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Is AI the end of software engineering or the next step in its evolution?
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Is AI the end of software engineering or the next step in its evolution?

by admin September 1, 2025


The first time I used ChatGPT to code, back in early 2023, I was reminded of “The Monkey’s Paw,” a classic horror story about an accursed talisman that grants wishes, but always by the most malevolent path — the desired outcome arrives after exacting a brutal cost elsewhere first. With the same humorless literalness, ChatGPT would implement the change I’d asked for, while also scrambling dozens of unrelated lines. The output was typically over-engineered, often barnacled with irrelevant fragments of code. There were some usable lines in the mix, but untangling the mess felt like a detour.

When I started using AI-assisted tools earlier this year, I felt decisively outmatched. The experience was like pair-programming with a savant intern — competent yet oddly deferential, still a tad too eager to please and make sweeping changes at my command. But when tasked with more localized changes, it nailed the job with enviable efficiency.

The trick is to keep the problem space constrained. I recently had it take a dozen lines of code, each running for 40 milliseconds in sequence — time stacking up — and run them all in parallel so the entire job finished in the time it used to take for just one. In a way, it’s like using a high-precision 3D printer to build an aircraft: use it to produce small custom parts, like hydraulic seals or O-rings, and it delivers flawlessly; ask it for something less localized like an entire cockpit, and you might get a cockpit-shaped death chamber with a nonfunctional dashboard and random knobs haphazardly strung together. The current crop of models is flexible enough for users with little-to-no coding experience to create products of varying quality through what’s called — in a billion-dollar buzzword — vibe-coding. (Google even released a separate app for it called Opal.)

Yet, one could argue that vibe-coding isn’t entirely new. As a tool for nonprofessionals, it continues a long lineage of no-code applications. As a mode of programming that involves less prefrontal cortex than spinal reflex, any honest programmer will admit to having engaged in a dishonorable practice known as “shotgun debugging.” Like mindlessly twisting a Rubik’s Cube and wishing the colors would magically align, a programmer, brain-fried after hours of fruitless debugging, starts arbitrarily tweaking code — deleting random lines, swapping a few variables, or flipping a Boolean condition — re-runs the program, and hopes for the correct outcome. Both vibe-coding and shotgun debugging are forms of intuitive flailing, substituting hunches and luck for deliberate reasoning and understanding.

We’ve used machines to take the load off cognition, but for the first time, we are offloading cognition itself to the machine.

As it happens, it’s not considered good form for a self-respecting programmer to engage in shotgun debugging. Soon, I came to see that the most productive form of AI-assisted coding may be an editorial one — much like how this essay took shape. My editor assigned this piece with a few guiding points, and the writer — yours truly — filed a serviceable draft that no sober editor would run as-is. (Before “prompt and pray,” there was “assign and wait.”)

Likewise, a vibe-coder — a responsible one, that is — must assume a kind of editorship. The sprawling blocks of code produced by AI first need structural edits, followed by line-level refinements. Through a volley of prompts — like successive rounds of edits — the editor-coder minimizes the delta between their vision and the output.

Often, what I find most useful about these tools isn’t even writing code but understanding it. When I recently had to navigate an unfamiliar codebase, I asked for it to explain its basic flow. The AI generated a flowchart of how the major components fit together, saving me an entire afternoon of spelunking through the code.

I’m of two minds about how much vibe-coding can do. The writer in me celebrates how it could undermine a particular kind of snobbery in Silicon Valley — the sickening smugness engineers often show toward nontechnical roles — by helping blur that spurious boundary. But the engineer in me sees that as facile lip service, because building a nontrivial, production-grade app without grindsome years of real-world software engineering experience is a tall order.

