Crypto muggings are on the rise in the UK, with perpetrators targeting not a person’s physical wallet, but their crypto wallets and smartphones.
Cryptocurrencies are proving more vulnerable than originally thought with muggers seizing smartphones and siphoning off cryptocurrencies.
There have been reports of thousands of pounds stolen already with anonymized crime reports trickling into London police stations.
Muggers have been attacking people on the street. One person was attacked while ordering an Uber with their phone seized and returned a few minutes after by a group of men who kept watch.
Upon receiving their phone back, the victim realized that around £5,000 worth of Ethereum had been stolen from the Coinbase wallet that was linked on the smartphone.
Some cases could be considered the victim’s fault. One man reported that he was approached by a group of men who offered to sell them illegal drugs.
He agreed to go to a dark alley where he was parted with his smartphone and as the victim later found out – some £6,000 worth of cryptocurrency.
Another victim was “vomiting under a bridge” when a mugger forced them to unlock their phone and stole £28,700 including cryptocurrency.
These cases have been proliferating across London with the victims usually found in isolated placed and or vulnerable predicaments, such as being intoxicating or looking ill.
There have been even more shocking accounts of such violence and theft. A Kent student was attacked in their university accommodation and forced to transfer £68,500 worth of cryptocurrency at a knife point.
Police are on the lookout but in the meantime, cold storage for your cryptocurrency may be the best option.