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$282 Million Stolen in Trezor Impersonation Scam via Social Engineering

$282 Million Stolen in Trezor Impersonation Scam via Social Engineering

First seen 2 Aug 2026, 23:01 UTC • •
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ThreatCluster AI
ThreatCluster •August 3, 2026 at 22:49 UTC
  • •Attackers impersonated Trezor support to steal $282 million in cryptocurrency.
  • •The incident was a social engineering attack, not a software breach.
  • •Approximately $700,000 of the stolen funds were frozen shortly after the theft.

On August 2, 2026, a Bitcoin and Litecoin holder fell victim to a scam involving attackers impersonating Trezor support staff. The victim provided a 12-word mnemonic phrase, leading to the theft of approximately $282 million in assets, including $139 million in Bitcoin and $153 million in Litecoin. The incident was confirmed by blockchain forensic firm ZeroShadow, which stated that it was a social engineering attack rather than a breach of wallet software. The stolen funds were quickly split using the THORChain cross-chain bridge and converted into Monero through instant exchanges. ZeroShadow's monitoring team managed to freeze around $700,000 of the stolen funds within 20 minutes. This incident highlights the risks associated with sharing mnemonic phrases and the potential for significant financial loss. Chainalysis estimates that a large portion of mined Bitcoin may be permanently inaccessible due to lost keys and poor inheritance planning.

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Timeline

2026-08-02
Victim shares mnemonic phrase
A Bitcoin and Litecoin holder provided a 12-word mnemonic phrase to attackers impersonating Trezor support, leading to a major theft.
Kucoin
2026-08-02
ZeroShadow confirms social engineering attack
Blockchain forensic firm ZeroShadow stated that the theft was due to social engineering, not a breach of wallet software.
Chaincatcher
2026-08-02
Funds converted to Monero
The stolen funds were split and converted into Monero within minutes using THORChain and instant exchanges.
Kucoin
2026-08-02
ZeroShadow freezes stolen funds
ZeroShadow's monitoring team identified and froze approximately $700,000 of the stolen assets within 20 minutes.
Chaincatcher

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