I’ve always thought the best metaphor for a large codebase is a city. In a codebase, there are literal pipelines — data pipelines, event queues, and message brokers — and traffic flows that require complex routing. Just as cities are divided into districts because no single person or team can manage all the complexity, so too are systems divided into units such as modules or microservices. Some parts are so old that it’s safer not to touch them, lest you blow something up — much like the unexploded bombs still buried beneath European cities. (Three World War II-era bombs were defused in Cologne, Germany, just this summer.)

If developing a new product feature is like opening a new airline lounge, a more involved project is like building a second terminal. In that sense, building an app through vibe-coding is like opening a pop-up store in the concourse — the point being that it’s self-contained and requires no integration.

Vibe-coding is good enough for a standalone program, but the knottiest problems in software engineering aren’t about building individual units but connecting them to interoperate. It’s one thing to renovate a single apartment unit and another to link a fire suppression system and emergency power across all floors so they activate in the right sequence.

These concerns extend well beyond the interior. The introduction of a single new node into a distributed system can just as easily disrupt the network, much like the mere existence of a new building can reshape its surroundings: its aerodynamic profile, how it alters sunlight for neighboring buildings, the rerouting of pedestrian traffic, and the countless ripple effects it triggers.

The security concerns around vibe-coding, in my estimation, are something of a bogeyman.

I’m not saying this is some lofty expertise, but rather the tacit, hard-earned kind — not just knowing how to execute, but knowing what to ask next. You can coax almost any answer out of AI when vibe-coding, but the real challenge is knowing the right sequence of questions to get where you need to go. Even if you’ve overseen an interior renovation, without standing at a construction site watching concrete being poured into a foundation, you can’t truly grasp how to create a building. Sure, you can use AI to patch together something that looks functional, but as the software saying goes: “If you think good architecture is expensive, try bad architecture.”

If you were to believe Linus Torvalds, the creator of Linux, there’s also a matter of “taste” in software. Good software architecture isn’t just drawn up in one stroke but emerges from countless sound — and tasteful — micro-decisions, something models can’t zero-shot. Such intuition can only be developed as a result of specific neural damage from a good number of 3AM on-call alerts.Perhaps these analogies will only go so far. A few months ago, an AI could reliably operate only on a single file. Now, it can understand context across multiple folders and, as I’m writing this, across multiple codebases. It’s as if the AI, tasked with its next chess move, went from viewing the board through the eyes of a single pawn to surveying the entire game with strategic insight. And unlike artistic taste, which has infinitely more parameters, “taste” in code might just be the sum of design patterns that an AI could absorb from O’Reilly software books and years of Hacker News feuds.

When the recent Tea app snafu exposed tens of thousands of its users’ driver’s licenses — a failure that a chorus of online commenters swiftly blamed on vibe-coding — it felt like the moment that vibe-coding skeptics had been praying for. As always, we could count on AI influencers on X to grace the timeline with their brilliant takes, and on a certain strain of tech critics — those with a hardened habit of ritual ambulance chasing — to reflexively anathematize any use of AI. In a strange inversion of their usual role as whipping boys, software engineers were suddenly elevated to guardians of security, cashing in on the moment to punch down on careless vibe-coders trespassing in their professional domain.

When it was revealed that vibe-coding likely wasn’t the cause, the incident revealed less about vibe-coding than it did about our enduring impulse to dichotomize technical mishaps into underdogs and bullies, the scammed and fraudsters, victims and perpetrators.

At the risk of appearing to legitimize AI hype merchants, the security concerns around vibe-coding, in my estimation, are something of a bogeyman — or at least the net effect may be non-negative, because AI can also help us write more secure code.

Sure, we’ll see blooper reels of “app slop” and insecure code snippets gleefully shared online, but I suspect many of those flaws could be fixed by simply adding “run a security audit for this pull request” to a checklist. Already, automated tools are flagging potential vulnerabilities. Personally, using these tools has let me generate far more tests than I would normally care to write.

