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American Man puts His Friend at a Gunpoint Robs $1.8m worth of Ethereum from Him

Dec 15, 2017 Posted /  1794 Views

American Man puts His Friend at a Gunpoint Robs $1.8m worth of Ethereum from Him

Man Lures His Friend into a Cryptocurrency Armed Robbery Victim

The all the enhanced security that cryptocurrency allows, keeping your wallet and cryptocurrency holdings a secret is still a very important security measure to ensure the safety of your coins. A 35- year –old man from New York City is facing charges of luring his friend into becoming a victim of a cryptocurrency armed robbery.

Mr. Louis Meza 35 who supposedly knew the amount of cryptocurrency in his friend’s possession connived with an armed man to rob his friend. Louis lured his friend into a waiting minivan where a man held a pistol to the victim’s head before forcing him to disclose his mobile wallet seed. The duo transferred about $1.8 million from the Ethereum wallet into their own wallets. However, due to the publicly available transaction records on the blockchain, the police were able to trace the stolen Ethereum by following its flows in the blockchain. The money landed Luis Meza wallet the following day after the incident and he was immediately picked up by the police.

According to a New York Daily report, the Manhattan District Attorney Cy Vance Jr. said in the court that the case shows the increases linkages between cyber and violent crimes. But the reality remains that criminals will keep on using whatever means to fulfill their desires to rob and steal from innocent people irrespective of the asset they are trying to steal.

Keep your Cryptocurrency Holdings a Secret

This case and several similar other highlights the need of keeping your cryptocurrency holdings a secret even from the people living around you. With the prices of cryptocurrency escalating in recent days a small amount could become a significantly huge sum of money just within a few months.

This particular case illustrates how the friendship of two adults was ruined when one party decidedly to go for a quick harvest where he never sowed. The results of such acts could lead to loss of lives in the worst case scenario as the culprits would want to conceal all evidence linking them to the crime. Thanks to the nature of Blockchain, this particular heist was successfully traced and the culprit apprehended.

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After appearing at the Manhattan supreme court, the culprit Louis Meza pled not guilty to the counts of Grand Larceny, Kidnapping and robbery and was held on a $1 million police bond. His bail is set at $500,000 payable in cash as the Manhattan Supreme court does not accept cryptocurrency payments.

Although no particular security option can guarantee the total security of your cryptocurrency simple necessary steps can actually enhance the security to a good level.

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Tags: worth of Ethereum cryptocurrency Ethereum Wallet stolen Ethereum blockchain

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