Blockchain investigator ZachXBT warns of an increase in offline crypto thefts, with victims targeted in home invasions across Europe.
Increasing Trend in Crypto Robberies
ZachXBT, a well-known blockchain investigator, recently reported an uptick in offline crypto theft incidents. In recent months, the frequency of in-person robberies has increased, particularly in Western Europe. According to ZachXBT, he has received numerous reports from victims who experienced violent home invasions in which they were forced to hand over their cryptocurrency assets.
Home Invasions Targeting Crypto Traders
In an October 10 post, ZachXBT revealed how criminals have become more brazen, directly targeting crypto traders at their homes. He cited several cases in which victims were forced to transfer their crypto assets at gunpoint or after violent threats. These incidents highlight a dangerous shift in how thieves approach their crimes, moving from online hacking to physical attacks.
Personal Information Leaks Fuel Robberies
ZachXBT also uncovered evidence linking these crimes to data breaches. In one instance, a victim lost $4.3 million in a home invasion after the thieves obtained their personal information through a data leak. The attackers reportedly researched the victim before posing as delivery personnel to gain access to their home. Once inside, they used machetes to intimidate the victim into transferring crypto from their ledger to the criminals’ wallets. The stolen assets remain dormant, according to ZachXBT’s investigation.
Precautionary Measures for Crypto Holders
Following these incidents, ZachXBT has urged crypto holders to take extra precautions. He advises against sharing personal information, especially details about crypto holdings, whether with friends or on social media. Keeping such information private can reduce the likelihood of becoming a target.
Statistics on Offline Crypto Theft
Recent data from GitHub further supports ZachXBT’s claims. The platform has documented at least 15 in-person crypto theft incidents within the past year. In 2023, 17 such cases were recorded, while 2021 saw a staggering 32 incidents. These numbers indicate a growing trend of offline attacks on crypto traders worldwide.
High-Profile Cases of Crypto Robbery
In a notable case, Nick Drakon, former CEO of Revelo Intel, shared his experience of being robbed. On September 5, he posted on X, formerly Twitter, about being targeted by a highly sophisticated group. Drakon was held at gunpoint and forced to transfer both personal and investor funds. The traumatic incident led him to step down from his position as CEO.
Violent Gangs Targeting Crypto Traders
Another alarming incident involved a Florida man who was convicted on June 25 for leading violent home invasions. His gang used violence, kidnapping, and threats to force victims into transferring their crypto holdings. These crimes, spanning from December 2022 to July 2023, exemplify the extreme lengths criminals are willing to go in order to steal digital assets.
A Call for Greater Security
The rise in offline crypto thefts is a serious concern for the crypto community. ZachXBT’s warnings highlight the importance of securing not just online transactions but also physical safety. Crypto holders should remain vigilant and adopt security measures to protect themselves from becoming victims of these increasingly violent crimes.
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