What are the stolen USDT funds?

The stolen Tether (CRYPTO:USDT) funds totalled 2,151,772 USDT, worth about US$2.1 million when the theft occurred.

How is Tether (CRYPTO:USDT) involved in the stolen funds?

Tether (CRYPTO:USDT) froze about US$1 million held in a wallet linked to the theft, while investigators continued tracking the remaining funds.

What does the Telegram account hack mean for crypto traders?

The Telegram account hack shows how scammers can impersonate trusted contacts and persuade crypto traders to approve large Tether (CRYPTO:USDT) transfers.

Why did the scammers convert USDT into TRX?

The scammers converted the stolen Tether (CRYPTO:USDT) into TRON (CRYPTO:TRX) before moving the funds towards deposit addresses linked to MaskEX.

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Trader loses $2.1M USDT in Telegram scam

Q: Why did the trader lose US$2.1 million in USDT?

The trader lost 2,151,772 Tether (CRYPTO:USDT) after scammers hijacked a business partner’s Telegram account and used it to approve the transfer.

Escrito por Heidi Cuthbert Published Sep 15, 2026, 3:14 AM

A crypto trader has lost about US$2.1 million in USDT after scammers hijacked a partner’s Telegram account.
The trader first sent US$10 to test the wallet before transferring 2,151,772 USDT.
Tether has frozen about US$1 million, while investigators trace the remaining funds.

A crypto trader has lost about US$2.1 million in Tether (CRYPTO:USDT) after scammers hijacked a business partner’s Telegram account.

The victim first sent US$10 as a test before transferring 2,151,772 USDT after receiving confirmation.

The scammers later deleted the Telegram conversation and stopped responding, according to blockchain investigator VAL.

The stolen USDT was moved to another wallet and converted into TRON (CRYPTO:TRX) before reaching deposit addresses linked to MaskEX.

Tether froze about US$1 million in one wallet linked to the theft, while investigators traced the remaining funds through blockchain records.

VAL used transaction timing and exchange data to identify another wallet holding the remaining funds, which has shown no activity for two months.

The case highlights the risks of social engineering scams, where attackers use compromised accounts to make fraudulent crypto transfers appear legitimate.