Over 100 Physical Attacks on Bitcoin Owners Documented Since 2014, Research Reveals

  news.bitcoin.com 16 h

In light of recent physical assaults targeting bitcoin owners, Jameson Lopp, co-founder of Casa, revealed a substantial list of such attacks on crypto holders, tracing back to 2014. Lopp’s research points out that the list, documenting over a hundred physical assaults, likely represents just a fraction of the actual incidents, as many go unreported and unnoticed by the public.

A Startling Report of Over 100 Physical Assaults on Crypto Owners

Recently, at the beginning of November, a report emerged about the abduction of executives from a Binance client, who were coerced into draining their cryptocurrency wallets. Days prior to this incident, a Swedish couple endured a violent ordeal where they were bound, assaulted, and ultimately compelled to relinquish their cryptocurrency assets.

Casa’s CTO, Jameson Lopp, who has been tracking physical assaults on bitcoin users, noted that there have been 16 such attacks in 2023. Lopp disseminated the list on the social media outlet X, remarking, “Did you know that over 100 physical attacks have been perpetrated against Bitcoiners? You can learn more at this historical archive I maintain.”

The list is extensive, yet Lopp emphasizes its limitations, noting that it “is not comprehensive” and pointing out that “many attacks are not publicly reported.” Additionally, the list encompasses “crypto asset owning entities,” which includes physical attacks on cryptocurrency automated teller machines (ATMs).

Lopp’s compilation clearly demonstrates a correlation between the rising value of bitcoin (BTC) and the surge in robberies and physical assaults. For instance, there was a solitary physical attack in 2014, involving the SWATting of computer scientist and early bitcoin advocate Hal Finney.

The attacks escalated in the following year, totaling five, and in 2016, four incidents were documented. The number soared during the 2017 bull run, with 12 attacks recorded within the year. Notably, 2018 saw a dramatic increase to 25 incidents, with eight occurring in January alone.

In 2019 and 2020, the frequency of physical attacks diminished, yet with the 2021 bull run, they surged to 35 incidents. The subsequent year, 2022, saw 26 such attacks documented in Lopp’s record.

These assaults encompass a range of tactics including home invasions, SWATting, abductions, mishandled in-person bitcoin trades, and raids on cryptocurrency mining facilities. Alongside the list, Lopp provides an educational resource titled “The Hodlguard- a primer on physical security in Bitcoin,” as well as slides for those seeking to enhance their security techniques.

What do you think about the list of physical attacks against crypto holders since 2014? Share your thoughts and opinions about this subject in the comments section below.

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