# Bitcoin Holder Loses $91 Million to Social Engineering Attack ∞ Security

**Published:** 2025-09-18
**Categories:** Security

---

![A central metallic, ribbed mechanism interacts with a transparent, flexible material, revealing clusters of deep blue, faceted structures on either side. The neutral grey background highlights the intricate interaction between the components](https://incrypthos.com/wp-content/uploads/2025/09/Cross-Chain-Interoperability-Protocol-Unveiling-Encapsulated-Digital-Assets.jpeg)

![A spherical object showcases white, granular elements resembling distributed ledger entries, partially revealing a vibrant blue, granular core. A central metallic component with concentric rings acts as a focal point on the right side, suggesting a sophisticated mechanism](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-ledger-sharding-architecture-node-validation-mechanism.jpeg)

## Briefing

A high-value Bitcoin holder suffered a $91 million loss (783 BTC) on August 19, 2025, due to a sophisticated [social engineering attack](https://incrypthos.com/security/thorchain-founders-wallet-drained-via-sophisticated-social-engineering-attack/). Attackers impersonated crypto exchange and hardware wallet support to trick the victim into revealing sensitive credentials. The stolen funds were subsequently moved to a clean Bitcoin address and laundered via Wasabi Wallet, highlighting the persistent threat of human-factor vulnerabilities in digital asset security.

![The image presents a radially symmetrical, intricate structure composed of transparent blue, rod-like elements emanating from a central core, partially encrusted with a frosted, crystalline substance. Behind this detailed core, larger, angular silver and white geometric components form a structured outer layer, creating a sense of depth and complex machinery](https://incrypthos.com/wp-content/uploads/2025/09/Modular-DLT-Architecture-Staking-Mechanism-Validator-Node-Interoperability.jpeg)

## Context

Prior to this incident, the digital asset landscape has seen a surge in [social engineering](https://incrypthos.com/news/social-engineering/) and phishing attacks, often targeting individuals through impersonation of trusted entities like hardware wallet providers. These exploits leverage psychological manipulation rather than technical vulnerabilities in smart contracts, representing a significant and growing attack surface. The industry recorded over $2.1 billion in crypto-related losses in the first five months of 2025, with wallet compromises and phishing attacks being primary vectors.

![A sleek, metallic device with luminous blue internal elements is prominently displayed, showcasing its intricate design. The central focus is a square-shaped opening leading to a circular interface, suggesting a critical component or connection point](https://incrypthos.com/wp-content/uploads/2025/09/Decentralized-Protocol-Architecture-Driving-Smart-Contract-Execution-Mechanisms.jpeg)

## Analysis

The incident leveraged a social [engineering attack](https://incrypthos.com/security/thorchain-founders-wallet-drained-via-sophisticated-social-engineering-attack/) vector, where the victim was deceived by impostors posing as legitimate support personnel for a crypto exchange and a hardware wallet. This manipulation led the victim to unwittingly authorize a transaction, effectively surrendering control of their 783 BTC. The attacker then swiftly transferred the funds to a new Bitcoin address (bc1qyxyk) before utilizing Wasabi Wallet, a privacy-focused service, to obscure the transaction trail and complicate forensic tracing.

![A textured, white spherical object, resembling a moon, is partially surrounded by multiple translucent blue blade-like structures. A pair of dark, sleek glasses rests on the upper right side of the white sphere, with a thin dark rod connecting elements](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-oracle-protecting-immutable-digital-asset-ledger.jpeg)

## Parameters

- **Asset Compromised** ∞ [Bitcoin](https://incrypthos.com/news/bitcoin/) (BTC)

- **Amount Lost** ∞ $91 Million (783 [BTC](https://incrypthos.com/news/btc/))

- **[Attack Vector](https://incrypthos.com/security/multi-sig-wallet-drained-by-sophisticated-phishing-contract-attack/)** ∞ Social Engineering / Impersonation

- **Date of Incident** ∞ August 19, 2025

- **Affected Entity** ∞ Individual [Bitcoin Holder](https://incrypthos.com/insights/bitcoin-market-stabilizes-fragilely-above-key-holder-cost/)

- **Laundering Method** ∞ Wasabi [Wallet](https://incrypthos.com/news/wallet/)

![A close-up view in cool blue tones showcases a metallic chip bearing the Bitcoin symbol, centrally positioned on a complex circuit board. Numerous dark cables and various electronic components are intricately arranged around this core processing unit](https://incrypthos.com/wp-content/uploads/2025/09/bitcoin-asic-chip-decentralized-ledger-technology-mining-hardware.jpeg)

## Outlook

Users must adopt an “assume breach” mentality for all unsolicited communications, verifying authenticity through independent channels. Protocols should enhance [user education](https://incrypthos.com/news/user-education/) on phishing and social engineering tactics, alongside implementing multi-factor authentication and robust withdrawal safeguards. This incident reinforces the need for continuous vigilance against human-element exploits, which often bypass even the most secure technical infrastructure, demanding a shift towards comprehensive security awareness programs across the ecosystem.

