8 Bitcoin Thefts That Will Make You Think About Your Crypto Wallet Security

Crypto assets, including Bitcoin, still have a long way to go when it comes to security. If you trust your cold wallet is completely safe from thieves, these 8 crypto theft stories will change your mind.

According to Forbes, physical Bitcoin thefts are rare, but they are still the fourth leading cause of cryptocurrency loss. Likewise, Guardian found that the streets of London have seen an increase in “crypto robberies”. Indeed, many criminals steal their victims’ phones to access their crypto wallet.

Jameson Lopp, software engineer and Bitcoin supporter, has compiled a list of physical attacks/thefts against BTC investors. Here she is.

January: attempted theft of a Bitcoin ATM

In Memphis, USA, police caught a group of people stealing a ATMs Bitcoin at a gas station. According to the authoritiesthe respondents allegedly broke a truck through the windows of the station to remove the ATM.

It was only when they arrived at the police station that they realized that the vending machine did not contain BTC.

Short: hijackers demand a ransom in BTC

In Pune, India, authorities arrested eight people, including a policeman, for kidnapping a man and demanding a ransom in Bitcoin.

According to local resourcesthe criminals allegedly held the victim hostage for $36.6 million in BTC.

March: A crypto trader is robbed

In March, Dubai Police has stopped four men for stealing BTC from a trader.

The defendants paid a fine of 1.7 million dirhams (over $462,000)the amount they were trying to steal by threatening their victim with a bladed weapon.

April: theft of private keys

The fourth flight took place in Canada. In Aprill, armed people entered the home of a crypto investor in the residential neighborhood of Canyon Meadows in Alberta. After stealing some items, the perpetrators found and stole the private keys of crypto wallet of their victim.

According to local media, the victim was slightly injured.

May: Bitcoin mining machine stolen

In Malaysia, twelve men were arrested for theft crypto mining hardware. The theft is said to have cost the owner several hundred thousand ringgit.

The arrest comes after a complaint made by the owner of an aluminum production company. The victim claims that his factory was robbed twice and that 180 Bitcoin mining machines were stolen.

July: a fake Bitcoin deal

Two people have been sentenced for the robbery of a businessman and his friend. incident took place in Dubai after the businessman contacted a promoter to execute a physical fiat-BTC transaction.

The two men assaulted the victim and seized a bag containing Dh183,000 (approximately $49,800), three phones, papers and checks.

September: Bitcoin robbery at gunpoint

In September, British police has stopped three people for trying to steal an investor’s crypto. According to local media, the three people have been charged with carrying weapons “with the intent to cause harm to others and to steal crypto assets.”

December: a man forced to reveal his password

A Russian businessman reported to the police that hooded men forced him to reveal his password in the cold wallet after stealing it from his car. The wallet contained 250 BTC (about $17 million).

According to the victim, the incident took place in Moscow an unidentified place where he was dragged by his captors.


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