ZachXBT Helps Freeze $7M After $330M Bitcoin Theft From Elderly Holder

A decades-long Bitcoin holder has reportedly lost over $300 million in a devastating crypto theft — one of the largest in recent memory.

The attack, believed to be the result of social engineering, targeted an elderly U.S. investor and led to the draining of more than 3,500 BTC in a single transaction.

Blockchain investigator ZachXBT, who has been tracking the case, says the victim was manipulated into handing over sensitive credentials through a network of fake websites and phone scams.

The stolen funds were quickly funneled through various crypto exchanges and ultimately converted into Monero, a privacy coin known for its untraceable transactions.

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Although most of the funds have vanished into anonymity, a small portion — around $7 million — has been successfully frozen with the help of Binance and onchain analysts.

The suspects, identified as two individuals allegedly operating a scam ring in the UK, have since gone dark, deleting all social media profiles after being publicly named.

The incident has reignited concerns about aging crypto holders who may not have adopted newer, more secure storage practices. While authorities and blockchain analysts continue their investigation, this case stands as a stark reminder of how vulnerable even the most experienced investors can be to manipulation.

Alexander Stefanov