Crypto Robbery in Bali: Blogger Loses $284,000 in Bitcoin
A Russian blogger has suffered significant financial losses following a robbery incident in Bali.
The blogger, who is known for flaunting his extravagant lifestyle on social media, was threatened and physically attacked before being forced to transfer over $284,000 worth of Bitcoin to the criminals.
He promptly reported the incident to the authorities and shared CCTV footage, which helped in the capture of one suspect. However, the suspect was later released, and the blogger has received death threats from the perpetrators.
This incident is not isolated, as the rise of social media users showcasing their crypto trade has led to a spate of crypto muggings in the past four years.
Last year, the city of London police detailed how thousands of victims lost their crypto holdings to criminals who either robbed them or seized their phones after obtaining their login details.
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The blogger’s case highlights the dangers that investors may face in the volatile world of cryptocurrency. Experts advise investors to keep their investments private and avoid storing large amounts of cryptocurrency in a single wallet.
Setting up a private space on one’s phone and using a multi-signature wallet, such as Trezor and Coldcard, can also help to safeguard investments. Following the incident, the blogger made a plea to Indonesian citizens for help and support, as he and his wife were under maximum threat in Bali.