In light of recent physical attacks targeting bitcoin owners, Jameson Lopp, co-founder of Casa, revealed a substantial list of such attacks on cryptocurrency holders, dating back to 2014. Lopp’s research notes that the list, which documents more than one hundred physical assaults, probably represents only a fraction of the actual incidents, since many of them go unreported or undetected by the public.
A surprising report of more than 100 physical attacks on cryptocurrency owners
Recently, in early November, a report emerged about the kidnapping of executives of a Binance client, who were forced to empty their cryptocurrency wallets. Days before this incident, a Swedish couple endured a violent experience in which they were tied up, assaulted, and ultimately forced to give up their cryptocurrency assets.
Casa CTO Jameson Lopp, who has been tracking physical attacks on bitcoin users, noted that there have been 16 such attacks in 2023. Lopp circulated the list on social media outlet “There have been more than 100 physical attacks?” Has it been perpetrated against Bitcoiners? You can get more information in this historical file I maintain.”
The list is extensive, but Lopp emphasizes its limitations, noting that it is “not exhaustive” and noting that “many attacks are not publicly reported.” Additionally, the list includes “entities owning crypto assets,” which includes physical attacks on cryptocurrency ATMs.
Lopp’s compilation clearly demonstrates a correlation between the rising value of bitcoin (BTC) and the increase in robberies and physical assaults. For example, there was a lone physical attack in 2014, which involved the SWAT of computer scientist and early bitcoin advocate Hal Finney.
The attacks intensified the following year, reaching five in total, and in 2016 four incidents were documented. The number soared during the 2017 lockdown, with 12 attacks recorded during the year. Notably, 2018 saw a dramatic increase to 25 incidents, eight of which occurred in January alone.
In 2019 and 2020, the frequency of physical attacks decreased, but with the 2021 lockdown they increased to 35 incidents. The following year, 2022, 26 such attacks were documented in Lopp’s log.
These attacks span a variety of tactics including home invasions, SWATting, kidnappings, mismanaged in-person bitcoin exchanges, and raids on cryptocurrency mining facilities. In addition to the list, Lopp provides an educational resource titled “The Hodlguard: An Introduction to Physical Security in Bitcoin,” as well as slides for those looking to improve their security techniques.
What do you think of the list of physical attacks against cryptocurrency holders since 2014? Share your thoughts and opinions on this topic in the comments section below.
