- ZachXBT revealed that the $330 million Bitcoin theft targeted an elderly U.S. resident, with the stolen funds laundered through over six exchanges and swapped into Monero.
- Hacken’s Extractor tool tracked the laundering process, revealing that over 300 wallets and 20+ services, including Binance, were used to move and hide the stolen crypto.
ZachXBT has revealed that an elderly person in the United States is the victim of a $330 million Bitcoin scam carried out through social engineering.
This massive theft, reported on Sunday, is now ranked as the fifth-largest crypto hack in crypto history. There’s been a lot of shock amongst members of the crypto community, and it has raised serious concerns about security and fraud prevention in the space.
How the Bitcoin Hack Was Carried Out
ZachXBT first reported a suspicious movement on April 28, 2025, that involved 3,520 Bitcoin, valued at $330.7 million. In the early hours of today, he reported more details, stating that the funds were stolen from an elderly US resident who had held more than 3,000 BTC since 2017, with no prior record of large transactions.
According to the details, 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.
The stolen Bitcoin was laundered using a peel chain method, which, in basic terms, involves breaking large amounts into smaller parts in order to hide the trail.
Hacken’s tool, Extractor, tracked $284 million worth of BTC through these chains, which reduced to about $60 million after repeated redistributions across low-trust crypto exchanges. Rudytsia, one of the on-chain researchers at Hacken, confirmed that more than 300 wallets and over 20 services, including Binance, were involved in the transactions, according to Cointelegraph.