Collaborative design software company Figma (FIG) expanded its bitcoin BTC$109,978.63 holdings to $91 million in the second quarter of this year, the company disclosed Wednesday during its earnings call.

The move, revealed by Chief Financial Officer Praveer Melwani, comes as part of a larger $1.6 billion cash position. “Within the $1.6 billion, we also held approximately $91 million in our bitcoin exchange-traded fund,” Melwani said.

Figma, which went public on the New York Stock Exchange in July, has had an eventful few years. A planned $20 billion acquisition by Adobe collapsed in 2023 after regulators raised antitrust concerns. Since then, the company continued to grow its customer base, which includes 95% of the Fortune 500.

Unlike some firms that have turned to bitcoin holdings as a last-ditch effort to excite investors or pivot away from declining core businesses, Figma’s approach appears more conservative.

“We’re not trying to be Michael Saylor here,” CEO Dylan Field told CNBC, referring to the co-founder of MicroStrategy, known for turning his previously sleepy software company into a major bitcoin holder. “This is not, like, a Bitcoin holding company. It’s a design company, but I think there’s a place for it in the balance sheet and as part of a diversified treasury strategy.”

Neither the increase in bitcoin exposure nor the better-than-expected revenue boosted investor sentiment, at least in the short term. Despite beating earnings expectations, Figma shares dropped 18% on Thursday, closing at $55.96. That remains above the IPO price, but down about 50% from the frenzied IPO-day peak.

Figma’s quiet addition of bitcoin to its treasury adds another name to the list of public companies experimenting with digital assets as part of their financial infrastructure — but without the spectacle or evangelism often associated with the move.

For now, bitcoin remains a small slice of Figma’s balance sheet.

Social engineering scams have proved to be one of the damaging attack vectors in crypto, which are capable of bypassing technical defenses and draining platforms or users of staggering sums.

In the latest development, a victim lost 783 Bitcoin, worth approximately $91 million, in such an attack.

Hackers Impersonate Wallet Support

Prominent on-chain investigator ZachXBT reported that the attackers impersonated both exchange and hardware wallet customer support. Blockchain data shows the thief has already laundered the stolen funds through the privacy-focused Bitcoin wallet Wasabi.

The incident coincidentally occurred on the one-year anniversary of the $243 million Genesis Creditor theft.

ZachXBT explained that large-scale breaches have left massive amounts of personal information exposed online, which makes it easier for threat actors to exploit victims. By leveraging these data leaks, attackers can convincingly impersonate exchange or wallet support, gain trust, and ultimately carry out such scams.

When asked by a community member how one can avoid falling victim to social engineering, ZachXBT offered a blunt but practical piece of advice: treat every call or email as a potential scam by default.

Social Engineering: A Dominant Attack Vector

TRM Labs recently highlighted the growing dominance of social engineering in crypto-related thefts. The firm found that the first half of 2025 witnessed a record $2.1 billion stolen through hacks and exploits. Over 80% of losses were tied to infrastructure intrusions such as compromised private keys and seed phrases, which were often made possible through social engineering tactics or insider threats.

The average hack size also doubled compared to 2024, as it hit $30 million during the same period. TRM noted that the Bybit incident in February, attributed to North Korean state-sponsored actors, was the largest crypto hack in history, as it accounted for nearly 70% of total losses. Beyond that mega theft, dozens of other attacks occurred in January, April, and May, with several exceeding $100 million each.