Led 28

Masked Gunmen Steal ‘Fortune’ in Bitcoin in Daylight UK Robbery

· January 28, 2018 · 9:00 am

The very first UK Bitcoin robbery occurred when four armed men broke into a home and forced a crypto trader to transfer a “fortune” in Bitcoin.


The meteoric rise of Bitcoin over the course of 2017 featured a number of positive effects. A lot of people made a good deal of money, and media and public interest in cryptocurrency reached new heights. However, a downside to such attention is that criminals now see physically stealing Bitcoin or money used to buy crypto as a viable way to make money. A family in the UK found this out the hard way when four armed men broke into their home and forced the husband to transfer his bitcoins.

UK Bitcoin robbery

Terrifying Ordeal

It’s being called the first Bitcoin robbery in the UK, and it took place in Moulsford, Oxfordshire, a wealthy enclave, during the morning hours. The criminals broke into the home belonging to a cryptocurrency trader and his family.

The criminals were armed with handguns and wearing balaclavas. They tied up the trader’s wife and put the couple’s baby outside in a pram before forcing the trader to transfer over a “fortune” in bitcoins. (The exact amount that was stolen has not been disclosed.)

The criminals then fled, and the police manhunt began immediately after. A police helicopter was used in an effort to locate the hoodlums, but to no avail. Nearby schools were put on lockdown. Police are asking for any camera footage that shows four suspicious males in the area during the early morning hours.

One woman apparently saw the criminals. She describes:

I saw four young men in black tracksuits with the hoods pulled up, crossing the road to the property where it took place. They were aged 18 to 25, dark-skinned and super-fit. They jumped over the fence on the other side of the road. I didn’t see any gun, but that’s what people locally are saying – and that the men wore balaclavas which I didn’t see either, just the hoodies pulled up.

Bitcoin robbery

Media Hyperventilates on Bitcoin

Fortunately, no one in the family was injured during the Bitcoin robbery. Since the media has no blood and gore to wheeze on about, they’re drudging back up the same old tired talking points that Bitcoin is used mainly for illicit means.

Naturally, this is ludicrous as the blockchain is pure transparency. The UK-based cybersecurity firm Elliptic recently released a report that shows less than 1% of all Bitcoin transactions originate for criminal reasons. Of course, hard facts do little to hinder media speculation on Bitcoin and illegal activities.

While the rise of cryptocurrencies is tremendous, there is a dark side. There’s been a number of recent criminal attacks upon individuals with a connection to crypto. There has been a kidnapping and multiple accounts of robberies over the last month or so. Sadly, such instances are likely to continue as long as cryptocurrencies continue to gain in value.

Are you worried about the seeming rise of Bitcoin robberies? What can be done to stop them? Let us know your thoughts in the comments below.


Images courtesy of Pxhere and Bitcoinist archives.

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Led 25

Ottawa Police Hunting for Armed Bitcoin Robbery Suspects

· January 25, 2018 · 8:00 am

Police in Ottawa, Canada, are on the manhunt for armed Bitcoin robbery suspects who staged an attempted daylight robbery of a Bitcoin financial business.


The world of crypto can become a dangerous place at times. This usually occurs when someone ventures out to personally buy bitcoins from an buyer they do not know, all the while carrying quite a bit of cash. Yet even a cryptocurrency business is not a safe guarantee, as was evident by Ukrainian police seizing crypto assets from the Forklog founder recently. The latest incident of a Bitcoin robbery took place in Ottawa, Canada, where armed men tried to rob a Bitcoin business.

Gunning for Bitcoin

On January 23rd, three men entered a Bitcoin financial business located in an industrial park in Ottawa at around 11am. (So far, the business has not been named in media reports.) All three men were armed with handguns.

The robbers took control of four employees that worked at the business and bound them. One of the bound employees was hit in the head with a pistol during the ordeal. (The employee later required some medical attention at the hospital.) A fifth employee was not detected by the criminals, and he was able to contact the police.

