Thieves are draining nearly $5 million in Bitcoin (BTC) from a crypto scammer who profited from deceiving victims through a task scam.

Chainalysis says one of the biggest victims in the Ledger thefts was the scammer themselves.

“One of the biggest victims of the Ledger theft was a scammer themselves. They lost more than 60BTC, about $4.8M. The funds were from a task scam.”

The firm details how the scam operated by paying people to fake sales and reviews of real items before creating a negative balance that tricked victims into adding their own money.

“In this task scam, people were paid to fake sales and reviews of real items. Then a ‘negative balance’ appeared, and they were told to add their own money in order to get paid.”

On September 22nd, the scammer moved the proceeds into three separate Ledger addresses that thieves emptied on October 9th with one transfer each into the same wallet reported as containing stolen funds.

Criminals stole approximately $90 million in digital assets from cryptocurrency wallets last week by tampering with hardware wallets, small USB-like devices designed to securely store the keys used to access crypto holdings, reports the Financial Times.

Ledger said Thursday that organized criminals spent several months buying genuine Ledger devices, opening them and installing concealed components designed to capture users’ recovery phrases during setup. The tampered devices were then returned to circulation through resellers in Southeast Asia.

From an on-chain analytics and liquidity distribution perspective, developments around "Scammer Loses $4,800,000 in Bitcoin as Thieves Drain Ledger Wallets Holding ‘Task Scam’ Proceeds" signal important shifts in network participation. Market participants observe that derivative funding metrics, exchange reserve telemetry, and smart contract protocol interactions reflect cautious accumulation alongside disciplined risk hedging across the sector.

Technical research analysts at CryptoAce VIP note that high-density order book clusters and volume-weighted average price (VWAP) benchmarks near recent consolidation floors will serve as pivotal indicators. Market observers are advised to cross-examine telemetry on verified block explorers before making capital allocations.

Editorial Fact-Check & Verification Note: This briefing was curated, corroborated, and synthesized by the CryptoAce VIP Editorial Desk. Readers following "Scammer Loses $4,800,000 in Bitcoin as Thieves Drain Ledger Wallets Holding ‘Task Scam’ Proceeds" are encouraged to review the full primary source coverage linked below for complete historical context, direct quotes, and official statements.