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Hostage-taking, assaults, and fights are the new reality for crypto investors.
Between 2014 and 2024, the global spread of cryptocurrency led to an increase in physical violence against digital asset owners. Criminal elements find ways to gain access to large sums in bitcoin and other cryptocurrencies through physical attacks, kidnappings, and extortion. This trend demonstrates that security in the world of digital assets should cover not only the virtual sphere, but also the physical one.
The beginning of the attacks: the first incidents
One of the earliest known Bitcoin-related attacks was in 2014, when Bitcoin developer Hal Finney was the victim of a false police call, the so-called "SWATting" method. Finney was under a lot of stress due to the sudden appearance of special forces at his home. This was the beginning of a series of similar crimes aimed at cryptocurrency owners.
In 2015, reports of robberies of bitcoin ATMs began to appear in cities such as New York and Amsterdam. The thieves used physical force and weapons to open ATMs and steal the contents. In addition, bitcoin traders began to face armed attacks during transactions on cryptocurrency exchanges. Criminals preferred to attack them in public places, using the effect of surprise.
New methods: kidnapping and extortion
With the growing popularity of cryptocurrencies, attackers have begun to employ more sophisticated attack methods, including kidnappings and brutal forms of extortion. In Brazil, in 2017, the wife of the owner of a cryptocurrency exchange was kidnapped, and in India, kidnappers in police uniforms robbed three traders. In Japan, a woman was the victim of an attack to steal 100,000 yen worth of bitcoins, and in Ukraine, a man was tortured to obtain $50,000 worth of cryptocurrency.
There is also a well-known case when in 2018, blogger Pavel Nyashin, who boasted of his cryptocurrency wealth, was beaten and robbed in the amount of $425,000. Incidents like these underscore how important it is to keep your cryptocurrency investments private.
Increased aggression: brutal attacks
In 2018, the attacks became even more audacious. In the UK and Ukraine, armed incursions into the homes of cryptocurrency owners have been recorded, when attackers threatened with weapons to force victims to hand over access to their cryptocurrency wallets. For example, in England, armed men broke into the house of a trader and his family, demanding that he transfer bitcoins.
Attacks began to occur not only on individuals, but also on cryptocurrency companies and exchanges. In Canada, there was an armed attack on a cryptocurrency exchanger, which ended in failure for the criminals. But this incident was far from isolated: robberies of crypto ATMs and offices of cryptocurrency exchanges took place in many countries.
Escalation in Asia and the Middle East
Asia and the Middle East have become some of the most vulnerable regions for such crimes. In Dubai, attacks on cryptocurrency owners have been repeatedly recorded, who were kidnapped and tortured in order to gain access to digital assets. For example, criminals broke into traders' offices or arranged meetings to buy cryptocurrency, which ended in kidnappings and extortion.
There have also been many cases of attacks on cryptocurrency owners in Thailand. In one of them, a crypto investor was kidnapped and tortured for several days, demanding the transfer of bitcoins. Similar attacks have also been reported in Hong Kong, India and elsewhere in the region.
Attacks in Europe and North America
Europe and North America also did not escape the wave of crime. In the UK, armed attacks on cryptocurrency traders and kidnappings for extortion have been recorded. In Germany and the Netherlands, attacks on owners of bitcoin ATMs were recorded, and in Spain, criminals took people hostage in order to extort large sums in bitcoins.
Dozens of cases of armed robberies and kidnappings related to cryptocurrency have been reported in the United States. For example, in Florida, a crypto trader was the victim of a $28,000 armed robbery, and in Los Angeles, criminals with weapons introduced themselves as FBI agents and demanded the password to his crypto wallet from the victim.
Recent incidents and emerging trends
In recent years, the aggression of criminals has intensified, and attackers began to attack not only cryptocurrency owners, but also their families. In Thailand, in 2024, a married couple was kidnapped, from whom criminals extorted cryptocurrency in exchange for release. In Canada, robbers broke into a family's home, tied up and beat the victims, demanding to transfer significant amounts of cryptocurrency.
All cases indicate that attackers have become more sophisticated, and attacks on cryptocurrency owners have become more aggressive and dangerous.
General conclusions
Almost all attacks involve extortion and physical violence in order to gain access to large sums of cryptocurrencies. Criminals often resort to armed home invasions, kidnappings, torture, and threats to force victims to provide access to their cryptocurrency wallets or exchanges.
Such cases highlight the vulnerability of digital asset owners to physical threats and the need for not only technical, but also physical security when owning and using cryptocurrencies.
