Russian man beaten and robbed in Thailand over crypto dispute

Thai police have launched a manhunt for two Russian suspects accused of turning a cryptocurrency dispute into a violent robbery in Phuket.

According to local newspaper Khaosod, a 31-year-old Russian citizen was attacked and $20,000 was stolen at a hotel in Karon, Phuket. Two suspects, known to be associates of the victim, allegedly confronted him over an unpaid cryptocurrency debt stemming from previous business dealings in Russia.

A complaint filed with local police alleged that the man, identified as Andrei, demanded that the victim repay $120,000 and tried to force the victim to unlock his crypto wallet, even threatening to kill him if he refused.

When the victim resisted unlocking the wallet, he was repeatedly punched and kicked, eventually losing consciousness after being hit in the back of the head. The attackers then fled the scene after stealing the money, leaving the victim tied up in the bathroom.

While one of the suspects, Andrei, remained in Thailand, the second suspect, Dmitri, fled to Dubai shortly after the incident. Arrest warrants have been issued and Thai authorities continue to pursue the suspects with the assistance of immigration and local police units.

Now more valuable than ever, cryptocurrencies are increasingly intertwined with violent crime. In 2024 alone, the digital gold rush has fueled a chilling crime wave, from high-risk kidnappings to violent muggings.

Four men were arrested for kidnapping and murdering a 29-year-old tourist in Kiev in July. Police said this was a pre-planned incident due to their plan to steal 3 Bitcoins. After discovering that the victim was in possession of BTC, the suspects followed and attacked the tourist and attempted to force the Bitcoin transfer before the situation turned deadly.

A month later, a similar case was reported at Santa Teresa de Cóbano beach in Puntarenas, Costa Rica. A significant amount of Bitcoin was stolen from 11 Israeli tourists at gunpoint by criminals dressed in police uniforms and believed to have police training.