Armed Hosers on the Loose

The criminals then fled the business empty-handed. Police noted that one of the Bitcoin robbery suspects fled into a nearby ravine. They were then able to track him down and arrest him. The suspect has been identified as 19-year-old Jimmy St-Hilaire. He’s been charged with the following crimes:

  • Five (5) counts of robbery with a firearm
  • Five (5) counts of point a firearm
  • Five (5) counts of forcible confinement
  • Wear disguise
  • Conspiracy to Commit and indictable offence
  • Carry concealed weapon
  • Possess firearm while prohibited
  • Possess weapon for committing an offence
  • Possess loaded regulated firearm

The other two criminals are still on the lam, and the police are putting on a massive manhunt looking for them. The Ottawa police are also looking for a person of interest who was in the business when the robbery began but who later fled the scene. People who work at other businesses within the industrial park have been shaken by the Bitcoin robbery attempt, especially as it took place during daylight hours.

One wonders what the criminals were hoping to gain from the robbery. It may be that the business had cash on hand to handle cryptocurrency buying and selling. Perhaps they were hoping to force the employees to transfer funds to a specific address. Whatever the reason for the robbery attempt, it is fortunate that the employees were not seriously hurt.

Overall, the public’s fascination with Bitcoin, along with the massive gains it made in 2017, have emboldened some criminals to physically rob or even kidnap people in order to obtain some ill-gotten gains.

Will crypto robbery attempts become an everyday occurrence? Let us know your thoughts in the comments below.


Images courtesy of Twitter/@JudyTrinhCBC and Pexels.

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Říj 02

Police in New Delhi Arrest Gang Robbing Bitcoin Buyers

· October 1, 2017 · 10:00 pm

A group of six individuals in New Delhi, India, have been arrested by the police for robbing people that they had convinced were buying Bitcoin with actual cash.


Just when you think it’s safe to buy Bitcoin and other digital currencies, you hear horror stories about being robbed in some sort of online scam or Ponzi scheme. The decentralized nature of cryptocurrency means that those looking to get involved in it must do their due diligence and always be aware of potential risks. However, such situations are a far cry from what some people in New Delhi, India, experienced as they were robbed while attempting to buy Bitcoin from some unscrupulous people.

What Can Go Wrong Buying Bitcoin with Cash from Strangers?

Police in New Delhi, India, arrested a gang of six individuals who had targeted people interested in buying Bitcoin. The leader of the group is Aditya Rajput, who is a law graduate from Dehradun. Overall, police recovered numerous SIM cards, eight mobile phones, jewelry, and lakhs of rupees in cash (lakhs are the equivalent of one hundred thousand rupees). A spokesman for the New Delhi police described how the crimes would go down thusly:

This module used to contact interested party through phone calls and Facebook messages and convinced the buyers to deal in cash for buying the Bitcoin. Once, they convinced the buyer and called them to the designated place, the other gang members would came into action…and…would then rob the victim.

So far, the police have identified seven victims of this Bitcoin robbery scam.

Bitcoin Rising in India

It’s understandable for individuals in India to be interested in Bitcoin. The economy was thrown into some turmoil last year when Prime Minister Narendra Modi decided to ban the two largest banknotes in the country to fight terrorism, corruption, and tax evaders. This move had a huge impact upon everyday life for Indians as the amount of money in circulation was drastically curtailed and the amount available to be withdrawn from ATMs was severely cut as well. This led to a noticeable increase in the use of Bitcoin and other cryptocurrencies. Bollywood has endorsed digital currencies, and the government is now actually considering issuing an official Indian cryptocurrency of its own.

That being said, it does seem remarkably foolish to physically meet someone to trade cash for some Bitcoin. The person making the criminal complaint first wanted to purchase Bitcoin through a website but was lured to a meeting in a mall (from where he was then kidnapped) where he was supposed to be able to buy Bitcoin at the rate of roughly $1,100 USD per Bitcoin. One would say that getting a Bitcoin for a percentage of the current market rate would be a red flag. Having to meet someone in person while carrying at least a thousand dollars in cash to undertake the transaction should have thrown up some more red flags. However, greed often wins out, but at least those robbed did not suffer more dire consequences.

What do you think about the robberies of potential Bitcoin buyers in New Delhi, India? Would you meet with someone with a lot of cash under such circumstances? Let us know in the comments below.


Images courtesy of Wikimedia Commons, Flickr, and Bitcoinist archives.

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