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Billionaire crypto investor and entrepreneur Tim Heath was targeted by kidnappers last year, court documents have revealed
Heath was set upon by a gang outside his apartment in Tallinn, Estonia, but managed to get away by biting off part of an assailant’s finger
Heath has spent millions on personal security and cautioned those in a similar position to take the threat seriously

Court documents have revealed that billionaire crypto investor Tim Heath managed to foil an attempted kidnapping by biting off part of an assailant’s finger. The attempt, which took place outside his apartment in Tallinn, Estonia, is the latest in a string of such attacks that have taken place in the past year or so, with criminal gangs seeking to blackmail family members into handing over their victims’ fortunes to secure their release. Heath has since spent over $3 million on security and has warned about the serious threat posed by such gangs.

Kidnapping Plot Foiled at the Door

Heath’s dramatic escape emerged in court records, which detailed how, last July, just days before the grand opening of his lavish Bombay Club casino, he was ambushed by a group of men posing as painters. As he climbed the stairwell to his apartment block, they tried to force him into a bag and drag him away. Instinctively, Heath turned the tables, biting off part of an attacker’s finger and escaping to safety.

Heath reported the incident to the police, who discovered that the plot had involved weeks of planning: GPS trackers were found on his vehicle, burner phones were used to monitor his schedule, and passports were forged by the attackers to gain entry into the country. DNA from the severed finger, found at the scene, was also used to identify one suspect.

In May this year, Heath filed a civil suit against the suspects, seeking over €3.2 million ($3.7 million) in damages, including €2.7 million ($3.1 million) spent on robust personal security measures. Estonian authorities, aided by Airbnb surveillance and Bolt car rental records, have arrested at least one suspect, with others still under investigation.

Threat of Physical Violence Increasing

Heath’s ordeal is emblematic of a troubling wave in crypto circles. Known in tech lore as “$5 wrench attacks”, these incidents bypass digital security by resorting to real-world violence, often at little to no cost. Experts link the rise to new regulatory requirements like the FATF Travel Rule, which connects wallet ownership to real identities.

Raido Saar, head of the Estonian Web3 Chamber, warns that linking public blockchains with identified owners “introduces serious real-world risks to privacy and safety.”  As ransomware-style crypto extortion evolves into physical danger, victims like Heath are left battling not just for their assets, but their lives. This chilling event showcases the dark side of digital wealth and serves as a rare victory for Heath, but a grim warning for crypto’s high-rollers that in this new frontier, physical security can be as vital as private keys.

The post Billionaire Crypto Investor Tim Heath Reveals Kidnap Attempt appeared first on FullyCrypto.

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Filed under: Bitcoin - @ July 3, 2025 8:23 am