Elderly American identified as victim in $330m Bitcoin theft: ZachXBT

An elderly American has been identified as the victim of a $330.7 million Bitcoin theft—one of the largest crypto heists on record—according to blockchain investigator ZachXBT. 

The attack, which occurred on April 28, involved the theft of 3,520 BTC through a sophisticated social engineering scheme, triggering a ripple effect across crypto markets, including a sudden spike in the price of the privacy coin Monero (XMR).

The stolen Bitcoin (BTC) was rapidly funneled through more than 300 wallets and laundered across 20 or more exchanges, with Monero playing a key role in obscuring the transaction. 

The spike in demand for XMR coincided with this laundering activity, sending its price surging over 50% — from $228 to $347 — before settling back to $295.

While early theories attributed the price movement to potential upgrades or renewed interest in privacy coins, ZachXBT’s investigation suggests the rally was more likely tied to the movement of stolen funds. 

Targeted attack 

He confirmed on X that the funds were not taken by a known hacking group, such as those affiliated with North Korea, but rather through a targeted attack on an individual with significant Bitcoin holdings.

“You can fingerprint the type of attack/attacker pretty well if you spend all of your time tracking illicit activity onchain,” ZachXBT said, noting the theft had all the hallmarks of a highly coordinated social engineering operation.

The case now ranks as the fifth-largest crypto hack in history, highlighting the ongoing vulnerability of long-time crypto holders to increasingly sophisticated scams. Law enforcement involvement has not been confirmed, and the attacker’s identity remains unknown.