Elderly US Resident Falls Victim to $330M Bitcoin Scam, Ranking as Fifth-Largest Crypto Hack in History

An elderly person in the United States is the victim of a $330 million Bitcoin scam carried out through social engineering, according to reports by on-chain analysis expert, ZachXBT.

The theft, which is now being confirmed by several reports, is quickly becoming one of the biggest in crypto history, especially after another huge theft was reported on Sunday.

This theft is now being confirmed by several reports. It is also being reported that the crypto theft is being touted as the fifth-largest in crypto history.

There has been a lot of shock amongst members of the crypto community who are reacting to this news. The theft is also sure to raise more concerns about crypto scams and how to prevent them.

A suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)Theft addressbc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55gShortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike…

How the Bitcoin Hack Was Carried Out

In a previous report, on April 28, 2025, ZachXBT shared that a suspicious movement was spotted. More details have now emerged regarding this theft.

An elderly individual in the U.S. who had been holding more than 3,000 BTC since 2017, without engaging in any significant transactions, was recently a victim of a complete social engineering theft.

According to the reports, immediately after the theft was completed, they quickly moved the crypto through over six crypto exchange platforms and converted it into Monero, a privacy-focused cryptocurrency.

The large-scale swap caused Monero’s price to spike by 50% due to limited liquidity. Afterwards, they further laundered the stolen Bitcoin using a peel chain method.

In simpler terms, they broke down the large amounts into smaller parts to disperse the trail. Extractor, a tool developed by Hacken, tracked $284 million worth of BTC through these chains, which reduced to about $60 million after repeated redistributions across low-trust crypto exchanges.

One of the on-chain researchers at Hacken, known as Rudytsia, confirmed that more than 300 wallets and over 20 services, including Binance, participated in the transactions.