As more criminals resorted to violent house invasions to pilfers digital valuables, crypto theft is spiraling dangerously. According to blockchain investigator ZachXBT, offline crypto thefts have surged dramatically; several victims describe horrific events in which they were driven at gunpoint to hand their bitcoin to armed attackers. With events rising in regularity over recent months, Western Europe especially is seeing this alarming trend.
ZachXBT said in an October 10 update that victims of home invasion robberies—more especially, Western Europe—had sent him a flood of communications. Violence threats have driven crypto traders to turn over their holdings in these strikes. On September 27, ZachXBT sent a similar warning noting many instances of violent thefts aimed at well-known members of the crypto community.
One such example had a victim who lost $4.3 million in cryptocurrency during a June 2024 home invasion. ZachXBT said that a data hack let the attackers find and steal the victim by getting his address and personal details. Equipped with machetes, the thieves broke into the victim’s house posing as delivery drivers and forced him to unlock his crypto wallet, thereby distributing the money to two dormant addresses.
ZachXBT has advised traders to keep personal information and crypto holdings private, therefore helping to prevent more events by discouraging public asset discussion or social media wealth showcasing behavior. He underlined that using prudence may help to reduce the possibility of criminals aiming at you.
GitHub data suggests that offline crypto theft is increasing. Over the last year, we documented at least 15 events; in 2023, 17; in 2021, 32. Since these thefts sometimes include physical violence, crypto owners should give security top importance.
In a well-publicized example, former Revelo Intel CEO Nick Drakon disclosed on a September 5 social media post that he was being targeted by a coordinated gang that was surveilling and robbing him. The assailants threatened his family and made him move investor and personal money, which caused him to quit as CEO.
Not just Europe is where offline crypto theft presents a hazard. Recently, a Florida man was convicted in the United States of directing a gang responsible for violent house invasions between December 2022 and July 2023. To force victims to move their bitcoin to wallets run under criminal control, the gang threatened and employed force.
As these violent acts become more frequent, we counsel traders and investors in the crypto field to exercise additional care, manage their personal data, and be alert to protect both their digital assets and their personal safety.
