Crypto Heist Shocks Market: $330M in Bitcoin Stolen from Elderly American – Here’s How It Unfolded
Crypto markets were rocked by news of a colossal Bitcoin theft, with $330.7 million in BTC siphoned from an elderly U.S. citizen in one of the largest digital asset heists ever recorded. The incident has thrown a spotlight on the persistent risks facing long-term cryptocurrency holders, despite ongoing advancements in DeFi security and blockchain technology.
The hack, which took place on April 28, saw 3,520 BTC drained in a highly coordinated social engineering attack. The culprits leveraged insider tactics, manipulating the victim into revealing access, which subsequently triggered significant movements across multiple markets — notably, a price surge in privacy coin Monero (XMR).
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Details from on-chain analysis show the stolen Bitcoin was quickly split between more than 300 wallets, and funneled through at least 20 different exchanges. Monero became a preferred tool to obscure the digital trail, coinciding with its own price catapulting over 50% — jumping from $228 to $347 before settling back near $295.
This laundering blitz ran parallel to surging interest in privacy solutions among crypto token investors. The Monero price rally — initially attributed to ecosystem upgrades — was, according to blockchain sleuths, more closely tied to the laundering of the stolen BTC. For context on how privacy and security trends are impacting crypto investments, review our guide to the best crypto wallets for safeguarding your digital assets: find essential security strategies for digital assets.
Despite early suspicions of North Korean-affiliated hackers, investigators have confirmed this was a targeted attack against a wealthy individual rather than a nation-state group. Experts note that advanced social engineering remains a leading threat, especially for holders with substantial cryptocurrency reserves. For a broader look at emerging DeFi threats, see: why crypto security is more crucial than ever in 2025.
The scale of this theft places it as the fifth largest crypto hack in history — underscoring persistent vulnerabilities, even as blockchain analytics and compliance improve. As law enforcement agencies step up their focus on digital asset crimes, industry analysts warn that the sophistication of social engineering attacks is growing faster than many security solutions can evolve.
The identity of the attackers is still unknown, and the incident stands as a stark warning to both new and veteran crypto investors: robust security, vigilance, and the use of cold wallets remain key defenses against sophisticated heists.