Social Engineering: They Can’t Hack Your Bitcoin BUT They Can Hack You!

Jan 13, 2026

In this engaging discussion, Christopher Hadnagy, a social engineering expert and founder of the Innocent Lives Foundation, reveals the insidious tactics hackers use to exploit Bitcoin holders. He shares wild stories, like breaching Jamaican banks with clever distractions and using AI to enhance scams. Hadnagy warns against FOMO and romance frauds that target victims, discusses the dangers of voice phishing, and provides practical defenses including MFA and code words. His insights into the human flaws in Bitcoin security are both alarming and eye-opening.

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ANECDOTE

Bank Server Room Break-In

Christopher Hadnagy and a partner posed as PCI auditors to physically breach three Jamaican banks, using shirts, clipboards, and staged distractions.
They tailgated, recorded passwords, and phoned a fake contact to get access to the server room.

INSIGHT

OSINT Creates Believable Pretexts

Social engineering starts with OSINT to find emotional triggers that explain suspicious behavior.
Filling mental gaps prevents targets from switching to critical thinking and keeps them in compliance mode.

INSIGHT

Emotion Drives Crypto Scams

Scams exploit emotions: FOMO, romance, and fear create powerful levers to extract crypto or savings.
Targets often rationalize losses and cling to the fabricated relationship or opportunity.

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