Bitcoin Millionaire Reports Violent Robbery
October 9 wasn’t the best day for Zaryn Dentzel, co-founder of the Spain-based social networking platform, Tuenti, owned by Telefonica. According to the 38-year-old Bitcoin millionaire, he was at his Madrid home that afternoon when he heard a ring at the door and went to open it. When he did, he said he was accosted by four or five people in hoods who covered his eyes, tied, bound, and gagged him, and covered his security cameras.
According to Dentzel’s report to investigators, the thugs then commenced to beat him and demand that he tell them the passwords to his Bitcoin wallets. The wallets reportedly contained Bitcoin worth tens of millions of Euros.
Although one report described Dentzel as being savagely beaten for hours by the perpetrators, sprayed repeatedly in the eyes, and tased, other reports said there were no serious injuries reported with the exception of a superficial cut on his chest.
According to the newspaper, El Español, the police were alerted to the attack by neighbors who heard Dentzel calling out for help. Reports say Dentzel was ultimately forced to turn over the passwords to his online wallets as well as to bank accounts where his fortune was stored.
The thieves allegedly made off with laptops, phones, and a USB drive from Dentzel’s flat. However, while one news report said Dentzel “witnessed more than one million euros worth of BTC disappear in an instant,” other reporting said their efforts to seize his Bitcoin were unsuccessful. To date, the alleged assailants are still at large.
Not the Usual Way Bitcoin is Stolen
While in-person crypto robberies have occurred, it’s far more common for thieves to attack via cyberspace.
One of the most notorious incidents happened in August this year perpetrated against the Poly Network blockchain, a decentralized finance platform that works to connect blockchains in order for them to work together. Upon discovering a vulnerability in the platform, the hacker was able to steal $600 million in assets. He ultimately returned the entire lot, explaining that he was just trying to show Poly Network what needed to be fixed. The hacker was also allegedly promised a return bonus and a position with the company.