Kidnappings and home invasions highlight need for enhanced physical security in crypto

While there is plenty of information online about securing your digital assets, less is written about the physical threat to crypto and Bitcoin holders. Over the past few years, there has been a worrying uptick in physical attacks on crypto holders.

In February, the arrest of five Russian men in Phuket highlights this concerning trend of violent crimes targeting crypto holders. According to local authorities, the suspects allegedly abducted a Belarusian couple, compelling them to transfer approximately 31 million baht ($901,200) in crypto before releasing them. The incident occurred near the Lor Rong intersection in Muang district, where the couple was taken in a black Hyundai van after being intercepted on their motorcycle.

Initial investigations led to the detention of four individuals, with two suspects captured at Phuket airport while attempting to flee the country. The fifth suspect believed to be the ringleader, was later apprehended at a massage parlor on Patong Beach. All five have been charged with robbery, coercion, and illegal detention, among other offenses.

This month, in Hong Kong, two women were arrested for allegedly kidnapping a three-year-old boy and demanding a ransom of over HK$5 million in crypto. The child was rescued unharmed, and the suspects were detained for further investigation.

In another high-profile case, a violent gang in the United States was convicted for a series of home invasions targeting crypto holders. The group’s activities, marked by extreme violence and coercion, involved multiple victims across several states. The gang’s actions included threatening victims with physical harm and demanding access to their crypto holdings.

Another incident involved a crypto angel investor who was the victim of a home invasion earlier this year. The attackers forced them to unlock a Ledger device. The person, who wishes to remain anonymous due to the ongoing investigation, told CryptoSlate, “I never ever thought this would be an attack…