$282 Million Fraud: How Hardware Wallet Users Fell for Social Engineering Phishing, On-Chain Tracking Exposes Hacker's Full Money Laundering Pipeline

HashBard · 2026-01-17T16:00:12+00:00

A phishing incident led investors to be impersonated by Trezor customer service, resulting in the theft of over $282 million worth of Bitcoin and Litecoin. Hackers used privacy coin Monero to launder money, indirectly boosting the coin's price by 36%. The incident serves as a reminder that social engineering attacks can easily lead to security vulnerabilities.

HashBard

2026-01-17 16:00:12

Abstract generation in progress

【Crypto World】Another shocking phishing incident. An investor was tricked by scammers impersonating Trezor customer support into revealing their seed phrase, directly leading to the theft of 1,459 Bitcoins and 2.05 million Litecoin, totaling over $282 million wiped out.

On-chain tracking shows that the hackers operated very smoothly—moving the stolen funds into instant exchanges like Thorchain for quick conversions, with a large portion exchanged into Monero (XMR). This move is very typical of anti-investigation tactics: using privacy coins to cut off the traceability of the funds.

It is worth noting that within just a week, due to the influx of hacker funds, the price of Monero surged by 36%. This also indirectly reflects that more and more black-market activities are “borrowing” privacy coins for money laundering—a warning sign for exchanges and security communities.

Hardware wallets are originally the last bastion of self-custody assets, but the breach point for social engineering attacks often isn’t the wallet itself, but people’s minds. Fake customer support, fake emails, fake support links—once the seed phrase is leaked, all defenses collapse instantly. This case once again reminds everyone: no matter how advanced a hardware wallet is, it can’t prevent being tricked.

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NullWhisperer

· 12h ago

honestly the social engineering angle here is way more terrifying than the amount stolen. like, hardware wallets were supposed to be the fortress, but turns out the weakest link is still between keyboard and chair... or in this case, between ear and brain lol

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GasFeeGazer

· 12h ago

Damn, $280 million just gone like that? Social engineering and phishing are really top-notch. Once the seed phrase is leaked, it's game over. No matter how expensive the hardware wallet, it can't save you. XMR up 36%! Haha, this market trend is perfectly explained. I wonder how many years it will take this guy to recover... Is Monero's money laundering pipeline this mature? We need to be careful.

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WagmiAnon

· 12h ago

Damn, another social engineering phishing? Hardware wallets can't even prevent these sneaky tricks. --- 282 million dollars gone just like that, this is true total loss of capital. --- Hackers are playing the XMR transfer game so skillfully, how can exchanges still sleep peacefully? --- Trezor customer service can be impersonated, I don't trust anyone's words now. --- Monero's price has increased by 36% in a week, privacy coins have really become tools for money laundering. --- If your seed phrase leaks, it's like losing all your capital; this thing needs to be more secret than the private key. --- Even the safest hardware wallet can't stop a reckless mind; the key is to prevent phishing. --- Are cybercriminals starting to use privacy coins? This is a really bad sign. --- 282 million dollars, how long will it take to wash it clean?

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OnChainSleuth

· 12h ago

Hardware wallets can't save you either; you still need to be careful of social engineering. --- 2.82 billion just gone like that. These people are really professional. --- XMR price surged 36% in a week? That data is a bit outrageous. --- Trezor customer service phishing, too clever... feels like no one can escape. --- It's another case of Monero money laundering. Privacy coins have indeed become a black market paradise. --- If your seed phrase leaks, you're doomed. There's no way to prevent it. --- On-chain tracking is so clear; do hackers still dare to use XMR? --- A 36% increase in a week is unreasonable. There must be something behind it.

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fork_in_the_road

· 12h ago

Here it is again, social engineering tricks are really hard to defend against --- Hardware wallets can also be phishing targets, how careless must one be... --- 280 million gone, Bengbu is stunned --- Monero's recent surge is hilarious, all the dirty money is dumping --- Trezor official needs to clarify quickly, looks like they’re taking the fall --- Just thinking about it is terrifying, never give your seed phrase to anyone, even the most authoritative sources, don’t trust them --- What was this guy thinking, he could have just contacted hardware wallet customer service and asked again --- Privacy coins and money laundering chains are so obvious, exchanges really should pay attention --- A 36% increase in a week, too outrageous, how much dirty money must have flowed in --- Self-custody still lost to human greed, an eternal topic

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