![A highly detailed mechanical assembly is presented, showcasing a blend of polished silver components and vibrant blue, intricate structures. The foreground features concentric silver rings leading to a central textured band, which precisely engages with spoked blue elements, each adorned with directional arrow indicators](https://incrypthos.com/wp-content/uploads/2025/09/Decentralized-Consensus-Mechanism-Digital-Asset-Validation-Engine.jpeg)

## Verdict

**This $91 million social engineering exploit serves as a stark reminder that the human element remains the most critical vulnerability in the [digital asset security](https://incrypthos.com/news/digital-asset-security/) chain, demanding unyielding vigilance and advanced user education.**

Signal Acquired from ∞ <a href="https://cointelegraph.com/news/bitcoiner-loses-91m-social-engineering-attack-zachxbt?utm_source=incrypthos.com&utm_medium=referral&utm_campaign=noo-engine.com" target="_blank" rel="nofollow">cointelegraph.com</a>

## Glossary

<a href="https://incrypthos.com/security/thorchain-founders-wallet-drained-via-sophisticated-social-engineering-attack/" class="glossary-item-box">

## social engineering attack 

A targeted social engineering exploit, leveraging compromised communication channels, bypassed traditional wallet security, highlighting critical human-factor vulnerabilities. </a><a href="https://incrypthos.com/news/social-engineering/" class="glossary-item-box">

## social engineering 

Definition ∞ Social engineering is a non-technical method of influencing people to give up confidential information or perform actions that benefit the attacker. </a><a href="https://incrypthos.com/security/thorchain-founders-wallet-drained-via-sophisticated-social-engineering-attack/" class="glossary-item-box">

## engineering attack 

A targeted social engineering exploit, leveraging compromised communication channels, bypassed traditional wallet security, highlighting critical human-factor vulnerabilities. </a><a href="https://incrypthos.com/news/bitcoin/" class="glossary-item-box">

## bitcoin 

Definition ∞ Bitcoin is the first and most prominent decentralized digital currency, operating on a peer-to-peer network without central oversight. </a><a href="https://incrypthos.com/news/btc/" class="glossary-item-box">

## btc 

Definition ∞ BTC is the ticker symbol for Bitcoin, the first and most prominent decentralized digital currency. </a><a href="https://incrypthos.com/security/multi-sig-wallet-drained-by-sophisticated-phishing-contract-attack/" class="glossary-item-box">

## attack vector 

Attackers deployed a deceptive Etherscan-verified contract, leveraging the Safe Multi Send mechanism to bypass user scrutiny and drain over $3 million. </a><a href="https://incrypthos.com/insights/bitcoin-market-stabilizes-fragilely-above-key-holder-cost/" class="glossary-item-box">

## bitcoin holder 

Bitcoin's price shows delicate stability around its short-term holder cost, reflecting a market dominated by cautious sentiment. </a><a href="https://incrypthos.com/news/wallet/" class="glossary-item-box">

## wallet 

Definition ∞ A digital wallet is a software or hardware application that stores public and private keys, enabling users to send, receive, and manage their digital assets on a blockchain. </a><a href="https://incrypthos.com/news/user-education/" class="glossary-item-box">

## user education 

Definition ∞ User Education in the context of digital assets and blockchain technology refers to the provision of information and resources designed to inform individuals about the functionality, risks, and best practices associated with these technologies. </a><a href="https://incrypthos.com/news/digital-asset-security/" class="glossary-item-box">

## digital asset security 

Definition ∞ Digital Asset Security refers to the measures and protocols implemented to protect digital assets from theft, loss, or unauthorized alteration. </a>

**Tags:** [Cybercrime](https://incrypthos.com/news/cybercrime/), [Funds Laundering](https://incrypthos.com/news/funds-laundering/), [Social Engineering](https://incrypthos.com/news/social-engineering/), [Bitcoin Theft](https://incrypthos.com/news/bitcoin-theft/), [Wasabi Wallet](https://incrypthos.com/news/wasabi-wallet/), [User Security](https://incrypthos.com/news/user-security/)	

