Armed Robbers Steal $3.94 Million in Crypto from London Investor: Report

• A London investor lost $3.94M in crypto after armed robbers forced him to transfer assets from his Ledger wallet.
• Etherscan data reveals $3.94M worth of ETH stolen from Ram’s wallet, reducing his crypto holdings to under $63K.
• Kraken investigates stolen assets liquidation as Ram seeks help from the crypto community and major exchanges.

A London cryptocurrency investor, Ram, has suffered a devastating loss after armed robbers invaded his home and forced him to transfer almost all his digital assets. The three attackers, armed with machetes, threatened Ram and compelled him to move $3.94 million worth of Ether (ETH) from his Ledger wallet to their own accounts.

Ram shared his terrifying experience in a recent X post, which has since been deleted. He explained that the robbers appeared well-informed about his residence and substantial crypto holdings, making him an intentional target. Following advice from authorities, he removed his post while the investigation continued.

Data from Etherscan confirms the theft details, showing that 1,098 ETH and an additional 13 ETH were transferred from Ram’s wallet. At the trading price of around $3,548 per ETH, the total value of the stolen cryptocurrency exceeds $3.94 million. Ram’s remaining crypto assets have been reduced to less than $63,000, comprising StakeWise (SWISE), Unibot (UNIBOT), USD Coin (USDC), Staked Aave, and FOX.

Ram appealed for assistance from on-chain investigator ZachXBT and sought support from major exchanges like Binance, Coinbase, and Kraken. Renowned crypto analyst James Crypto Guru responded by revealing that the stolen assets were selling on Kraken through the Bitrefill payment gateway. He tagged Kraken’s support team to prompt a detailed investigation.

Kraken Support has acknowledged the situation and is currently investigating, providing a glimmer of hope for Ram that some of his stolen funds may be recovered. This incident has drawn attention to the importance of privacy and security for cryptocurrency investors, highlighting the risks of disclosing one’s crypto holdings.

Offline crypto thefts like Ram’s case are rare but shows the growing concerns among crypto enthusiasts. The community has witnessed a surge in online attacks, with recent incidents involving the decentralized finance protocol UwU Lend and omnichain tokenization platform Holograph, which lost $19.3 million and $14.4 million due to smart contract vulnerabilities.

The alarming nature of Ram’s experience reminds all cryptocurrency investors about the ever-present risks in the digital asset space. The incident underscores the need for heightened security measures and vigilance in safeguarding digital wealth. As the investigation continues, the crypto community watches closely, hoping for justice and the potential recovery of Ram’s stolen assets.