Bitcoin trader brutally tortured with drill in cryptocurrency robbery
Three robbers disguised as police entered the victim’s home in Drenthe and attacked him with a drill in front of his four-year-old daughter, Dutch publication De Telegraaf reported.
The hour-long ordeal also involved the victim being threatened with firearms, before the perpetrators fled in an escape vehicle. The digital nature of bitcoin and other cryptocurrencies mean long and complex passwords – or private keys – are required to access assets and transfer them to another digital wallet.
Police did not reveal the identity of the victim but it is not believed any cryptocurrency was stolen during the raid.
A spokesperson for Northern Netherlands Police told The Independent that the investigation is ongoing.
It is not the first time criminals have targeted cryptocurrency investors and traders, with the earliest reported instance taking place in 2015.
In February of that year, New York City firefighter Dwayne Richards was stabbed in Willamsburg, Brooklyn, by muggers who demanded he transferred bitcoin to their digital wallets.