$250K in Crypto Stolen from Ukrainian Man in Thailand, Days After Devcon Warning

A Ukrainian man in Thailand reported to police on Sunday, November 10, that he was coerced into transferring $250,000 worth of USDT to armed men during a violent encounter on a southern tourist island.

A Ukrainian man told police he visited a friend's room on this southern tourist island and was forced to transfer cryptocurrency worth more than 8 million baht to a group of armed men.

Listen to the story or get the full story in the 1st comment.#ukrainian #tourist #phuket… pic.twitter.com/CWIOhV37pw

— Bangkok Post (@BangkokPostNews) November 10, 2024

The alarming robbery, first reported by Bangkok Post, highlights the increasing risks of crypto-related crimes, echoing recent warnings by blockchain investigator ZachXBT.

Thailand Crypto Theft: Ukrainian Man Loses $250K in USDT

The robbery took place on November 8 when 23-year-old Viacheslav Leibov visited his friend Alfred Chernyshuk, 18, at a hotel around 10:45 p.m.

An Armenian acquaintance, Arman Grigoryan, invited him inside. What began as a routine social visit quickly turned dangerous.

Leibov recounted that after speaking with the two men on the balcony, a trip to the restroom became a setup for violence.

Upon opening the door, he was ambushed by two masked men, who tied his limbs with ropes and demanded he transfer $500,000 worth of USDT to their crypto wallet, threatening to break his fingers if he refused.

Negotiating with the attackers, Leibov ultimately transferred $250,000 in USDT.

The ordeal did not end there. The attackers tied Leibov to a bed, warned him to remain silent, and fled the scene.

After freeing himself, Leibov rushed to Phuket airport in a failed attempt to locate the suspects before reporting the incident to the Kamala police station.

Crypto Theft Surge Raises Global Concerns

This incident in Thailand aligns with a larger trend of escalating violent crypto crimes, as highlighted by ZachXBT.

7/ While this is a cautionary tale and hopefully this will help lead to arrests here are some measures you can take to protect yourself.

>Avoid sharing personal information or details about your crypto holdings to “friends” or to flex on social media

>Monitor your personal… pic.twitter.com/NBHdZB3kGk

— ZachXBT (@zachxbt) October 10, 2024

In recent months, there has been an uptick in crypto-related home invasions, particularly in Western Europe.

One notable case involved armed intruders posing as delivery workers, forcing a victim to transfer $4.3 million in cryptocurrency after gaining access to their home.

1/ An investigation into Faris Ali (Zay/Tommy) from the UK and his alleged involvement in robbing an X user out of $4.3M in June 2024 during a home invasion as the result of a crypto data breach. pic.twitter.com/aaFKSkeFdA

— ZachXBT (@zachxbt) October 10, 2024

ZachXBT has urged crypto traders to exercise caution, warning against publicly sharing details about their holdings or discussing them even with close acquaintances.

U.S. Authorities Respond to Crypto Theft Cases

The rise in crypto theft has also been a growing concern in the United States. The Department of Justice (DOJ) has been pursuing cases of violent cryptocurrency robberies to set legal precedents.

On September 13, the U.S. Department of Justice announced sentencing for Remy Ra St Felix and others involved in a $3.5 million crypto theft, where victims faced physical threats and forced asset transfers through SIM-swapping and home invasions.

During these attacks, victims were bound and coerced to transfer assets to the attackers’ digital wallets.

Today the United States Department of Justice announced the conviction of Remy St. Felix. St. Felix is accused of being the mastermind behind a string of violent home invasions targeting individuals possessing large quantites of cryptocurrency.

Prosecutors state St. Felix…

— vx-underground (@vxunderground) September 11, 2024

In October 2024, Eric Council, Jr. was arrested for his involvement in a SIM swap attack and access fraud scheme that manipulated the price of Bitcoin in January 2024.

Council allegedly used the SEC’s official X account to post a tweet claiming that the spot Bitcoin ETF had been approved, which resulted in a $1,000 surge in Bitcoin’s price.

Earlier, in June 2024, another SIM swapping incident occurred when hackers stole funds from OKX users.

The attackers allegedly sent a fake notification that appeared to be from Hong Kong, tricking the victims into creating new API keys with withdrawal and trading permissions.

These troubling cases highlight the persistent risk of SIM swapping and crypto-related crimes, with criminals exploiting weaknesses in digital systems.

Both authorities and individuals must be proactive in safeguarding against future attacks.