Ukrainian man forced to transfer $250K in crypto in robbery

In Phuket, Thailand, a Ukrainian man named Viacheslav Leibov was coerced into transferring $250,000 in USDT (CRYPTO:USDT) during an armed robbery.

The rare incident of crypto theft through physical coercion unfolded on Friday night when Leibov visited a friend’s hotel room.

Upon arriving, he was greeted by 21-year-old Armenian, Arman Grigoryan.

After casual conversation on the balcony, Leibov went to the bathroom, where two masked men ambushed and restrained him with ropes and cable ties.

The assailants, armed with a knife and hammer, initially demanded 500,000 USDT.

After negotiations, Leibov transferred 250,000 USDT.

Once the transaction was complete, the robbers tied him to a bed and warned him not to report the incident before fleeing.

Leibov managed to free himself and reported the robbery to the Kamala police.

Authorities acted swiftly, arresting four suspects on November 11.

One of the arrested individuals had prior dealings with Leibov, having regularly purchased USDT from him and knowing he held substantial amounts of stablecoins.

This case underscores the growing concern of physical attacks targeting crypto holders as digital assets become more mainstream.

It is not the first instance of innovative and aggressive methods being used to steal cryptocurrency.

In 2024, the Federal Trade Commission reported scammers stole $65 million through Bitcoin (CRYPTO:BTC) ATM schemes, involving fraudsters pretending to be bank or government officials to deceive victims.

Additionally, cyber threats continue to evolve.

Recently, Binance issued a warning about “Clipper malware,” which alters wallet addresses during transactions, redirecting funds to scammer-controlled wallets.

Reports also noted malware targeting macOS crypto wallets and phishing campaigns aimed at crypto firms, including those connected to North Korea’s Lazarus group.