Another day, another wrench attack

[sokani]

A Trinidad man was ambushed by two gunmen and robbed of $85,800 in cash during an in-person crypto purchase on November 29. The attackers fled with the money and both men’s phones in a getaway car, as per a local media report. An expert told Decrypt that “wrench attacks” and related violence are now occurring roughly once per week worldwide.Two gunmen escaped with about $85,800 in cash after ambushing a crypto buyer during a parking-lot transaction in Trinidad, the latest in a spate of violent attacks targeting digital-asset holders worldwide.

The Arouca resident was sitting in his vehicle at a Superpharm car park on Trincity Central Road last Saturday evening when the robbery occurred, according to a report by local media Trinidad and Tobago Newsday. He gave his two-year Belmont associate a black bag filled with cash, money he intended to use to buy crypto. Moments after the money changed hands, two hooded figures carrying guns appeared at both car windows, knocked on the glass, and declared a holdup. The assailants then snatched the cash and both men's phones before escaping in a getaway vehicle.
Source

As I read the article, I had many thoughts.

The victim had known the buyer for about two years, and yet this happened. What does that tell you? That you can be screwed even if you've been trading with someone for a long time.

I hope this unfortunate incident serves as a deterrent to persons who indulge in physical trades. It is too risky. You can lose your fund, get seriously injured or even lose your life. If you do not want to use a centralised exchange for fear of your personal information falling into the wrong hands, use a DEX.

[Yablee0]

The love of money they said is the root of all evil, who knows if that his friend that happened to be the buyer initiated the whole operation because how come the unknown gunmen had the information that their was such a transaction going on there and such amount of money is there at that point in time who knows, you can never predict anybody because humans heart are unpredictable.

This are one of the ugly side of a physical trading , it get you more exposed to greater risk that if care isn't taken it can claim your life at the process. However instead of one taking such risk due to personal reasons I will suggest one choosing a well recommendable exchange and pay close attention while transacting so you wouldn't fall into a victim of scam, although their are also disadvantages on this aspect but not that raw like the physical trade as mentioned.

[coinlary]

If you use a CEX, only the CEX has access to your identity. They cannot just give it to any random person that you might have traded with unless the particular CEX are involved in suspicious activities, but still, the government can still request any data btw. Another risk is if you voluntarily start giving out your number on every trade because they can use it to try every series of methods to get your identity and information about you.

A DEX might not be comfortable for a trade to a fiat currency, but it is a solution for anyone who values privacy. Physical trades, on the other hand, are the worst. It is not that bad if it is someone known and you just want to deal a small amount (it could be for goods or services) below six digits in Naira, but it is still not recommended. It is just much better if you avoid it, trade online with a stranger, and then use the money to get whatever you want. To buy crypto, it is not even advisable.

[Bright0515]

A Trinidad man was ambushed by two gunmen and robbed of $85,800 in cash during an in-person crypto purchase on November 29. The attackers fled with the money and both men’s phones in a getaway car, as per a local media report. An expert told Decrypt that “wrench attacks” and related violence are now occurring roughly once per week worldwide.Two gunmen escaped with about $85,800 in cash after ambushing a crypto buyer during a parking-lot transaction in Trinidad, the latest in a spate of violent attacks targeting digital-asset holders worldwide.

The Arouca resident was sitting in his vehicle at a Superpharm car park on Trincity Central Road last Saturday evening when the robbery occurred, according to a report by local media Trinidad and Tobago Newsday. He gave his two-year Belmont associate a black bag filled with cash, money he intended to use to buy crypto. Moments after the money changed hands, two hooded figures carrying guns appeared at both car windows, knocked on the glass, and declared a holdup. The assailants then snatched the cash and both men's phones before escaping in a getaway vehicle.
Source

As I read the article, I had many thoughts.

The victim had known the buyer for about two years, and yet this happened. What does that tell you? That you can be screwed even if you've been trading with someone for a long time.

I hope this unfortunate incident serves as a deterrent to persons who indulge in physical trades. It is too risky. You can lose your fund, get seriously injured or even lose your life. If you do not want to use a centralised exchange for fear of your personal information falling into the wrong hands, use a DEX.

The point is that we should not trust anyone when it is a crypto related transaction. Yes no body need to be trusted even though they are your family or close friends because we don't know the intentions of them. At any point anything can happen to anyone who's trading crypto currency, such thing can only happen if the person did not keep his secrets to himself and also do not trust anyone who's getting closer to them for any reason or with crypto informations. Always trade with caution or you rather use a DEX instead for your safety. Many people can do anything because of money, crypto enthusiast had to be careful nowadays.