## Discover More

- 
### [HSBC and BNP Paribas Join Canton Foundation for Digital Asset Interoperability](https://incrypthos.com/adoption/hsbc-and-bnp-paribas-join-canton-foundation-for-digital-asset-interoperability/)
![A sculptural abstraction features interwoven, translucent forms in frosted white and deep gradient blue, embodying the intricate architecture of a decentralized network. These interlocking elements symbolize the complex interplay of blockchain protocols and consensus mechanisms facilitating cross-chain interoperability. The diffused light highlights the inherent transparency within a distributed ledger technology ecosystem, while the varying opacities suggest layers of data immutability and privacy within a robust Web3 infrastructure.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-network-interoperability-protocol-consensus-mechanism-visual.jpeg)

This strategic integration by HSBC and BNP Paribas into the Canton Network enhances cross-chain interoperability for tokenized assets, streamlining institutional digital finance workflows.

- 
### [Multi-Sig Wallet Drained by Sophisticated Phishing Attack on Request Finance](https://incrypthos.com/security/multi-sig-wallet-drained-by-sophisticated-phishing-attack-on-request-finance/)
![A metallic, grid-patterned sphere, symbolizing a decentralized network, stands against a deep blue, bokeh-filled backdrop. A luminous white circle at its core signifies a critical function, an oracle feeding verified off-chain data into a blockchain. Each reflective segment represents nodes within a distributed ledger technology DLT ecosystem, processing cryptographic hashing for secure transactions. The blurred background evokes interconnected peer-to-peer P2P infrastructure supporting digital assets and smart contract execution.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-oracle-network-data-aggregation-sphere.jpeg)

Attackers leveraged fake Etherscan-verified contracts and Safe Multi Send to obscure malicious approvals, directly compromising user assets.

- 
### [Plasma Launches Mainnet Beta with $2 Billion Stablecoin Liquidity](https://incrypthos.com/web3/plasma-launches-mainnet-beta-with-2-billion-stablecoin-liquidity/)
![A sophisticated, translucent blue network structure dominates, depicting intricate pathways for digital asset transfer. Metallic cylindrical connectors, some featuring helical wraps, secure the junctions, symbolizing robust cryptographic primitives and secure protocol interconnections. Within the main transparent conduit, a vibrant blue fluid suggests active transaction flow and data packets moving between decentralized network nodes. This abstract visualization underscores the complex infrastructure supporting blockchain operations, highlighting liquidity pathways and the underlying consensus mechanism essential for scalable and interoperable smart contracts.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-network-architecture-visualizing-blockchain-data-flow.jpeg)

Plasma's mainnet beta introduces fee-free USD₮ transfers and a high-throughput BFT consensus, significantly enhancing stablecoin capital efficiency across DeFi.

- 
### [Bitcoin Holds Steady amid ETF Inflows and Fed Rate Cut Hopes](https://incrypthos.com/markets/bitcoin-holds-steady-amid-etf-inflows-and-fed-rate-cut-hopes/)
![Blue glowing lines and points form a complex, multi-layered digital architecture, rising from a dark grey base. This illustrates robust blockchain architecture, emphasizing interconnected node network and transaction validation pathways. It depicts core infrastructure for smart contract execution and distributed ledger technology. Luminous elements suggest cryptographic hashing and on-chain data flow, crucial for data immutability and network scalability. A consensus mechanism facilitates block propagation across shard chains.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-ledger-network-topology-visualizing-on-chain-transaction-flow.jpeg)

Bitcoin's price stabilizes around $115,000, supported by continued institutional investment and market anticipation of a Federal Reserve interest rate cut.

- 
### [Fed Rate Cut Anticipation Fuels Crypto Market Optimism](https://incrypthos.com/markets/fed-rate-cut-anticipation-fuels-crypto-market-optimism/)
![Intricate Bitcoin ASIC miner architecture features a prominent metallic 'B' symbol atop layered blue and silver components. Deep blue hexagonal recesses within the 'B' suggest advanced computational power or liquid cooling for optimal hash rate performance. Black data transmission conduits interweave through the structure, connecting various blockchain node elements. Translucent blue panels highlight the complex decentralized network infrastructure, emphasizing transaction validation and cryptographic hashing capabilities essential for digital asset security and Proof-of-Work consensus. This represents robust DLT architecture.](https://incrypthos.com/wp-content/uploads/2025/09/bitcoin-blockchain-asic-hardware-decentralized-network-processing-unit.jpeg)

Crypto investors are keenly watching the Fed's expected rate cut tomorrow, which typically boosts risk assets like Bitcoin and altcoins.

