An elderly American has fallen victim to a $330 million Bitcoin scam, marking one of the largest crypto thefts ever. On April 28, 2025, a cunning attacker used social engineering tactics to trick the victim into handing over access to a wallet holding 3,520 Bitcoin, valued at $330.7 million.
Senior Citizen Falls for Crypto Scam
The attacker exploited the victim’s trust through advanced social engineering, likely posing as a trusted figure or using fake communications to gain wallet access. On-chain investigator ZachXBT flagged the suspicious transfer on April 28, noting the funds were split via “peel chains,” a technique used to hide their trail.
The stolen funds, held since 2017, were immediately laundered through over 300 wallets and 20 exchanges. A significant portion of the stolen funds was converted to Monero, a virtual asset known for its privacy features that effectively obscure transaction histories, causing its price to surge 50%. The heist, now the fifth-largest in crypto history, exposes the growing danger of scams targeting vulnerable individuals.
Recent reports have indicated that Bitcoin was transferred through multiple exchanges and subsequently exchanged. The prolonged inactivity of the wallet suggests that the elderly individual may have been unaware of the asset’s value or may not have employed modern security measures, making them prone to exploitation by advanced cybercriminals.
Rising Cases of Crypto Scams
This theft has caused some disturbance in the crypto community, highlighting the grim reality that everyone, even seemingly advanced crypto exchanges, is vulnerable to digital fraud. Blockchain security firm Scam Sniffer revealed a new risk that every internet user who wants to access Soneium’s official website or blockchain could fall victim to—a sponsored Google advertisement designed to resemble Soneium’s website.
Meanwhile, a trader recently fell victim to a phishing scam, losing a shocking $1.43 million. As digital currencies like Bitcoin soar, scammers are devising various methods to strike harder. The Monero price spike from this heist underscores how large-scale thefts can disrupt markets. Regulatory scrutiny is intensifying, with calls for better user protections as scams surge.
In a related development, the FBI’s Operation Level Up, launched to combat crypto fraud, has saved $285 million since January 2024, offering hope for stronger defenses against such devastating losses.
So far, no US law enforcement agency has publicly acknowledged an investigation. However, the use of regulated exchanges and the scale of the crime would likely trigger federal attention.
