A Single Investor Lost $91M in Bitcoin to a Fake Support Scam

An investor lost 783 BTC, worth about $91.4 million, after a fraudster impersonating a hardware wallet support agent gained access to their wallet, Coindesk reported. The theft, disclosed by blockchain investigator ZachXBT, is one of the largest individual social engineering scams in recent months.

Funds Routed Through Wasabi Wallet

The incident occurred on August 19. The attacker tricked the victim into handing over wallet credentials, allowing them to transfer the Bitcoin. The funds were then moved through Wasabi Wallet, a privacy tool commonly used to hide transaction trails.

The case adds to a series of major crypto scams in 2025. Investors lost $3.1 billion to hacks and fraud in the first half of the year, with social engineering becoming an increasingly common tactic.

The theft also comes exactly one year after the $243 million Genesis creditor hack, which led to multiple arrests in California earlier this year. Both incidents underline how attackers continue to exploit weaknesses beyond technical security.

Security Concerns Persist

The $91 million loss highlights the ongoing risks facing crypto investors, even as firms improve technical safeguards. Analysts warn that impersonation and phishing schemes remain difficult to prevent, with scammers increasingly targeting users through trusted support channels.

North Wales Police has warned cryptocurrency holders to remain vigilant after a victim was defrauded of £2.1 million in Bitcoin. The force described the incident as a “sophisticated” scam and urged the public to be cautious when approached with unexpected requests involving digital assets.

Read more: BTC Remains Under Trendline; North Wales Police Investigate £2.1M Bitcoin Scam

The scam unfolded as criminals impersonated senior UK police officers and fabricated a story about a supposed security breach. The victim was told that an arrested individual’s phone contained personal identification documents linked to them, prompting them to hand over their Bitcoin.

The warning comes as Bitcoin faces selling pressure in the market. BTC/USD has been trending lower along a descending trend line on the hourly chart, with horizontal support observed around 112,800. A drop below this level could add to downside momentum, while a breakout above the trend line may draw in intraday buyers.