Cryptocurrencies come with their own set of risks, both online through hacking and ransomware attacks as well as in real life incidents involving direct attacks against individuals. A notable incident took place on November 8th in Thailand when a Ukrainian visitor was victims of an armed robbery wherein an astounding $250,000 worth of USDT (Tether) was lost during a theft. Criminals targeting crypto owners with physical attacks continue to display boldness.
This tragic experience highlights the growing concern over physical attacks against individuals holding significant cryptocurrency assets. Following his horrific ordeal, the tourist sought assistance from local police.
Physical Crypto Theft: An Emerging Threat in Thailand
Crimes related to cryptocurrency have extended far beyond digital platforms, as evidenced by an ordeal of a young Ukrainian tourist visiting Thailand. His particular experience took a violent turn on Phuket’s sunny shores when foreigners engaged in an elaborately orchestrated extortion scheme against him.
23-year-old Viacheslav Leibov found himself in an extremely precarious situation when lured into a friend’s hotel room, only to be ambushed by attackers posing as friends of said friend and brandishing knives and hammers to threaten Leibov and force him into making money transfers to their wallets – under duress, Leibov transferred $250k USDT which they demanded before restraining him to bed and forbidding any contact with authorities; eventually managed to escape and alert authorities about this incident.
Rising Concern Over Cryptocurrency Extortion
Cybercrimes against cryptocurrency users are nothing new; however, their threat landscape has expanded with physical extortion and theft becoming increasingly frequent – particularly in popular tourist spots like Thailand. One alarming trend was highlighted recently with a massive crackdown on a group that engaged in multi-million USDT extortion case which involved members of local law enforcement amongst its perpetrators.
Crypto owners now face threats on multiple fronts, signaling a shift in security considerations for digital asset enthusiasts. Alongside virtual threats, physical risks of being targeted for one’s crypto holdings in public spaces or while traveling have become alarming realities for digital asset enthusiasts.