Further, if a model is good enough, when you ask, “Hey, I need a database where I can store driver’s licenses,” an AI might respond:

“Sure, but you forgot to consider security, you idiot. Here’s code that encrypts driver’s license numbers at rest using AES-256-GCM. I’ve also set up a key management system for storing and rotating the encryption key and configured it so decrypting anything requires a two-person approval. Even if someone walks off with the data, they’d still need until the heat death of the universe to crack it. You’re welcome.”

In my day job, I’m a senior software engineer who works on backend mainly, on machine learning occasionally, and on frontend — if I must — reluctantly. In some parts of the role, AI has brought a considerable sense of ease. No more parsing long API docs when a model can tell me directly. No more ritual shaming from Stack Overflow moderators who deemed my question unworthy of asking. Instead, I now have a pair-programmer who doesn’t pass judgment on my career-endingly dumb questions.

The evolution of software engineering is a story of abstraction.

Unlike writing, I have little attachment to blocks of code and will readily let AI edit or regenerate them. But I am protective of my own words. I don’t use AI for writing because I fear losing those rare moments of gratification when I manage to arrange words where they were ordained to be.

For me, this goes beyond sentimental piety because, as a writer who doesn’t write in his mother tongue — “exophonic” is the fancy term — I know how quickly an acquired language can erode. I’ve seen its corrosive effects firsthand in programming. The first language I learned anew after AI arrived was Ruby, and I have a noticeably weaker grasp of its finer points than any other language I’ve used. Even with languages I once knew well, I can sense my fluency retreating.

David Heinemeier Hansson, the creator of Ruby on Rails, recently said that he doesn’t let AI write code for him and put it aptly: “I can literally feel competence draining out of my fingers.” Some of the trivial but routine tasks I could once do under general anesthesia now give me a migraine at the thought of doing them without AI.

Could AI be fatal to software engineering as a profession? If so, the world could at least savor the schadenfreude of watching a job-destroying profession automate itself into irrelevance. More likely in the meantime, the Jevons Paradox — greater efficiency fuels more consumption — will prevail, negating any productivity gain with a higher volume of work.

Another way to see this is as the natural progression of programming: the evolution of software engineering is a story of abstraction, taking us further from the bare metal to ever-higher conceptual layers. The path from assembly language to Python to AI, to illustrate, is like moving from giving instructions such as “rotate your body 60 degrees and go 10 feet,” to “turn right on 14th Street,” to simply telling a GPS, “take me home.”

As a programmer from what will later be seen as the pre-ChatGPT generation, I can’t help but wonder if something vital has been left behind as we ascend to the next level of abstraction. This is nothing new — it’s a familiar cycle playing out again. When C came along in the 1970s, assembly programmers might have seen it as a loss of finer control. Languages like Python, in turn, must look awfully slow and restrictive to a C programmer.

Hence it may be the easiest time in history to be a coder, but it’s perhaps harder than ever to grow into a software engineer. A good coder may write competent code, but a great coder knows how to solve a problem by not writing any code at all. And it’s hard to fathom gaining a sober grasp of computer science fundamentals without the torturous dorm-room hours spent hand-coding, say, Dijkstra’s algorithm or a red-black tree. If you’ve ever tried to learn programming by watching videos and failed, it’s because the only way to internalize it is by typing it out yourself. You can’t dunk a basketball by watching NBA highlight reels.

The jury is still out on whether AI-assisted coding speeds up the job at all; at least one well-publicized study suggests it may be slower. I believe it. But I also believe that for AI to be a true exponent in the equation of productivity, we need a skill I’ll call a kind of mental circuit breaker: the ability to notice when you’ve slipped into mindless autopilot and snap out of it. The key is to use AI just enough to get past an obstacle and then toggle back to exercising your gray matter again. Otherwise, you’ll lose the kernel of understanding behind the task’s purpose.

