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An elderly individual in the United States has reportedly fallen victim to a sophisticated social engineering attack, resulting in the theft of a staggering $330 million in Bitcoin. This incident, which unfolded on April 28, 2025, now ranks as the fifth-largest cryptocurrency hack in history, according to onchain investigator ZachXBT. The attacker allegedly employed advanced social engineering tactics to infiltrate the victim’s Bitcoin wallet, making off with 3,520 BTC.
Update: It is confirmed to be a social engineering theft from an elderly individual in the US.
— ZachXBT (@zachxbt) April 30, 2025
Following the illicit transfer, the substantial sum was swiftly laundered through a series of at least six instant exchanges and subsequently converted into the privacy-focused cryptocurrency Monero (XMR), making recovery efforts significantly more challenging. Onchain data indicates the victim had held the substantial Bitcoin holdings since 2017, with no prior record of large-scale transactions, suggesting a long-term investment strategy brutally disrupted. The attacker further obfuscated the stolen funds using a “peel chain” method, a common laundering technique involving breaking down large amounts into smaller, harder-to-trace transactions. This incident underscores the critical need for heightened vigilance and robust security practices, particularly among less tech-savvy cryptocurrency holders, as malicious actors increasingly leverage psychological manipulation to execute high-value thefts.
Tornado Cash Sanctions Relief: Judge Rules Against US Treasury
In a significant legal development, a US federal judge in Austin has ruled against the US Treasury Department’s Office of Foreign Assets Control (OFAC), stating that the agency cannot reimpose sanctions on the controversial crypto mixing service Tornado Cash. Judge Robert Pitman’s April 28 judgment declared OFAC’s previous sanctions on the platform as unlawful, permanently barring the agency from enforcing any future sanctions.
This ruling follows OFAC’s initial blacklisting of Tornado Cash in August 2022, alleging its role in laundering cryptocurrency stolen by the North Korean Lazarus Group. Users of Tornado Cash, led by Joseph Van Loon, subsequently filed a lawsuit, arguing that the sanctions were not legally sound. While OFAC had removed the platform from its sanctions list on March 21 and argued the matter was “moot” following a previous court ruling in favor of Tornado Cash in January, Judge Pitman’s latest decision provides a more definitive legal victory for the crypto mixer and raises questions about the extent of regulatory overreach in the digital asset space.
Also Read: Bitcoin Consolidates Near $90K: Eyes $100K Breakout Amid Economic Data Watch
SEC Delays Decisions on Dogecoin and XRP ETFs, Citing Need for Further Review
The US Securities and Exchange Commission (SEC) has once again deferred its decisions regarding the approval of proposed exchange-traded funds (ETFs) holding the popular cryptocurrencies Dogecoin (DOGE) and XRP. Filings reviewed by Cointelegraph reveal that the regulator has extended its deadline for ruling on the proposed ETF listings until June. These delays are in response to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin ETF and Franklin Templeton’s XRP ETF, respectively. Notably, Nasdaq also submitted a request on the same day to list a 21Shares Dogecoin ETF.
The SEC’s postponement suggests a cautious approach towards expanding the availability of cryptocurrency investment vehicles, even for established digital assets like Dogecoin, the leading memecoin with a market capitalization around $26 billion, and XRP, the native token of the XRP Ledger with a market cap of approximately $133 billion. The regulator’s continued deliberation highlights the ongoing scrutiny and due diligence applied to cryptocurrency-related financial products before they can be offered to mainstream investors.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
