Tourist’s Nightmare In Thailand: $250K In USDT Taken In Hotel Armed Robbery

Crypto is a popular target for cybercriminals, who rely on its anonymity and lack of regulation. These crimes often target individuals online through hacking and ransomware. However, there have been a few aggressive crimes in the past that target unsuspecting individuals in person and broad daylight. Thailand news agencies report that a Ukrainian tourist recently lost $250,000 worth of USDT in an armed robbery last November 8th, Friday.

According to the police report, the Ukrainian national was attacked by two armed individuals. The tourist was forced to transfer $250k in USDT to the suspects before contacting the Thai police.

Another Coordinated Crypto Extortion In Thailand

Cryptocurrency holders aren’t just prone to hacking and ransomware; they’re also the target of physical armed robberies and extortion. Last November 10th, Thai local news reported that a young Ukrainian tourist was assaulted and robbed with $250k worth of USDT.

According to multiple reports, the robbery incident happened last Friday, November 8th, in Phuket, Thailand, but this incident didn’t involve the locals.

Local reports have it that Viacheslav Leibov, a 23-year-old Ukrainian national, was involved in a planned extortion attempt. Based on the published police report, Leibov was invited by his friend, Alfred Chernyshuk, an 18-year-old Ukrainian national, to check out his room.

When Leibov arrived, he was met by Arman Grigoryan, a 21-year-old Armenian national. Then, the two masked individuals attacked Leibov.

The police report further shared that both attackers wielded a knife and hammer and threatened Leibov with harm if he didn’t transfer $250k in USDT to a wallet.

For his safety, Leibov obliged and transferred the said amount. Leibov was tied to the bed and was told not to report the incident to the authorities. Despite the attackers’ warnings, Leibox managed to escape and inform the authorities.

Cryptocurrency Extortion Now A Serious Concern

Meanwhile, cybercrimes like hacking and ransomware are not new. In addition to these cybercrimes, crypto holders face fraud and extortion in countries like Thailand. Leibov’s recent extortion experience isn’t the first in this Southeast Asian country.

In November, the Thai authorities arrested a group of individuals connected to a 10-million USDT extortion scheme. According to reports, seven suspects were involved, including six rogue police officers, which have tainted the Thai police’s credibility.

Crypto Holders Now Face Security Risks On All Fronts

Traditionally, crypto holders and traders face the most significant security threats when doing business online. According to one estimate, crypto-related ransomware resulted in over $1 billion in losses in 2023.

With these reported incidents in Thailand and other tourist destinations, it’s becoming clear that holders also face issues when using their cold wallets.

Featured image from The Courier Mail, chart from TradingView