On optimistic days, I like to think that as certain abilities atrophy, we will adapt and develop new ones, as we’ve always done. But there’s often a creeping pessimism that this time is different. We’ve used machines to take the load off cognition, but for the first time, we are offloading cognition itself to the machine. I don’t know which way things will turn, but I know there has always been a certain hubris to believing that one’s own generation is the last to know how to actually think.

Whatever gains are made, there’s a real sense of loss in all this. In his 2023 New Yorker essay “A Coder Considers the Waning Days of the Craft,” James Somers nailed this feeling after finding himself “wanting to write a eulogy” for coding as “it became possible to achieve many of the same ends without the thinking and without the knowledge.” It has been less than two years since that essay was published, and the sentiments he articulated have only grown more resonant.

For one, I feel less motivated to learn new programming languages for fun. The pleasure of learning new syntax and the cachet of gaining fluency in niche languages like Haskell or Lisp have diminished, now that an AI can spew out code in any language. I wonder whether the motivation to learn a foreign language would erode if auto-translation apps became ubiquitous and flawless.

Software engineers love to complain about debugging, but beneath the grumbling, there was always a quiet pride in sharing war stories and their clever solutions. With AI, will there be room for that kind of shoptalk?

There are two types of software engineers: urban planners and miniaturists. Urban planners are the “big picture” type, more focused on the system operating at scale than with fussing over the fine details of code — in fact, they may rarely write code themselves. Miniaturists bring a horologist’s care for a fine watch to the inner workings of code. This new modality of coding may be a boon for urban planners, but leave the field inhospitable to miniaturists.

I once had the privilege of seeing a great doyen of programming in action. In college, I took a class with Brian W. Kernighan, a living legend credited with making “Hello, world” into a programming tradition and a member of the original Bell Labs team behind Unix. Right before our eyes, he would live-code on a bare-bones terminal, using a spartan code editor called vi — not vim, mind you — to build a parser for a complex syntax tree. Not only did he have no need for modern tools like IDEs, he also replied to email using an email client running in a terminal. There was a certain aesthetic to that.

Before long, programming may be seen as a mix of typing gestures and incantations that once qualified as a craft. Just as we look with awe at the old Bell Labs gang, the unglamorous work of manually debugging concurrency issues or writing web server code from scratch may be looked upon as heroic. Every so often, we might still see the old romantics lingering over each keystroke — an act that’s dignified, masterful, and hopelessly out of time.

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September 1, 2025 0 comments
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How Social Engineering Fooled A Millionaire Out Of $1.2M In Crypto
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How Social Engineering Fooled a Millionaire Out of $1.2M in Crypto

by admin August 31, 2025



In crypto, the most dangerous scams don’t always hide in code. They hide in trust. Swedish entrepreneur Erik Bergman, Founder of Great.com, learned this lesson in the most brutal way possible. 

In a gripping thread on X, he revealed how fraudsters manipulated him into giving away $1.25 million. This was not done through a hack, but via a carefully staged play on human trust, featuring the biggest names in online culture.

The Trap: Belonging Before Betrayal

The story begins with a call that seemed impossible to refuse. Bergman was approached for a virtual meeting on a water project, featuring none other than YouTube stars MrBeast and Mark Rober. The project was to build wells in Africa and aid people in getting access to clean water. 

Both YouTubers have built reputations on philanthropy and bold charitable campaigns. So for Bergman, who has committed much of his own wealth to social impact causes, the meeting felt like a natural fit.

I just got scammed for $1.25 million.

I feel ashamed and stupid.

This story starts with me getting a phone call from @MrBeast and @MarkRober .

They ask me to donate money @teamwater. To build wells in Africa and help people get clean water.

I’m surprised by their call. We’ve… pic.twitter.com/ZQkTSovtqz

— Erik Bergman (@smilingerik) August 29, 2025

“It started with MrBeast and Mark Rober on a call about water,” Bergman wrote. The presence of these names disarmed him immediately. He was convinced he was stepping into a legitimate circle of philanthropists.

