile Crypto Thefts
Rudytsia also pointed out similarities between this incident and the 2024 theft of 4,064 BTC from a Genesis creditor. In both cases, delays in legal and regulatory response significantly hindered the chances of fund recovery. Authorities have now notified multiple exchanges in hopes of freezing any remaining traceable assets.
Conversion to Monero and Cross-Chain Transfers Complicate Investigation
The conversion of a large portion of the stolen BTC to Monero (XMR) has severely complicated recovery efforts. Monero’s privacy features, such as ring signatures and stealth addresses, make transactions virtually untraceable, significantly reducing the odds of tracking or reclaiming the stolen crypto.
Further complicating matters, some of the Bitcoin was also bridged to Ethereum and distributed across decentralized platforms. This cross-chain laundering strategy added multiple layers of anonymity by dispersing the funds across various blockchains and protocols, each with its own privacy mechanics.
No Links to Known Hacker Groups, But Attack Was Highly Organized
While high-profile groups like North Korea’s Lazarus Group have been responsible for past crypto heists, experts believe this attack was likely executed by an independent and highly organized criminal entity. The methods used in this case don’t match the known patterns of state-sponsored hackers.
ZachXBT confirmed that no direct links to known hacking groups have been found so far.
Security Experts Urge Enhanced Protection Measures
Cybersecurity professionals are warning crypto holders to take enhanced precautions. Recommended measures include using hardware wallets, enabling multi-signature verification, and rotating private keys regularly to guard against sophisticated social engineering attacks.
As cryptocurrency adoption continues to grow, so does the complexity of attacks. This record-breaking heist serves as a stark reminder of the importance of strong personal security in the digital finance world.
