It has been revealed who the person is that lost 330 million Dollars worth of Bitcoin in recent days and how they had their holdings stolen!

According to blockchain researcher ZachXBT, a large Bitcoin theft involving over 330 million dollars in BTC has been confirmed to be the result of a targeted social engineering scam against an elderly American.

Social engineering theft is often the result of a phishing scam in which the perpetrator uses malicious emails or links to obtain the necessary information and credentials to access an individual’s accounts or, in this case, their digital wallet.

The incident involving the unauthorized transfer of approximately 330.7 million dollars worth of 3,520 BTC at rank ( occurred on April 28. A well-known chain analyst, ZachXBT, stated that the attacker used social engineering tactics common among hackers who exploit crypto-related private databases such as exchanges and services to gain access to the victim’s wallet.

After the theft, the stolen BTC was quickly laundered through more than six instant trading platforms and converted to Monero, a privacy-focused cryptocurrency known for masking the identities of senders and receivers, )XMR(. This coordinated move led to a 50% increase in the price of XMR, highlighting the coin’s low liquidity and susceptibility to large trades.

ZachXBT said, “There is something notable in the transfer of over 3,520 BTC that occurred on Monday,” and added: “The timing of the laundering process and XMR’s market movements likely indicate a high level of planning, possibly in conjunction with coordinated activities in the derivatives market.”