Two recent criminal cases involving violent debt collection for cryptocurrency obligations underscore an emerging trend of physical threats within the space, prompting urgent security considerations.
In the US state of Florida, Shlomo Akuka, aged 30, was arrested by the FBI following a sting operation. Akuka orchestrated a kidnapping and mutilation plot aimed at extricating a $3 million cryptocurrency debt owed to him. As part of investigations, it was revealed he also laundered $200,000 derived from illegal drug proceeds using the Tether (USDT) stablecoin. His capture came after he detailed the violent plan and placed GPS tracking devices on a vehicle associated with the target’s fiancée.
Separately, a case emerged from London where Quentin Cepelja was taken hostage by a gang demanding £500,000 in cryptocurrency. The assailants subsequently reduced their demand to £2,000 in cash upon discovering his minimal cryptocurrency holdings.
Industry experts responding to these incidents emphasize the critical importance of robust security practices. Recommendations include implementing multi-factor authentication for accounts and utilizing offline hardware wallets to safeguard digital assets against both cyber and physical security threats.
These severe events vividly illustrate the significant risks of physical violence linked to digital asset wealth, intensifying calls for enhanced security awareness throughout the cryptocurrency ecosystem.