A Russian blogger is counting heavy losses after a robbery incident in Bali that saw him lose nearly a quarter of a million dollars in Bitcoin.

Earlier this week, Yuri Boytsov recounted the incident on Insta stories alleging that the perpetrators entered his Villa in Bali on Feb. 25 under the guise of being police officers before demanding to access his crypto wallet.

“On February 25 in Bali, I and my girlfriend were completely attacked and robbed more than $284,000,” the blogger wrote sharing CCTV footage showing the incident. According to him, the perpetrators were four, three Russian-speaking men and one Indonesian in police uniform.

Yuri, who is not shy at flaunting his extravagant lifestyle on social media, noted that the thugs came under the guise of investigating alleged fraud by the blogger before threatening him and his girlfriend. They then roughed them up before taking all their passports and documents and forcing him to transfer US$284,000 in bitcoin to a BTC address. After the crime, the blogger immediately went to the nearest police station and reported the incident. He also shared the CCTV footage, which later helped net a suspect.

“On the morning of 26th February, I took a video from a CCTV camera. Thanks to this, a few hours later, one of the perpetrators was arrested at the airport. He was going to take the Bali-Dubai flight,” he added.

However, despite the arrest and interrogation, Yuri noted that the suspect was released, adding that he started receiving death threats from the perpetrators thereafter.

“A plea to the esteemed Indonesian citizens. My life and the life of my wife is now under maximum threat in Bali. I ask for your help and support. Help stop this chaos and help me,” he went on. 

Yuri’s case is not an isolated one. The rise of social media users showcasing their crypto trade has led to a spate of crypto muggings in the past four years. Last year, the city of London police detailed how thousands of victims lost their crypto holdings to thugs by being robbed or unknowingly exposing their log details before their phones were seized.

To stay safe, experts have advised crypto investors to keep their investments private and not to keep a large amount of crypto in one wallet. Setting up a private space on one’s phone, which prevents a wallet from showing on the main screen, is also a safety measure.

Furthermore, having a multi-signature wallet such as Trezor and Coldcard can help users safeguard their crypto. This means that before carrying out transactions with your wallet, other crypto keys( which could be held by a spouse or friend) must confirm them, eliminating the fear of being mugged.

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Filed under: Bitcoin - @ March 5, 2023 3:16 pm