Let Freedom: Political News, Un-Biased, Lex Fridman, Joe Rogan, CNN, Fox News Bitcoin Scam Drains $220K from Sass Mining
Nov 17, 2025
A shocking Bitcoin scam drained $220,000 from Sass Mining, fueled by a 'mining as a service' con trick. The CEO was lured into a false investment pitch during a meeting. Once funds were transferred, they vanished almost instantly due to seed phrase theft and sophisticated laundering techniques. Scammers built trust through in-person interactions while leveraging an underground network. The episode reveals the harsh realities of crypto crime, emphasizing the importance of securing seed phrases and recognizing red flags in flashy offers.
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Amsterdam Meeting Turned Costly
- Kent Halliburton flew to Amsterdam and met two supposed ultra-wealthy investors who convinced him to move BTC into a new wallet.
- He tested the wallet but the funds were quickly drained and laundered across addresses and exchanges.
Scam Runs Like Organized Operation
- The scam was highly coordinated and used sophisticated laundering tactics rather than being a one-off con.
- Investigators believe operatives recruited from secure forums run tight-knit networks using physical meetings to build trust.
Seed Phrase Theft Enabled Instant Drain
- Security researchers suspect the scammers recorded Halliburton's seed phrase when he first opened the wallet using spying methods like mimicked Wi-Fi or visual observation.
- That phrase enabled an automated sweeper script to empty the wallet as soon as funds arrived.