Taiwanese Police Tackle Country’s First Bitcoin Robbery

[SeanWayne]

Four men have been arrested in Taiwan following a bitcoin robbery.

Police were called to the street in the city Taichung by neighbors who reported a dispute. They found bloodstains at the scene, and it was discovered that a cryptocurrency trader named Tai had been lured by men pretending to wish to buy Bitcoin and attacked.

The police report details that after Tai showed proof of his Bitcoin using his mobile phone, he was allegedly assaulted, with the attackers managing to transfer 18 bitcoins worth $188,000 from the device. An attempt was then made to pass the attack off as a drunken row by forcing the victim to drink Kaoliang, a strong liquor.

One man was arrested at the scene, and a second on the island of Kinmen, where he had attempted to evade detection. The two other accused were caught by police after the event, with the fourth man stated to be the mastermind of the attack. No information has been provided regarding whether the funds have been restored to their owner.

The event marks the first occurrence of cryptocurrency robbery in Taiwan, however, a similar event did occur earlier this year in the UK. Two cryptocurrency traders were robbed at gunpoint in their Oxfordshire home, with the aggressors taking the couple’s baby. Direct robbery is not the only method criminals have used to steal cryptocurrency. At the end of last year, news spread that an executive of the Ukrainian EXMO exchange had been kidnapped, with criminals demanding a $1m Bitcoin ransom.

Cryptocurrency related crime appears to be growing, with users of the technology presenting a growing target following the recent boom in prices. It is a highly worrying development, and cryptocurrency users who wish to trade with strangers are warned to be vigilant and to operate in public spaces to minimize the risk of robbery. Whilst the many exchange hacks and online cryptocurrency heists (such as last months $530m Coincheck breach) have taught traders to be careful with their funds, police warn of the new risks of direct robbery that come with the additional risk of physical harm or even worse.

Credits to the owner: https://www.ccn.com/taiwanese-police-tackle-countrys-first-bitcoin-robbery/

Do you think Bitcoin Price is affected?

[stompix]

Do you think Bitcoin Price is affected?

Why should it be? I see no reason for it. 18 Bitcoins? That's nothing compared to the markets.
It's like stealing a Ferrari would bankrupt the car maker.

But on the subject, one must be pretty dumb to go with 18 BTC to a face to face meeting in the street and deal with people you have not met before.
And it's not just about BTC , would you do that if you would be selling 1kg of jewelry?
Would you let an unknown buyer drive alone in a drive test your 200k car ?

Events like this are beyond my comprehension.

[Pursuer]

it is very strange to see people are still trading bitcoin like this, in an alley! and it is not the first time either, not the first country. the first I think was in New York!

for the millionth time people, go to a public place, a police station even or a bank, a mall,... somewhere with people around and make the trade. when the man in the van with tainted windows tells you he has candy, don't gen in his car.

[jjacob]

Do you think Bitcoin Price is affected?

Why should it be? I see no reason for it. 18 Bitcoins? That's nothing compared to the markets.
It's like stealing a Ferrari would bankrupt the car maker.

But on the subject, one must be pretty dumb to go with 18 BTC to a face to face meeting in the street and deal with people you have not met before.
And it's not just about BTC , would you do that if you would be selling 1kg of jewelry?
Would you let an unknown buyer drive alone in a drive test your 200k car ?

Events like this are beyond my comprehension.

It could be possible that the man whose bitcoins were stolen had obtained them illegally? If he were indeed a thug or a criminal who was looking to dispose off the proceeds of crime, he should have taken a few strong arm men to the meeting as well.
In this day and age of multiple international exchanges, selling 18BTC at the market price should not be a problem at all.