The post Crypto Scam Alert: Whale Lost Over $282M in Bitcoin and Litecoin Via Social Engineering Scam appeared on BitcoinEthereumNews.com.

The post Crypto Scam Alert: Whale Lost Over $282M in Bitcoin and Litecoin Via Social Engineering Scam appeared first on Coinpedia Fintech News A crypto whale has lost more than $282 million worth of Bitcoin (BTC) and Litecoin (LTC) after falling victim to a hardware wallet social engineering scam, making it one of the largest personal crypto thefts ever reported. According to ZackXBT, the incident occurred on January 10, 2026, at approximately 11 PM UTC, when scammers tricked the victim into approving fake transactions. Although the funds were stored in a hardware wallet, the attackers used psychological manipulation to gain access. Hackers Swap Stolen Bitcoin and Litecoin Into Monero After stealing the funds, the attackers quickly began converting large amounts of Bitcoin and Litecoin into Monero (XMR) using instant crypto exchange platforms. Because Monero has lower trading volume than Bitcoin, these large swaps pushed Monero’s price up by more than 60% in a short time. In addition to swapping into Monero, the attacker also moved Bitcoin across different blockchains using THORChain, a decentralized cross-chain protocol. BTC was bridged to the Ethereum, Ripple, and Litecoin networks. THORChain has increasingly become a preferred tool for laundering stolen crypto because it is permissionless and does not require KYC, making it easier for criminals to move funds without identity checks. According to ZachXBT, the attackers swapped: 818 BTC (about $78 million) into 19,631 ETH (about $64.5 million) 3.15 million XRP (about $6.5 million) 77,285 LTC (about $5.8 million) Once the stolen assets are converted into Monero, tracing them becomes virtually impossible. Monero’s built-in privacy features hide transaction details, making it extremely difficult for investigators to follow the money trail. This case highlights how advanced laundering methods are now being used after major crypto scams, making recovery of stolen funds far more challenging. Stolen Funds…

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Filed under: News - @ January 17, 2026 6:22 am