Kidnap Plot Against Crypto Billionaire Fails After Brutal Encounter
An attempted kidnapping in Estonia has thrust the issue of crypto security back into the spotlight.
Australian crypto entrepreneur Tim Heath narrowly escaped abduction after reportedly biting off part of an attacker’s finger during a confrontation outside his Tallinn residence.
Disguised as a painter, the assailant tried to force a bag over Heath’s head on the building staircase. In a swift reaction, Heath bit the man’s hand, severing a finger and managing to flee. DNA from the detached digit helped identify the attacker, who authorities say is a foreign national with forged documents. Police discovered GPS trackers and burner phones used to surveil Heath, pointing to a calculated plot to detain him and extort crypto.
Estonian prosecutors say the attackers intended to stash him in a rented sauna while forcing crypto transfers. The case is now unfolding in court, with Heath filing for over €3.2 million in damages and reportedly spending €2.7 million on private security since the incident.
The attack reflects a worrying global trend where wealthy crypto holders are being physically targeted. Experts warn that regulations like the FATF Travel Rule, which tie real identities to wallet addresses, may be putting investors at greater risk.
These so-called “wrench attacks” — where criminals skip the hacking and go straight to physical coercion — are on the rise globally. From France to the U.S., crypto’s increasing visibility is attracting organized criminals who see opportunity in a world where financial transparency often outpaces personal privacy.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