Source
Between 2014 and 2024, the global spread of cryptocurrency led to an increase in physical violence against digital asset owners. Criminal elements find ways to gain access to large sums in bitcoin and other cryptocurrencies through physical attacks, kidnappings, and extortion. This trend demonstrates that security in the world of digital assets should cover not only the virtual sphere, but also the physical one.
The beginning of the attacks: the first incidents
One of the earliest known Bitcoin-related attacks was in 2014, when Bitcoin developer Hal Finney was the victim of a false police call, the so-called "SWATting" method. Finney was under a lot of stress due to the sudden appearance of special forces at his home. This was the beginning of a series of similar crimes aimed at cryptocurrency owners.
In 2015, reports of robberies of bitcoin ATMs began to appear in cities such as New York and Amsterdam. The thieves used physical force and weapons to open ATMs and steal the contents. In addition, bitcoin traders began to face armed attacks during transactions on cryptocurrency exchanges. Criminals preferred to attack them in public places, using the effect of surprise.
New methods: kidnapping and extortion
With the growing popularity of cryptocurrencies, attackers have begun to employ more sophisticated attack methods, including kidnappings and brutal forms of extortion. In Brazil, in 2017, the wife of the owner of a cryptocurrency exchange was kidnapped, and in India, kidnappers in police uniforms robbed three traders. In Japan, a woman was the victim of an attack to steal 100,000 yen worth of bitcoins, and in Ukraine, a man was tortured to obtain $50,000 worth of cryptocurrency.
There is also a well-known case when in 2018, blogger Pavel Nyashin, who boasted of his cryptocurrency wealth, was beaten and robbed in the amount of $425,000. Incidents like these underscore how important it is to keep your cryptocurrency investments private.
Increased aggression: brutal attacks
In 2018, the attacks became even more audacious. In the UK and Ukraine, armed incursions into the homes of cryptocurrency owners have been recorded, when attackers threatened with weapons to force victims to hand over access to their cryptocurrency wallets. For example, in England, armed men broke into the house of a trader and his family, demanding that he transfer bitcoins.
Attacks began to occur not only on individuals, but also on cryptocurrency companies and exchanges. In Canada, there was an armed attack on a cryptocurrency exchanger, which ended in failure for the criminals. But this incident was far from isolated: robberies of crypto ATMs and offices of cryptocurrency exchanges took place in many countries.
Escalation in Asia and the Middle East
Asia and the Middle East have become some of the most vulnerable regions for such crimes. In Dubai, attacks on cryptocurrency owners have been repeatedly recorded, who were kidnapped and tortured in order to gain access to digital assets. For example, criminals broke into traders' offices or arranged meetings to buy cryptocurrency, which ended in kidnappings and extortion.
There have also been many cases of attacks on cryptocurrency owners in Thailand. In one of them, a crypto investor was kidnapped and tortured for several days, demanding the transfer of bitcoins. Similar attacks have also been reported in Hong Kong, India and elsewhere in the region.
Attacks in Europe and North America
Europe and North America also did not escape the wave of crime. In the UK, armed attacks on cryptocurrency traders and kidnappings for extortion have been recorded. In Germany and the Netherlands, attacks on owners of bitcoin ATMs were recorded, and in Spain, criminals took people hostage in order to extort large sums in bitcoins.
Dozens of cases of armed robberies and kidnappings related to cryptocurrency have been reported in the United States. For example, in Florida, a crypto trader was the victim of a $28,000 armed robbery, and in Los Angeles, criminals with weapons introduced themselves as FBI agents and demanded the password to his crypto wallet from the victim.
Recent incidents and emerging trends
In recent years, the aggression of criminals has intensified, and attackers began to attack not only cryptocurrency owners, but also their families. In Thailand, in 2024, a married couple was kidnapped, from whom criminals extorted cryptocurrency in exchange for release. In Canada, robbers broke into a family's home, tied up and beat the victims, demanding to transfer significant amounts of cryptocurrency.
All cases indicate that attackers have become more sophisticated, and attacks on cryptocurrency owners have become more aggressive and dangerous.
General conclusions
Almost all attacks involve extortion and physical violence in order to gain access to large sums of cryptocurrencies. Criminals often resort to armed home invasions, kidnappings, torture, and threats to force victims to provide access to their cryptocurrency wallets or exchanges.
Such cases highlight the vulnerability of digital asset owners to physical threats and the need for not only technical, but also physical security when owning and using cryptocurrencies.
Source