But the call was only the first step in an elaborate social engineering scheme. Soon after, Bergman was added to what looked like an exclusive donor group on WhatsApp. Inside this digital circle, he saw names like Adin Ross, Eddie (the Co-Founder of Stake), Shopify’s Tobi Lütke, and even a Norwegian billionaire. The design was intentional: to make him feel like part of a rarefied community of wealthy do-gooders.

From there, the trust gap only widened. A “Coinbase representative” appeared in the group, offering members early access to a new token. The opportunity was presented as insider access to a major exchange rollout, exactly the kind of exclusive deal one might expect among big-ticket philanthropists. 

Bergman, already softened by the names around him, didn’t really question the offer and transferred nearly $1 million.

The money was gone in minutes.

A Scam Built on Belonging

What happened to Bergman is a clear case of social engineering in crypto. This was not a hack of codes or systems. It was a hack of trust. The scammers built an environment where he believed he was among people like him. Once that sense of belonging was created, his skepticism faded. That is when the fraudsters struck.

Bergman himself admitted this vulnerability. He said he had always thought of himself as “too smart” to fall for a scam. But intelligence wasn’t the deciding factor. The fraudsters weren’t testing his knowledge of blockchains; they were testing his capacity for trust.

“I was vulnerable because I wanted to be part of the group,” he confessed in his thread.

This is the uncomfortable truth of such scams: they don’t work because people are uninformed. They work because people are human.

The First Transaction

At first, the buy-in looked small compared to what was promised. Bergman sent $500,000 in crypto to what he believed was an official wallet. The chat, filled with supposed billionaires and creators, lit up with excitement. 

Even when one “billionaire” appeared to be rejected for being late, Bergman felt reassured. If they could reject someone of that stature, surely the process was genuine.

The following day, the scammers raised the stakes. The price of the coin had doubled, and the maximum buy-in was now $750,000. Eager not to be left out, Bergman wired the amount without hesitation. That brought his total loss to $1.25 million in just 48 hours.

Raising the Stakes

By the third day, the pitch escalated again. The price had climbed to $0.45 per coin, and Bergman got prepared to invest once more. But this time, something made him pause. Looking closer, he spotted inconsistencies: a supposed American influencer using a UK number, details that did not add up. When he finally called the real MrBeast, also known as Jimmy, the truth hit him with devastating clarity.

Everything was fake. The WhatsApp group, the banter, the plans of a trip to Africa, even the Coinbase tie-up. In all, Bergman had lost $1.25 million across three staged investment rounds and had narrowly avoided sending even more.

Not the First, Not the Last

Bergman’s ordeal may sound extraordinary, but social engineering has quietly siphoned billions from the crypto economy. It is one of many striking cases that show just how devastating and varied these attacks can be.

In 2022, the Ronin Network, which powers the play-to-earn game Axie Infinity, suffered one of the largest breaches in crypto history. Hackers didn’t storm its systems; instead, they tricked employees into downloading a fake PDF job offer, which gave attackers control of the network. The result? More than $600 million was stolen, and the exploit wasn’t discovered for nearly a week!

In 2024, DMM Bitcoin, a Japanese exchange, lost over $300 million in what investigators say was most likely a social engineering attack. Though details remain under wraps, early findings suggest attackers infiltrated through stolen operator credentials rather than direct technical flaws.

Both cases underline what Bergman’s story makes painfully clear: the weakest link in crypto is rarely the blockchain itself. It’s the person holding the keys.

Erik’s Brother Steps In

The aftermath of Bergman’s revelation carried a layer of humanity. His brother, who works alongside him, stepped in with a sober response to the flood of sympathy and criticism the X posts received.

Here’s what my brother wrote. Translated by almighty GPT.

