Ukrainian man robbed of $250k Tether in Thailand

Armed robbers in Thailand, where Devcon will be held, stole $250,000 from a Ukrainian crypto user on Monday, November 11.

While Ukrainian citizen Viacheslav Leibov was visiting his friends in Thailand, Tether (USDT) worth a quarter of a million dollars was stolen. Local media reported that the crypto user was forced to transfer stablecoins by being tied up with cables.

The robbers threatened Leibov not to get involved with the police before dropping him off at a hotel room in Phuket. Leibov later freed himself and reported the incident to local authorities, providing law enforcement with the names of at least two suspects.

Stories of crypto theft have emerged around the world, with bad actors and criminals physically targeting crypto users to steal their assets. Last week, WonderFi CEO Dean Skurka was kidnapped in downtown Toronto and was only released after paying a $1 million cryptocurrency ransom.

Malaysian police investigated four suspects in connection with the $1.2 million cryptocurrency heist that took place in August. Hong Kong authorities arrested two kidnappers in exchange for a ransom of 660,000 USDT, Crypto.news reported in July.

The crypto community has become increasingly wary of the increasing number of real-life thefts in crypto-friendly regions. Conference participants were advised to travel and move in groups as a precaution against potential attackers.

Leibov’s case has reignited marching orders for crypto attendees heading to Bangkok for Devcon, one of the largest annual Ethereum (ETH) gatherings. Phuket, where Leibov was robbed, is less than two hours by plane from Thailand’s capital.