Blockchain detective ZachXBT reveals that a coin holder experienced a suspected hardware wallet social engineering attack in mid-January, losing over $282 million worth of Litecoin and Bitcoin in one go.
(Background: TrueBit protocol suspected hacking! 8,535 ETH transferred abnormally, $TRU instantly cut in half)
(Additional context: North Korean hackers set a record in 2025 by stealing $2.02 billion in cryptocurrency, with a money laundering cycle of about 45 days)
Independent on-chain investigator ZachXBT pointed out that around 11:00 PM UTC on January 10, a large-scale crypto asset theft occurred. A victim was suspected of falling for a social engineering scam related to hardware wallets, losing over $282 million worth of Litecoin (LTC) and Bitcoin (BTC).
Based on on-chain information compiled by this investigator, after the assets were stolen, the attacker began converting large amounts of LTC and BTC into Monero (XMR) through multiple “instant exchange” services, causing XMR prices to spike significantly in a short period.
Meanwhile, some Bitcoin was transferred across chains via Thorchain to networks like Ethereum, Ripple, and Litecoin, increasing the difficulty of tracking.
The stolen addresses exposed in this incident include approximately 2.05 million LTC and 1,459 BTC, marked as:
BTC: bc1qluxw46r55wf3dnk9c652vrt4duadm3hpuktf86
BTC: bc1qpsmh26ja0fzzf286zulmt9eywujc2pggj40wzm
LTC: ltc1qly43c2prj4c2e85dcspzpjd36jnapnenldnr70
This event demonstrates that even using hardware wallets, which are considered relatively secure self-custody tools, large assets can still be transferred and laundered quickly if targeted by sophisticated social engineering attacks during authentication, private key management, or customer support processes. Privacy coins and cross-chain mechanisms further enhance anonymity.
For professional and institutional investors, relying solely on “cold wallets” is no longer sufficient. Designing stricter manual procedures and permission controls will be a key focus in subsequent discussions of such incidents.
(##
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Court Reaffirms Bitcoin’s Status as Property but Limits Tort Claims in $172M Case
A United Kingdom High Court’s recent ruling has clarified the legal status of bitcoin, stating that while it is considered property, it cannot be subjected to traditional legal claims applicable to physical goods.
The $172 Million Bitcoin Dispute
In a landmark ruling, the High Court of Justice cl
Coinpedia1h ago
BTC Falls 0.72% in 15 Minutes: On-chain Large Inflows to Exchanges Amplify Decline as Long Positions Liquidate
**March 18, 2026, 18:45-19:00 (UTC)**: BTC recorded a -0.72% return rate within 15 minutes, with price fluctuating between 70,946.6 and 71,615.2 USDT, reaching an amplitude of 0.93%. Market attention increased during this period with active trading volume. Short-term selling pressure dominated the market, causing significant short-term volatility.
The primary driver of this price movement was the concentration of large on-chain BTC inflows into mainstream exchanges. Two large transfers totaling 2,150 BTC were detected flowing into exchanges during the 18:45-19:00 period, and
GateNews1h ago
Bitcoin Hits $69K Triggering $192M Liquidations As Traders Eye Next Move
_Bitcoin moved to $69K liquidated $103M in short positions within a $192M total market wipeout._
_Key liquidity clusters now sit between $66K–$69K and $71K–$74K creating a balanced market setup._
_Traders monitor whether BTC holds above $69K or targets lower liquidity near $66K._
Bitcoi
LiveBTCNews1h ago
