Investor Loses $282M in Crypto to Fake Trezor Support Scam

Crypto News Exploits

Crypto Holder Loses $282 Million After Falling for Fake Trezor Support Scam

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 19, 2026

Key Takeaways

A crypto investor lost over $282 million in Bitcoin and Litecoin after a Trezor support scam tricked them into revealing their recovery phrase;
The attacker dispersed funds across multiple blockchains and converted part to Monero to hide the stolen assets’ trace;
About $700,000 was frozen within 20 minutes, and investigators confirmed no link to North Korean hacking groups.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Crypto Holder Loses $282 Million After Falling for Fake Trezor Support Scam

BITDEGREE IN YOUR SOCIAL FEED

A crypto owner lost over $282 million in Bitcoin BTC $93,017.65 and Litecoin LTC $70.04 due to a social engineering attack.

According to a report by ZachXBT, a blockchain investigator, this incident occurred on January 10, when the scammer impersonated Trezor support and persuaded the holder to disclose the recovery phrase for their hardware wallet.

Once obtained, the attacker accessed the wallet and transferred large sums of cryptocurrency.

How to Avoid Crypto Taxes? (Legal Ways Explained)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

The assets included nearly 1,459 Bitcoin (worth around $139 million) and almost 2.05 million Litecoin (about $153 million).

The attacker did not keep the funds in one place. Instead, the assets were dispersed across different chains to mask the trail. A considerable amount was exchanged for Monero XMR $637.78 .

Some of the stolen Bitcoin was sent via THORChain to wallets associated with Ethereum ETH $3,214.35 , Ripple, and Litecoin blockchains.

The security company ZeroShadow stated in a post on X that approximately $700,000 of the stolen funds were stopped and frozen within 20 minutes of spotting the unusual wallet movements.

ZachXBT clarified that there was no indication of North Korean involvement in this case, following speculation about who might be responsible.

Recently, a vulnerability in Truebit’s code enabled an attack that generated about $26 million in new tokens. What did the blockchain security firm SlowMist say? Read the full story.