ZachXBT Warns of Increasing Cases of Offline Crypto Theft
Blockchain detective ZachXBT warned against the surge in cases involving in-person crypto theft, particularly in Western Europe. Events so far have left traders at the mercy of miscreants that have shifted from hacking to violent home invasions.
Increasing Home Invasion Robberies
In an Oct. 10 post, ZachXBT claimed he has received dozens of messages from supposed victims who say they have become the target of a house invasion wherein thieves take their cryptocurrency at gunpoint. He further added that such incidents are happening more frequently than in other regions and reiterated his concern in a Sept. 27 statement on Telegram.
Evidence Suggests Data Breaches
ZachXBT also exposed that one of the victims, who was robbed of $4.3 million in crypto in a June 2024 home invasion, had his address exposed after a data breach. The thieves allegedly used the stolen information to track the victim and rob him.
Offline Crypto Robbery Protection Measures
In turn, ZachXBT recommended extremely cautious trading, which involves not sharing personal information related to their crypto holdings and paying more attention to online presence. He emphasized how discretion in their crypto investments could generally reduce the chances of being the target of such an attack.
A Rise in Global Crypto Robberies
The trend of in-person crypto theft data by GitHub is pretty concerning. At least 15 offline crypto robbery incidents have taken place in the past year, and 17 were noted this year against 32 last year. Therefore, there is a need to increase security among traders in the field of crypto.
Notable Cases of Crypto Theft
A recent incident was when Nick Drakon, ex-CEO of Revelo Intel, on Sept. 5 reported being under surveillance and robbed by an enormously sophisticated group. In that process, his family was threatened to force him to resign from his role and wire substantial personal and investor funds to the robbers.
The same twist of events happened with a man in Florida, convicted of orchestrating several violent home invasions between December 2022 and July 2023, using force with his gang to steal cryptocurrency.
