An elderly individual in the US has fallen victim to a $330 million Bitcoin theft, marking it as the fifth-largest hack in cryptocurrency history. The attack, reported on April 30, 2025, utilized sophisticated social engineering tactics to access the victim's wallet, with 3,520 Bitcoin transferred on April 28. The stolen funds were immediately laundered through over 300 wallets and more than 20 exchanges, employing a method called 'peel chain' to carve the amounts into smaller increments for evasion of detection. Experts noted the complexity of the laundering process, with subsequent transactions moving into privacy-focused cryptocurrency Monero, making tracing the funds nearly impossible. The victim had maintained their Bitcoin investments since 2017 without prior significant transactions. The incident highlights the risks faced by individuals who may not be well-versed in cryptocurrency security, emphasizing the need for protective measures like cold storage and regular key rotation amidst increasing cyberattacks. Investigators continue to engage with exchanges to potentially recover the stolen assets.

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