Key Takeaways
- $7 million in stolen Bitcoin was frozen with help from Binance.
- The $330 million theft targeted an elderly U.S. Bitcoin holder via a social engineering scam.
- Most of the funds were laundered into Monero, making recovery efforts difficult.
Roughly $7 million in stolen Bitcoin has been frozen following efforts by blockchain investigator ZachXBT and Binance, marking a partial recovery in what is now one of the largest single-wallet thefts in Bitcoin history.
Details of the theft
The incident began with the theft of 3,520 BTC—worth approximately $330 million at the time—from a longtime U.S. Bitcoin holder.
According to ZachXBT, the victim is an elderly American targeted in a sophisticated social engineering scam involving fake websites and deceptive voice calls.
The attackers manipulated the victim into surrendering login credentials and private keys.
Laundering through Monero
The stolen Bitcoin was quickly routed through at least six exchanges and partially laundered into Monero, a privacy coin that obscures transactions and wallet balances.
Suspects identified
On April 30, ZachXBT named two suspects: a Somalian national operating under the aliases “Nina” or “Mo,” allegedly running a call scam operation in Camden, UK, and an accomplice known as “W0rk.”
Both have since deleted their social media profiles.
Collaborative efforts in recovery
ZachXBT credited Binance’s security team, the pseudonymous investigator tanuki42, and Cryptoforensic Investigators for helping intercept and freeze $7 million in stolen funds.
While Binance has not publicly commented, it has a track record of collaborating with law enforcement in such cases.
Ongoing investigations
The majority of the stolen Bitcoin remains unaccounted for after being laundered through Monero.
Investigations are ongoing, with ZachXBT calling the case “deeply upsetting,” particularly given the victim’s status as an early Bitcoin supporter.
