User Loses 5.73 BTC to Indian Fraud Ring via Social Engineering Attack on Changelly in March 2025

BTC1.22%
According to an analysis by ZachXBT reported by ChainCatcher, a user had 5.73 BTC (approximately $475,000) frozen on Changelly in March 2025 following a social engineering attack linked to an Indian fraud ring. The funds were traced to multiple theft incidents targeting U.S. users and Bitcoin ATMs, with total losses exceeding $1 million affecting several elderly victims. The user later filed a police report in India in December 2025 to recover the frozen funds. Analysis suggests the user may have served as a money mule, with inconsistencies found between banking documents and identity information.
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