Crypto Tycoon Tim Heath Foils Kidnapping Attempt by Biting Off Attacker’s Finger

Australian crypto billionaire Tim Heath narrowly escaped a violent kidnapping attempt in Tallinn, Estonia, last July by biting off part of an attacker’s finger, an Estonian court heard this week.

The chilling incident highlights the growing wave of targeted abductions against wealthy crypto figures in 2025, which has forced many executives to bolster their security measures.

Heath, a prominent investor and founder of the Estonian-based Yolo Group, was ambushed by two men disguised as painters in the stairwell of his apartment building.

Ex-Boxer Tries to Muzzle Crypto Tycoon in Failed Kidnapping

According to testimony cited by Estonian outlet Eesti Ekspress and the Sydney Morning Herald, one of the attackers, Azerbaijani national Allahverdi Allahverdiyev, a former boxer and wrestler, tried to silence Heath by covering his mouth.

In a desperate act of self-defense, Heath bit through Allahverdiyev’s index finger, managing to break free and retreat into his apartment.

The struggle, which lasted about 30 seconds, cost Heath a tooth but forced the kidnappers to flee.

The attackers abandoned a rented van nearby, and police later discovered part of Allahverdiyev’s severed finger about 100 meters from the scene.

Court documents revealed the attackers had been stalking Heath in the weeks before the assault, both physically and with a GPS tracker placed on his vehicle.

The group allegedly planned to force Heath into the van, transport him to a rented sauna house, and coerce him into transferring his crypto holdings.

This is David Balland.

He co-founded Ledger, one of the biggest companies in crypto

This week, he was kidnapped and tortured

Here’s the full story of what happened: (and why it’s a wake-up call for everyone in crypto) pic.twitter.com/0NpLlN8aZm

— Pix🔎 (@PixOnChain) January 24, 2025

Prosecutors say a hacker was also involved to expedite the digital theft.

The group of seven suspects reportedly entered Estonia using fake Georgian passports.

In the days before the attack, they bought painters’ uniforms and equipment to pose as workmen.

Two men have been arrested so far: Allahverdiyev and Georgian citizen Ilgar Mamedov, who prosecutors claim was the getaway driver.

Mamedov has denied involvement, insisting he ended up in Estonia by accident. Three other suspects remain unidentified, and two, including the alleged ringleader Najaf Najafli, are wanted by authorities.

Kidnappers Demanded 30 Bitcoin After Failed Abduction

After the failed abduction, Heath allegedly received a Telegram message containing photos of his apartment along with a demand for 30 Bitcoin, worth about $3.3 million at the time.

When Heath didn’t respond, there were no further attempts to contact him, but prosecutors argue the threat could still be active.

Heath has since spent over $3.1 million on private security and relocated to a new home.

His legal team is pursuing reimbursement of these costs from the accused kidnappers as the court case continues in Estonia.

The recent attack follows a more brutal incident on May 1, when four masked men abducted the father of a crypto entrepreneur in Paris, cutting off one of his fingers before police intervened.

In another incident, the father of a crypto millionaire was brutally attacked. And in New York, a tourist was tortured for over two weeks as kidnappers tried to extract his Bitcoin credentials.