Crypto investor loses $4M in physical robbery

The person was assaulted at their home in a London apartment, with the robbers aware of his crypto holdings

The anonymous X user, going by the handler of Ram, said that they were attacked at their home, and they were asked to hand over the crypto wallet containing the equivalent of $4 million of Ethereum.

The criminals requested that Ram transfer all of their crypto funds. In the victim’s account, they were not aware of his full portfolio and holdings. He had been using a Ledger wallet that the criminals would not have been able to crack on their own, brandishing a night to make him comply..

Ram said that they were lucky not to get stabbed while the robbery was taking place, as the attackers seemed agitated. “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,” he shared in the post.

The criminals went only after the Ethereum it seems, as Ram’s wallet still has $63,000 worth of various other cryptocurrencies, including USD Coin, Stake Aave, FOX, Unibot, and more.

The incident is already being investigated by some of the most formidable investigators who deal with instances of fraud or theft. ZachXBT, an anonymous crypto sleuth, has confirmed that they are on the case as well. Crypto exchanges have also publicly vowed to get to the bottom of the issue and try to see where the Ethereum had been moved to or who may physically own it.

Binance, Coinbase and Kraken are already on case. Kraken’s support team has confirmed that it is involved and will seek to find out who the criminals may be. Physical theft of crypto funds is exceedingly rare. The people perpetrating it ought to know that the victim has Ethereum.

Nothing in Ram’s identity suggests that he was a well-known crypto holder, which means that the most likely culprit must be traced to someone who knew either first-hand or through friends that the victim had the funds.

Although the case may seem a little hopeless, crypto sleuths and law enforcement have become increasingly adept at catching criminals. Dutch authorities recently caught a person responsible for the ZKasino debacle.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.