The recent case of an Italian tourist who was kidnapped in New York and tortured Through people allegedly after his cryptocurrency draws attention to a wave of crimes nicknamed “key attacks”, which combine the cyberfer with old-fashioned violence.
The term comes from a XKCD comic This represents an “imagination of the crypto nerd” of technological know-how which would be necessary to enter their digital portfolio. In reality, comic strip notes, all you need is a heavy key of $ 5 to threaten the owner of cryptography until they reveal the password of their account.
Such attacks have resumed in recent months, in part because theft of a digital portfolio can be easier than stealing money from a traditional bank account, said Ari Redbord, a global official of TRM Labs, a Crypto traced company. In addition to this, the value of Bitcoin has increased in recent months, which means that people with crypto holdings are potentially lucrative targets for criminals.
“The criminals go to the place where the money is, and we see a huge increase in the price of bitcoin,” said Redbord. “Before, you needed cyber sophisticated capacities to hack someone, but now you can be a violent criminal who can beat (someone’s password).”
He added: “I do not think I was so surprised by this type of illicit crypto activity.”
The world of cryptography also has a culture of establishing wealth through publications or appearances on social networks at the Crypto conference, which allows criminals to easily identify potential targets.
Bitcoin exchanged on Friday at nearly $ 105,000 per token, according to Pear – About 53% more a year ago. Digital currency has partially climbed because people are looking for alternatives to put their money as traditional investments such as actions and obligations, and the Trump administration takes measures to promote the use of cryptocurrencies, in particular by establishing a “Strategic cryptography reserve. “”
How to break a wallet
Cryptocurrency flights are not new, but they generally involved hacking, like a huge 2022 hack at crypto exchange binance in which thieves initially stole $ 570 million, as well as multiple hacks by entities that the United Nations found wereEncone in North Korea.
In response to such threats, crypto owners often try to keep their private keys outside the internet and stored in what are called “cold wallets”. When used properly, these wallets can defeat even the most sophisticated and determined hackers.
But criminals have realized that they do not need technical skills to steal cryptographic assets, said Redbord. All you need is to have access to the password of the cryptographic account of a person, because there is no third-party financial institution in the manner of access to the funds held in a digital portfolio, he explained.
Blockchain transactions, the technology that feeds cryptocurrencies, are permanent. And unlike species, jewelry, gold or other value articles, thieves do not need to transport the stolen crypto. In a few clicks, huge amounts of wealth can be transferred from one address to another.
Crypto kidnapping
The case in New York is somewhat unusual because it involves crypto investors has tried to steal the assets of another investor, said Redbord.
In this case, investors John Woeltz, 37, and William Duplessie, 33, face Teaching chargesAutstrafts and illegal imprisonment of the Italian tourist in order to steal his digital portfolio containing Bitcoin worth millions of dollars. The court documents allege that the pair kept the unidentified victim of 28 years for weeks in an apartment in the fashionable Soho district of New York.
After the victim was removed, he was shocked by electric wires, his leg was cut with a saw and was forced to smoke crack, according to the prosecutors. Articles including a photo of a pistol held at the head of the Italian tourist were found in the apartment by investigators.
Two New York police detectives had worked security for the accused ravisseurs, CBS News New York reported. The detective was put into service while the police were investigating.
Yuki Iwamura / AP
Such incidents have also occurred with increasing frequency in Europe and Asia. Several cases in France reflected the attack on New York, the French police arresting 20 people following several conspiracies of alleged kidnapping involving cryptographic investors and their families, the BBC reported Earlier this week.
In a case, a gang would have tried to kidnap The daughter and young grandson of a manager of a cryptocurrency company in Paris, while earlier this month, the father of a Millionaire Crypto was rescued by the police in Paris after being kidnapped and held for Rançon.
In addition to keeping a lower profile, cryptographic investors can take other measures to make criminals more difficult, said Redbord. An option is to require permissions for several people to access a portfolio, for example.
In the meantime, criminals take note and can pursue similar crimes, he added. “They see success and try to reproduce these successes,” said Redbord.
contributed to this report.