Israeli tourists robbed of $700k in Costa Rica Bitcoin heist

Eleven Israeli tourists were robbed in a brutal attack on Santa Teresa de Cóbano beach in Puntarenas, Costa Rica.

The robbery took place while the group was attending a social event when they were approached by at least eight men. The attackers arrived in two high-value vehicles and overpowered the group’s security guard.

Robbers suspected to have police training forced tourists to hand over their belongings, including a significant amount of Bitcoin (BTC). Surveillance footage shows the attackers, some in what appear to be police uniforms, carrying the victims from one location to another.

Eleven Israelis visiting Costa Rica were attacked by eight men who overpowered security guards and stole $700,000 worth of bitcoin. Analysis of surveillance footage led investigators to suspect the robbers were current or former police.https://t.co/f09114S8e6

— Jameson Lopp (@lopp) August 9, 2024

Inside job?

Authorities believe the attackers had inside information about the tourists’ financial activities, suggesting someone close to the group may have tipped off the criminals. The Judicial Investigation Agency is actively searching for leads in the case.

The robbers’ knowledge of Bitcoin leads authorities to believe the robbery was an inside job. The investigation is ongoing as authorities work to identify the perpetrators and recover the stolen assets.

Local news agency Teletica assisted in publishing this report.

Similar crypto crime in Ukraine

This robbery is reminiscent of a recent crime in Kiev, Ukraine. Police have arrested four men involved in the kidnapping and murder of a 29-year-old foreigner for approximately 3 Bitcoins. The crime was planned, with the suspects following the victim to his home, assaulting him, and forcing him to transfer his Bitcoin. The victim was then killed and his body buried in a forest.

These incidents show that the risks faced by cryptocurrency holders are increasing as criminals become more sophisticated in targeting individuals with large amounts of digital assets.

Is there an increase in crypto crimes?

A Chainalysis report published in June found that crypto-related crimes are becoming increasingly complex and resource-intensive for law enforcement agencies to track and stop, requiring more time and advanced tools to investigate.

While many public sector workers view crypto favorably, there is growing concern about its use by criminals, particularly in regions such as Asia-Pacific. The Chainalysis report highlighted the urgent need for more staff and technology in public sector institutions around the world as they work to combat crypto crime.