Prominent on-chain investigator ZachXBT has released a new report exposing the identity behind a crypto scam syndicate. In an investigative thread published to his 1.07 million followers on X, he revealed the name of Tiffany Milanovich, a US-based threat actor. This perpetrator is known to be directly linked to a series of crypto thefts that cost victims at least $5 million.
The perpetrator’s modus operandi centered on social engineering. She deliberately posed as support or customer service teams for various hardware wallet companies and centralized crypto exchanges. Under the guise of offering technical assistance, she guided victims step-by-step to eventually gain full access and drain their wallets.
Mocking Victims on the Phone While Flaunting Luxury
What makes this investigation stand out is the behavior of the perpetrator after the theft. Once millions of dollars had changed hands, the perpetrator did not immediately cut off communication. A recording documented the moment Tiffany, while still on the phone call, mocked her victim immediately after their assets were drained.
The stolen funds were not laundered discreetly either. Instead, the perpetrator openly flaunted purchases of various luxury goods strongly suspected to have been bought with the victims’ money. It was this trail of flaunted wealth that was traced by ZachXBT, an analyst with a proven track record of exposing illicit fund flows on the blockchain, until the perpetrator’s real identity was successfully mapped.
Wave of Attacks Against Holders of Actual Assets
The exposure of the Tiffany Milanovich case comes right in the middle of a crime trend targeting high-value crypto holders. The industry is currently facing a wave of social engineering attacks targeting hardware wallet users. This series of incidents also includes exploits against Coldcard device users, which recently garnered widespread public attention.
Findings from ZachXBT show a shift in tactics among cybercriminals. Scam patterns masquerading as support staff are now increasingly aggressive and directed at users of actual crypto assets. The perpetrators realize that hacking smart contract code often takes a long time, so they choose a shortcut: attacking the human weak point in control of their self-custody storage devices.
The $5 million figure may only be a fraction of the total losses in the crypto industry this year. However, this scam case underscores that holding your own private keys does not guarantee security if the owner can still be deceived by a stranger on the other end of the phone.
Sourced from @zachxbt on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
