Ukrainian Man Forced to Transfer $250,000 in Crypto During Armed Robbery in Thailand

A Ukrainian national, Viacheslav Leibov, fell victim to a rare case of crypto theft through physical coercion in Phuket, Thailand. 

Armed assailants forced him to transfer 250,000 USDT, equivalent to 8.56 million baht, under the threat of violence. On November 11, four people were arrested in association with the robbery. 

An Unusual Way of Stealing Crypto

According to local reports, Leibov told local police that his ordeal began on Friday night when he visited his friend in his hotel room. Upon arrival, an Armenian man, Arman Grigoryan, 21, escorted Leibov to the room.

Initially, the group engaged in conversation on the balcony. However, the situation escalated when Leibov went to use the bathroom. Two masked individuals ambushed him, binding his limbs with ropes and cable ties. 

The robbers, armed with a hammer and knife, demanded Leibov transfer 500,000 USDT. Leibov negotiated to reduce the amount, transferring the 250,000 USDT as demanded. 

After completing the transfer, the attackers tied him to a bed and warned him against reporting the crime.

Once the assailants left, Leibov managed to free himself. He immediately rode his motorcycle and reported the incident to Kamala police.

Police arrested four suspects associated with the robbery on Monday. One of the suspects regularly purchased crypto, more specifically, USDT, from Leibov. He has prior knowledge about Leibov holding large sum of stablecoins, which led to this plot.  

The case highlights a growing concern about the physical targeting of individuals for their digital assets as crypto becomes more mainstream. 

Crypto Crimes Are Becoming More Diversified

With crypto adoption growing across most regions, the variety and sophistication of crimes are also increasing. There have been several occasions this year where criminals have used unconventional methods to steal cryptocurrency.

The Federal Trade Commission reported that scammers stole $65 million through Bitcoin ATM schemes in the first half of 2024. These scams involve fraudsters posing as bank or government officials, convincing victims to withdraw cash and deposit it into a Bitcoin ATM.

Recently, Binance also issued a global warning about a new threat called “Clipper malware.” As BeInCrypto previously reported, this malware alters wallet addresses during transactions. So, users might be sending their funds to a scammer’s wallet without realizing it. 

Earlier in August, reports emerged about scammers promoting a new malware on the macOS that targets crypto wallets like MetaMask. Scammers often promote this malware via Telegram and fake job offers. 

Conventional cyber-criminal gangs are also turning their attention to the crypto industry. Recent reports suggest that North Korea’s infamous Lazarus group and its affiliates are now targeting crypto firms through phishing campaigns.