The $330 million Bitcoin hack targeted an elderly U.S. resident, highlighting serious concerns in crypto security. Funds were swiftly laundered through multiple exchanges and converted to Monero, causing significant market reactions. It’s now the fifth-largest hack in crypto history, sparking fresh debates over fraud prevention and transaction safety.
In a shocking announcement, ZachXBT has confirmed that the recent $330 million Bitcoin hack targeted an elderly individual in the United States. This breach, which is now dubbed the fifth-largest in crypto history, has left the community buzzing with concern over security measures and fraud prevention. Reports surfaced on Sunday, leading to immediate alarm regarding the vulnerabilities within crypto trading platforms.
The situation first came to light when ZachXBT noted suspicious activities on April 28, 2025, involving a staggering 3,520 Bitcoin valued at around $330.7 million. Following further investigation, it was revealed that the victim, who had maintained more than 3,000 BTC since 2017, had not made any significant transactions previously, adding to the shock of this massive fraud.
Once the theft was executed, the hackers swiftly moved the stolen Bitcoin through more than six exchanges, converting a significant portion into Monero—a cryptocurrency prized for its privacy features. This sudden surge in Monero activity caused its price to spike by 50%, highlighting how quickly the market can react to unusual trades amidst limited liquidity.
The technique used for laundering the stolen Bitcoin involved something known as the peel chain method. In simple terms, this means splitting large amounts into smaller fractions to obscure their origins and make tracing difficult. Hacken’s Extractor tool tracked around $284 million of the stolen Bitcoin through these convoluted financial trails, which ultimately dwindled to about $60 million across low-reputation exchanges after numerous redistributions.
Rudytsia, an on-chain researcher from Hacken, stated that over 300 wallets and more than 20 services, including major exchange Binance, were linked to this elaborate laundering scheme. As the gravity of the theft sinks in, industry experts stress that this incident could trigger a wider discussion on the urgent need for improved security protocols in cryptocurrency transactions. Overall, this hack has certainly sent tremors throughout the crypto landscape, raising many eyebrows about the future of digital currency commerce.
