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Kraken user loses $18.2M in crypto scam using social engineering and cross-chain transfers

Market News
31 Mar 2026
Bitcoin
View Source
Bearish
pluang ai news

A Kraken user lost approximately $18.2 million in a crypto theft caused by a social engineering attack, where the attacker gained access by tricking the user rather than exploiting technical flaws. The stolen funds were moved across blockchains, initially bridged from Ethereum to Bitcoin via Thorchain, and routed through multiple wallets to obscure the trail. This incident highlights the ongoing risk of social engineering in crypto, emphasizing the importance of strong user security practices like avoiding sharing private keys, enabling two-factor authentication, and using hardware wallets. Analysts continue to track the movement of these stolen assets in real time as the attacker attempts to launder the funds.

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