“Little brother, this fucking sucks!
BUT, one of your admirable qualities is your positive view of people. Your starting point is that the world is a good place. With that mindset, sometimes you take a hit. The…

— Erik Bergman (@smilingerik) August 29, 2025

“My brother is brave for sharing this,” he wrote. But he also cautioned followers not to romanticize the story. Scammers hadn’t just stolen money; they had shaken Bergman’s sense of judgment, self-image, and trust in himself.

That distinction mattered. Losing money is devastating, but in Bergman’s case, it wasn’t the millions alone that cut deepest. It was the humiliation of realizing he had been fooled despite thinking he was immune.

A Warning Wrapped in a Confession

By making his experience public, Bergman did more than tell a personal story. He issued a warning to the wider crypto community, especially those who assume they are too sophisticated to fall victim. The most sophisticated scams are tailored to exactly that confidence.

The choice of MrBeast and Mark Rober was deliberate. The scammers understood which names carried Bergman’s trust. By invoking figures known for generosity and credibility, they created an aura of legitimacy. 

The scheme was carefully constructed: a supposed Coinbase representative, the promise of an insider token, and a network of alleged philanthropists. None of it existed. Every element was crafted to exploit his trust rather than breach technology.

Bergman’s experience is also a cautionary tale for influencers, creators, and institutions whose reputations hold influence online. When scammers misuse those identities, the harm extends far beyond financial loss. It weakens public confidence in communities that are built on trust.

Social Engineering: A Growing Threat

Social engineering is not a new tactic, but in the world of crypto it is becoming more widespread. Chainalysis estimates that scammers stole more than $1.7 billion in 2023, with a large part of that linked to social engineering. 

Its real danger is in how flexible it is. Criminals do not need to attack the blockchain itself when they can attack something more fragile: human trust.

Experts have warned that as crypto adoption widens, these scams will only evolve. From fake customer support chats to fraudulent airdrops, from compromised Discord servers to deepfake calls, the toolbox is growing. Bergman’s story may look unusual, but the mechanics, impersonation, trust, and exclusivity are already common across the industry.

Lessons in Trust

For Bergman, the $1.25 million loss is now public record. He chose transparency, despite the personal cost of embarrassment, in hopes others might avoid the same fate. His candor has turned his misfortune into a cautionary tale, one that should echo far beyond crypto circles.

The broader lesson? In a world obsessed with decentralization and code, trust remains the most fragile currency of all. And when it breaks, the damage spreads further than any ledger can show.

As Bergman himself admitted, “I thought I was too smart to be scammed.” His story proves no one is.

Also Read: Crypto Investor Loses 783 Bitcoin ($91M) to Social Engineering Scam





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August 31, 2025 0 comments
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Crypto Trends

Bitcoin Investor Loses $91 Million to Social Engineering Scam: ZachXBT

by admin August 24, 2025



In brief

  • An investor lost 783 Bitcoin—$91 million worth a the time—to a social engineering scam, according to on-chain sleuth ZachXBT.
  • The threat actor allegedly used a coin-mixing service to try to cover their tracks.
  • ZachXBT alleged that three individuals used similar tactics to steal $243 million worth of Bitcoin a year ago.

A crypto investor lost 783 Bitcoin—valued at $91 million at the time of the attack—on Tuesday after falling victim to a social engineering scam, according to the pseudonymous blockchain sleuth ZachXBT.

The investigator said in a message on Telegram that the victim was approached by individuals impersonating customer support representatives for a hardware wallet manufacturer and a cryptocurrency exchange. The investigator did not identify the impersonated companies in question.

As of this writing, 783 Bitcoin is worth about $88 million, with the price of BTC falling in recent days.

The threat actor made several deposits to Wasabi Wallet, a privacy-focused Bitcoin “mixer” that suspended its services for U.S. users last year, as “the stolen funds began to peel off” across multiple digital wallets, according to ZachXBT.



Social engineering attacks can be lucrative in the cryptosphere. ZachXBT noted in the message that Tuesday’s loss took place exactly a year after he alleged three individuals stole 4,064 BTC, worth $243 million at the time, from a separate unnamed individual using similar tactics.

