This crypto investor lost nearly $4 million in Ethereum (ETH) to armed robbers

A London-based cryptocurrency investor has lost almost all of his investments in digital assets to armed robbers after a physical attack on his home.

An X post by the victim, using the pseudonym Ram, revealed that the three robbers were armed with machetes and forced him to transfer all his crypto to certain accounts.

Investor loses $4 million worth of crypto to thieves

According to Ram, the thieves were aware of his residence and knew that he had crypto. Upon arriving at his home, they forced him to open his Ledger wallet and transferred over $3.7 million of Ether (ETH) to his addresses. Ram said he was lucky not to get stabbed.

“This just happened: 3 guys physically robbed my house. They were armed with machetes. They knew I had crypto and they knew where I lived… I’m still in shock. This is one of the worst experiences of my life ” said the crypto investor.

Etherscan data shows that the transactions moved 1,098 ETH from one address and 13 ETH from the other. With ETH trading around $3,400 at the time of writing, the storage is collectively worth more than $3.77 million.

Due to the theft, Ram’s wallet addresses now have crypto assets worth less than $63,000, including StakeWise (SWISE), Unibot (UNIBOT), USD Coin (USDC), Staked Aave, and FOX.

Kraken investigating the incident

Through his tweet, Ram sought the help of chain detective 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 to Kraken through the Bitrefill payment gateway, tagging the exchange’s support team to investigate the matter.

In response to James’ tweet, Kraken’s support team revealed that they were investigating the situation; therefore, Ram is faced with the possibility of recovering some of his stolen property. Ram’s experience highlights the importance of investors keeping mum about their crypto holdings.

While offline crypto theft is rare, online attacks have continued to increase. 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.

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