Austrian Man Falls Victim To Crypto Robbery At Gunpoint

It was reported by Austria’s largest media provider, the Austrian Broadcasting Corporation (ORF), which operates “four national television and twelve radio channels, as well as a comprehensive range of websites,” on Friday (July 26) that an Austrian man in the city of Wels has become the victim of yet another case of cryptocurrency robbery.

This incident took place in Wels, the eight largest cities in Austria which has a population of around 60,000.

The victim, a 30-year-old man, as per ORF’s report, apparently working in his office in the evening when the bell was rung by the masked robbers. It was after the victim opened the door that these men, who were armed with “a pistol and a rubber truncheon,” demanded all of his cash and crypto.

Reportedly, even after the man yielded to all of their demands, i.e. handed over all the cash and transferred his crypto to them, he was tied up and left in the office, after which the robbers made their getaway. Henceforth, the victim somehow managed to free himself and notify the police, who have now ensured that a proper investigation is underway.

Although this might come as a shock to many, this kind of illicit activities is not uncommon in the crypto world and can be due to the volatility that crypto experiences. This incident though undoubtedly unsettling and upsetting for crypto holders throughout the world is relatively fortunate compared to what happened to one Bitcoin trader in March 2019 in The Netherlands. In that cryptocurrency robbery, the poor victim was brutally tortured — with a drill — at his home while his four-year-old daughter watched.