783 BTC Heist: $91M Don Lost Due to Social Engineering Scam
For August 23, 2025, on-chain investigator ZachXBT talk say hackers dem dey fake as exchange and hardware wallet support to fool person make e give dem private keys, dem suck 783 BTC (around $91 million). Blockchain analysis show say the thief wash the money through privacy-focused Wasabi Bitcoin wallet. This wahala happen close to one year after the $243 million Genesis Creditor hack, e show say social engineering don dey more dangerous. TRM Labs talk say crypto theft reach $2.1 billion for first half of 2025, with over 80% losses na because private keys and seed phrases dem don compromise by social engineering or insider threat. Average size of hack double reach $30 million, and the February Bybit breach wey North Korean people cause na 70% of overall loss.
Bearish
$91 million social engineering heist don spoil confidence for Bitcoin platforms and increase security concerns, wey fit cause short-term selling pressure. History mega hacks like 2016 Bitfinex breach and February Bybit case cause sharp short-term price drop as traders react to stolen reserves wey enter market. For long term, repeat high-profile thefts fit make people invest for security but e go still make sentiment dey down, keep volatility high and stop strong bullish momentum.