Blockchain investigator ZachXBT has reported a disturbing rise in messages from individuals claiming to be victims of in-person cryptocurrency robberies. In a post on October 10, ZachXBT stated that he has received numerous accounts of crypto-related home invasion thefts occurring “in Western Europe over the past few months at a much higher rate than in other regions.”
Alarming Trend of Home Invasion Thefts
ZachXBT’s concerns echo previous statements he made on September 27 via his Telegram channel, where he noted that several members of the crypto community have been held at gunpoint and had their cryptocurrencies stolen in recent months. This uptick in violence surrounding crypto assets underscores a troubling trend, as criminals increasingly target individuals in their homes to gain access to digital wealth.
ZachXBT has also uncovered information regarding a specific incident in June 2024, where a user on X (formerly Twitter) was robbed of $4.3 million in cryptocurrency during a home invasion. This robbery was facilitated by a data breach that allowed thieves to access the victim’s address and personal information, which they then used to track down their target.
- Robbery Tactics:
- Thieves conducted research on their victim.
- They posed as package deliverers to gain entry into the home, armed with machetes.
- Once inside, they forced the victim to open their crypto ledger and transfer funds to two wallet addresses, which, according to ZachXBT, remain dormant.
ZachXBT emphasized the importance of taking precautions to avoid becoming a victim of such crimes. He advised individuals to refrain from sharing personal information or details about their cryptocurrency holdings with friends or on social media platforms. This recommendation is critical in an environment where personal data can be exploited to facilitate targeted robberies.
| Recommendation | Details |
|---|---|
| Limit Information Sharing | Avoid discussing crypto holdings publicly or privately. |
| Enhance Home Security | Consider security systems to deter intruders. |
| Be Cautious of Package Deliveries | Verify the legitimacy of deliveries before opening doors. |
Documented Cases of Crypto Theft
According to GitHub, there have been at least 15 documented incidents of offline cryptocurrency robberies across various countries over the past year. This number is notable compared to 17 incidents recorded in 2023 and 32 in 2021. The online platform has tracked instances of in-person crypto theft dating back to 2014, when an unknown caller attempted to extort computer scientist and cryptographer Hal Finney for 1,000 Bitcoin, valued at $400,000 at the time.
In a more recent and alarming case, Nick Drakon, the former CEO of the crypto research and education platform Revelo Intel, claimed in a September 5 post on X that he was targeted and surveilled by a sophisticated criminal group. This group threatened his wife and eight-month-old son, leading Drakon to resign from his CEO position after revealing that he was held at gunpoint and forced to transfer both personal and company funds.
The rise in violent crimes targeting cryptocurrency holders has prompted legal actions against offenders. For example, on June 25, a Florida man was convicted for orchestrating multiple violent home invasions aimed specifically at stealing cryptocurrency. The gang he led reportedly employed tactics of violence, kidnapping, and intimidation to coerce victims into transferring their crypto holdings to wallet addresses controlled by the thieves.
The information provided by ZachXBT regarding the uptick in offline robberies targeting crypto traders serves as a critical reminder of the vulnerabilities that come with holding digital assets. As the landscape of cryptocurrency continues to grow, so too does the risk of targeted violence against individuals who possess significant holdings.
Investors and crypto enthusiasts must remain vigilant, employing protective measures and being cautious about the information they share. As incidents of in-person thefts become more frequent, community awareness and legal repercussions for offenders will play an essential role in addressing this alarming trend.
With cryptocurrency’s potential for significant wealth creation also comes an increasing need for personal security measures. By staying informed and taking appropriate precautions, individuals can better protect themselves against the growing threat of crypto-related crimes.
