#BinanceAlphaAlert

Massive $331M Bitcoin Heist: Elderly American Targeted in Sophisticated Social Engineering Attack

In a shocking development reported by blockchain investigator ZachXBT, approximately 3,520 $BTC — valued at around $331 million — have been stolen through a sophisticated social engineering scheme. The victim has been identified as an elderly individual based in the United States.

The stolen Bitcoin has already begun moving across at least six flash exchange platforms, with large portions converted into Monero (XMR), a privacy-centric cryptocurrency. This rapid laundering process has triggered a noticeable short-term spike in XMR’s price on major markets.

Preliminary investigations suggest that the origin of the stolen funds — linked to the compromised address — exhibits highly suspicious characteristics, raising further concerns about potential prior illicit activity.

The incident highlights the growing threat posed by social engineering attacks in the crypto space, especially targeting vulnerable individuals. Analysts warn that the laundering of such a massive amount could have broader implications for both Bitcoin and Monero ecosystems in the coming weeks.