This Crypto Investor Lost Nearly $4M in Ethereum (ETH) to Armed Robbers
The robbers were aware of the investor’s residence and knew he had crypto.
A cryptocurrency investor based in London has lost almost all his digital asset investments to armed robbers following a physical attack in his home.
An X post by the victim, pseudonymously named Ram, revealed that the three thieves were armed with machetes and forced him to transfer all his crypto to certain accounts.
Investor Loses $4M Crypto to Robbers
According to Ram, the robbers were aware of his residence and knew he had crypto. Upon arrival at his home, they forced him to open his Ledger wallet and transferred over $3.7 million worth of ether (ETH) to their addresses. Ram said he was lucky not to get stabbed.
“This just happened – 3 guys physically robbed me at my home. They were armed with machetes. They knew I had crypto and knew where I lived…I’m still in a state of shock. This is one of the worst experiences of my life,” the crypto investor stated.
Data from Etherscan shows the transactions moved 1,098 ETH from one address and 13 ETH from the other . With ETH trading at around $3,400 at the time of writing, the stash is collectively worth more than $3.77 million.
Due to the theft, Ram’s wallet addresses now hold less than $63,000 worth of crypto assets, including StakeWise (SWISE), Unibot (UNIBOT), USD Coin (USDC), Staked Aave, and FOX.
Kraken Investigating Incident
Through his tweet, Ram sought the help of on-chain sleuth ZachXBT and crypto exchanges Binance, Coinbase, and Kraken to recover the funds. Digital asset influencer and investor James Crypto Guru revealed that the thieves were selling the assets on Kraken through the Bitrefill payment gateway, tagging the exchange’s support team to look into the matter.
In response to James’ tweet, the Kraken Support team disclosed that they were investigating the situation; hence, Ram faces the possibility of recovering some of his stolen assets. Ram’s experience highlights the importance of investors keeping mum about their crypto holdings.
While offline crypto thefts are rare, online attacks have remained on the rise. Recently, decentralized finance protocol UwU Lend and omnichain tokenization platform Holograph lost $20 million and $14.4 million, respectively, after attackers exploited vulnerabilities in their smart contracts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ex-Goldman Sachs Exec Shares Positive Outlook on XRP Amid Legal Challenges
Cardano Hits $1 for the First Time in Two Years, Signaling Strong Market Momentum
XRP Soars as Ripple CEO Applauds Trump’s Treasury Secretary Nominee
Trump and Wall Street: How long will the love affair last?
Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.