**$330M Bitcoin Heist: The Fifth-Largest Crypto Hack in History**

A devastating $330 million Bitcoin heist has left the cryptocurrency world reeling, with experts hailing it as the fifth-largest crypto hack in history. The attack targeted an elderly US citizen, who had held over 3,000 BTC since 2017, with no prior history of large-scale transactions.

**Advanced Social Engineering Tactics**

The attacker used advanced social engineering tactics to gain access to the victim's wallet, according to onchain investigator ZachXBT. The hack took place on April 28, 2025, when ZachXBT flagged a suspicious transfer involving 3,520 Bitcoin (BTC), valued at $330.7 million.

**Laundering the Stolen Funds**

Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR). Onchain data shows that the victim had held over 3,000 BTC since 2017, with no prior history of large-scale transactions. Once stolen, the attacker wasted no time laundering the Bitcoin using a peel chain method – a common obfuscation technique in which large sums are broken into smaller, harder-to-trace chunks.

**A Complex Web of Wallets and Exchanges**

Over 300 hacker wallets and 20+ exchanges or payment services were involved in the heist, including Binance. According to Yehor Rudytsia, onchain researcher at Hacken, "Major problem in cases like this is that freezing centralized exchange accounts used in the laundering process is hardened due to particularly slow legal process of police reporting and investigations."

**Monero's Price Surges**

The attacker rapidly converted a significant portion of the BTC into XMR, triggering a 50% surge in Monero's price, with the token briefly reaching $339. "Once funds are swapped into Monero, tracing becomes virtually impossible due to its privacy-preserving architecture," said Cyvers Alerts senior security operations lead Hakan Unal.

**Attribution Uncertain**

While attribution remains uncertain, experts agree that the laundering tactics used in this heist show rare automation and coordination for a hack of this magnitude. "So far, we haven’t been able to confidently link this activity to any known hacker group, as the laundering methods used — while sophisticated — don’t clearly match the signature patterns of previously identified actors," Unal noted.

**Recommendations from Experts**

In light of this devastating attack, experts recommend using multisignature (multisig) wallets to eliminate single points of failure, minimizing exposure to hot wallets connected to the internet. They also advise regularly rotating private keys and relying on hardware-based cold storage to safeguard large Bitcoin holdings.

**A Growing Concern for Crypto Security**

The $330 million Bitcoin heist is just one in a series of high-profile attacks that have targeted cryptocurrency exchanges and smart contracts. In the first quarter of 2025, hackers stole more than $1.6 billion worth of crypto from exchanges and onchain smart contracts, with over 90% of those losses attributable to a $1.5 billion attack by North Korean hacking outfit Lazarus Group.

**Stay Vigilant**

As the cryptocurrency world continues to evolve, it's essential for users to stay vigilant and take proactive measures to protect their assets. By using best practices such as multisig wallets, rotating private keys, and relying on hardware-based cold storage, individuals can minimize their exposure to these types of attacks.

**Update from Binance**

This article has been updated to include comments from a Binance spokesperson. "We are aware of the incident and are working with law enforcement and industry partners to assist where we can," said the spokesperson. "Major problem in cases like this (similar to Genesis creditor’s 4064 BTC theft back in Aug 2024) is that freezing centralized exchange accounts used in the laundering process is hardened due to particularly slow legal process of police reporting and investigations."