- 
### [PromptChain: Decentralizing AI Prompt Management as Digital Assets](https://incrypthos.com/research/promptchain-decentralizing-ai-prompt-management-as-digital-assets/)
![A high-resolution, stylized communication satellite, predominantly white with intricate structural details and prominent blue solar panels, extends horizontally. A blurred background satellite suggests a larger network. This advanced node infrastructure represents a critical component for Decentralized Physical Infrastructure Networks DePIN, facilitating global Web3 connectivity. It functions as a robust data availability layer, enhancing censorship resistance and enabling off-chain computation for distributed ledger technology, ensuring network resilience and future interoperability.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-node-infrastructure-enabling-web3-data-availability-layer.jpeg)

A novel Web3 architecture transforms AI prompts into verifiable, tradable digital assets, empowering creators and fostering an open, censorship-resistant ecosystem.

- 
### [Bitcoin Withstands Major Investor Distribution](https://incrypthos.com/insights/bitcoin-withstands-major-investor-distribution/)
![A textured white sphere, a foundational digital asset or block, rests on a reflective surface, symbolizing a validator node. Behind it, polished metallic rods, representing network protocols or data channels, guide a translucent trough. Within this trough, a vibrant cascade of white and deep blue granular material, indicative of token distribution or transaction throughput, flows dynamically. This abstract representation evokes the intricate mechanics of a decentralized ledger, illustrating cryptographic primitives and smart contract execution within a scalable blockchain architecture, supporting Web3 infrastructure.](https://incrypthos.com/wp-content/uploads/2025/09/algorithmic-token-distribution-across-decentralized-network-protocol-channels.jpeg)

Despite a large investor offloading 80,000 BTC, the market's resilience suggests strong underlying holder confidence.

- 
### [Circle Integrates Native USDC and CCTP V2 on Hyperliquid’s HyperEVM](https://incrypthos.com/web3/circle-integrates-native-usdc-and-cctp-v2-on-hyperliquids-hyperevm/)
![A pristine white spherical node, central to a complex mechanism, features a glowing blue circular interface, signifying active transaction validation. This core is partially encased by a dynamic, translucent blue cryptographic primitive layer, suggesting robust digital asset security and immutability. Surrounding mechanical components, in white and dark metallic tones, represent the underlying blockchain infrastructure and distributed computing network. The composition emphasizes a futuristic consensus mechanism at work, protecting the integrity of a decentralized ledger.](https://incrypthos.com/wp-content/uploads/2025/09/dlt-node-cryptographic-encapsulation-decentralized-protocol-architecture.jpeg)

This integration streamlines cross-chain USDC transfers on Hyperliquid's high-performance blockchain, enhancing capital efficiency and institutional DeFi access.

- 
### [Bitcoin Whales Accumulate: Is a Bullish Breakout Imminent](https://incrypthos.com/insights/bitcoin-whales-accumulate-is-a-bullish-breakout-imminent/)
![A futuristic, metallic sphere, resembling a sophisticated decentralized protocol with orbiting layer 2 solutions, actively processes on-chain data. From its core, a dynamic expulsion of granular white unprocessed data streams and numerous crystalline blue tokenized units or encrypted data packets occurs. This illustrates intense transaction processing and digital asset issuance within a blockchain node, emphasizing network scalability and rapid distribution characteristic of distributed ledger technology via a robust consensus mechanism.](https://incrypthos.com/wp-content/uploads/2025/09/decentralized-ledger-architecture-disseminating-crypto-asset-blocks.jpeg)

Mid-sized Bitcoin holders are rapidly accumulating, pushing supply into deficit and historically signaling a significant price surge.

**Tags:** [Bitcoin Theft](https://incrypthos.com/news/bitcoin-theft/), [Cybercrime](https://incrypthos.com/news/cybercrime/), [Digital Assets](https://incrypthos.com/news/digital-assets/), [Funds Laundering](https://incrypthos.com/news/funds-laundering/), [Hardware Wallet](https://incrypthos.com/news/hardware-wallet/), [Private Key](https://incrypthos.com/news/private-key/), [Social Engineering](https://incrypthos.com/news/social-engineering/), [User Security](https://incrypthos.com/news/user-security/), [Wallet Compromise](https://incrypthos.com/news/wallet-compromise/), [Wasabi Wallet](https://incrypthos.com/news/wasabi-wallet/)

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**Original URL:** https://incrypthos.com/security/bitcoin-holder-loses-91-million-to-social-engineering-attack/
