News 
April 30, 2025 
3 min. 
Bitcoin theft in the U.S. has taken a new turn as on-chain investigator ZachXBT revealed the identity of a victim connected to the massive heist. The scammers siphoned off 3,520 BTC, worth nearly $330 million, from the victim’s wallet and transferred it to another address.
Elderly U.S. Victim Targeted in $330 Million Bitcoin Theft
Blockchain investigator ZachXBT identified the victim behind the $330 million Bitcoin theft as an elderly U.S. resident. According to his findings, a social engineering scam enabled the theft, a tactic where attackers manipulate individuals into giving up sensitive information, often through fake emails or phone calls.
The scammers transferred the stolen Bitcoin from a wallet containing a significant amount of cryptocurrency.
They deliberately targeted the victim, who likely didn’t realize the manipulation was taking place. ZachXBT raised alarms over how easily the attackers accessed personal details, emphasizing the growing sophistication of such crypto-related fraud.
Unmasking the Social Engineering Behind the Bitcoin Theft
Social engineering scams continue to pose a major threat in the crypto space, where fraudsters deceive victims into granting access to their digital wallets. In this case, investigators believe the elderly victim fell for a phishing scheme, possibly through fake emails or phone calls. These scams are hard to detect because they exploit users’ trust in technology.
ZachXBT noted that the scammers quickly moved the stolen funds, spreading the Bitcoin across more than six platforms. They then converted it into Monero, a privacy-focused coin designed to obscure transaction history.
The timing raised suspicions. The Monero conversion occurred shortly after a sharp price increase, suggesting a well-coordinated laundering plan.
Investigation Ongoing as Crypto Security Risks Rise
The Bitcoin theft investigation remains active, with ZachXBT closely tracking the case. He pointed out that the stolen BTC originated from suspicious sources, raising questions about how the funds were initially acquired. The move to Monero clearly aimed to conceal the money trail.
While phishing attacks have surged across the crypto industry, the scale of this theft places it among the largest in recent memory. It also stands as one of the biggest single Bitcoin losses, both in volume and value.
This high-profile breach adds to mounting concerns about crypto security. In 2025 alone, millions have already been lost to similar scams, despite active crackdowns. The U.S. Secret Service and Canadian authorities recently dismantled a $4.3 million Ethereum phishing operation. Meanwhile, security firm Immunefi reports that cybercriminals stole over $92 million in crypto this month alone.
