Overview

• The theft occurred on Aug. 19 and was disclosed on Aug. 21 by on-chain investigator ZachXBT, who traced the initial movements of the funds.
• Attackers impersonated a cryptocurrency exchange and a hardware wallet provider’s support to obtain credentials through texts and related social engineering tactics.
• The stolen Bitcoin was routed into Wasabi Wallet and split across addresses as laundering began, with no suspects or arrests reported in this case.
• Binance cautioned users about fraudulent SMS messages and said it does not contact customers via phone or text, while the impersonated firms were not identified.
• The incident aligns with a broader 2025 rise in social engineering losses, echoing a $243 million impersonation theft a year earlier that later saw arrests.