Two individuals were arrested in connection to the scheme in Florida a month later, after allegedly spending the funds on luxury cars, watches, and real estate. Targeting a creditor of collapsed crypto lender Genesis, they allegedly impersonated members of Google’s support team, convincing the victim to adjust their two-factor authentication settings.

On Aug 19, 2025 a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated.

The stolen funds began to peel off and deposits to Wasabi were made by the threat actor.

Coincidentally this theft… pic.twitter.com/gglShNo2UC

— ZachXBT (@zachxbt) August 21, 2025

Some social engineering scams are more complex than others. It can be as unsophisticated as “SIM swapping,” where criminals try to convince a mobile service provider to transfer a victim’s phone service to a device in their possession, according to an annual FBI report. 

Infamously, an SEC staff member fell victim to a SIM swapping attack in 2024, preceding the debut of spot Bitcoin exchange-traded funds in the U.S. The regulator’s X account prematurely said that the ETFs had been approved, and an Alambama later received a 14-month prison sentence for his role in facilitating the scheme.

The Bureau explicitly warned against social engineering scams in April of last year, warning that impersonating employees is also a common social engineering tactic, along with call forwarding to access victims’ phone numbers and phishing campaigns to collect sensitive information.

Job-seekers aren’t safe either. In February, cybersecurity website Bleeping Computer identified a social engineering scam in which the hacking group Crazy Evil created a fake crypto company to get applicants to download wallet-draining malware.

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August 24, 2025 0 comments
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Binance announces Defi App (HOME) listing and 200m airdrop for BNB holders
NFT Gaming

Binance warns of social engineering SMS scam after $91m Bitcoin theft

by admin August 22, 2025



Binance has warned its users about scammers after a victim lost $91 million in a similar attack.

Summary

  • Binance has warned its users about scammers impersonating its support
  • One user lost $91 million in Bitcoin from a similar attack
  • ZachXBT says that attackers don’t appear to be from North Korea

Scammers are increasingly relying on human error to steal funds. On August 21, crypto investigator ZachXBT reported that one user lost $91 million in Bitcoin (BTC) to a social engineering scam.

On Aug 19, 2025 a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated.

The stolen funds began to peel off and deposits to Wasabi were made by the threat actor.

Coincidentally this theft… pic.twitter.com/gglShNo2UC

— ZachXBT (@zachxbt) August 21, 2025

According to the investigator, the attack, which happened on August 19, was a social engineering scam. Scammers impersonated both the victim’s crypto exchange and hardware wallet support via text messages.

They used this fabricated trust to get the victim to share critical information, which gave the attackers control over the funds.

Binance warns that scammers are targeting its users

ZachXBT did not reveal which exchange the attackers targeted. However, following the attack, Chinese crypto reporter Colin Wu reported that Binance issued a warning about the same type of scams to its users.

Binance: Scammers are sending fake SMS messages pretending to be from Binance. They want to trick you by saying your account is “at risk” and make you call fake support telephone numbers or click dangerous links. Binance will never reach out directly via SMS or phone calls. If… pic.twitter.com/IZtYb5c9Zk

— Wu Blockchain (@WuBlockchain) August 21, 2025

According to Binance, attackers send unsolicited text messages to users, pretending to be from the exchange. Typically, these scams try to make it seem that the user’s account is at risk.

For instance, the messages will warn users that a new device from an unknown location has logged into their accounts. Similarly, the text messages also warn about supposed transfers.

In all cases, attackers prompt users to either call the “support” number or log into a fake website. From there, they are asked to share account information, enabling scammers to take over their wallets.

According to Hacken, social engineering scams led to $600 million in losses in the first half of 2025. This was about 19% of all losses across crypto platforms in the same period.





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August 22, 2025 0 comments
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Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

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    October 9, 2025
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    October 9, 2025

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