London-based digital asset investors are currently facing security threats to their holdings as a new wave of “crypto heists” emerges.
Hijackers target crypto investors
According to recent Guardian reporting, London police have received countless anonymous reports from victims who lost huge sums of money in crypto after their phones were violently confiscated by muggers.
Armed with the knowledge that unlike bank transfers, crypto transactions are irreversible, the thieves target unsuspecting digital asset investors on the street, stealing funds from their digital wallets after forcing them to give up their phones.
In one of the reports, the victim was trying to order an Uber when muggers forced her to give up her phone. Although the gang eventually returned the phone, the victim found out that ETH £5,000 (about $6,170) worth was missing from her Coinbase account.
Another victim told police his phone and cards were stolen after a night out in a pub. He later discovered about £10,000 ($12,300) worth of crypto was stolen from his CryptoCom account. The victim pointed out that he logged into his cryptoWalletaccount and assumed the thieves had seen him key in his account PIN.
British police receive more training
Phil Ariss, head of the cryptocurrency team for the National Police Chiefs’ Council’s cybercrime program, said on the matter that law enforcement officers are currently receiving more training on how to identify a variety of crypto-related crimes.
Ariss further urged the public to exercise caution when accessing their crypto wallets, especially in public spaces. He said: “You wouldn’t walk down the street with £50 notes and count them. That should apply to people with crypto assets.”
David Gerard, the author of Attack on the 50 Foot Blockchain, also stressed that these crimes are increasing due to how some people are handling their digital assets. He pointed out that they don’t treat it like they treat other assets, including cash.
“People are holding stupid amounts of money in crypto in their accounts. They don’t think it’s money in any way,” he said.
Source: Crypto News Deutsch