Thieves Aim To Steal Cryptocurrency Phones From UK Investors: Report

London-based digital asset investors now face security threats to their holdings due to a new wave of “crypto strength” surfaces.

Robbers are targeting crypto investors

according to recently applied area According to The Guardian, London police have received countless anonymous reports of victims who lost huge amounts of money in cryptocurrency after robbers forcibly confiscated their cell phones.

Armed with the knowledge that cryptocurrency transactions are irreversible unlike bank transfers, thieves target unsuspecting digital asset investors on the streets, forcibly handing over cell phones and stealing funds from digital wallets.

In one of the reports, the victim tried to order an Uber when the robbers forced her to hand over her phone. The gang eventually returned the phone, but the victim found £5,000 (about $6,170) worth of ETH missing from their Coinbase account.

Another victim told police that his phone and card were pickpocketed after spending an evening at the bar. He later discovered that around £10,000 ($12,300) of crypto had been stolen from his CryptoCom account. The victim noted that while at his bar, he logged into his cryptocurrency wallet account and saw the thief entering his account pin.

British police getting more training

Phil Ariss, the cryptocurrency team leader for the Police Chiefs’ Council Cybercrime Program, said police are currently getting more training on how to identify various cryptocurrency-related crimes.

Ariss urged the public to exercise caution, especially when accessing crypto wallets in public places. “I would not walk the streets carrying a fifty-pound bill,” he said. This should apply to people with crypto assets.”

David Gerard, author of Attack on the 50 Foot Blockchain, also emphasized that these crimes are on the rise because of the way some people handle digital assets. He pointed out that it is not treated in the same way as other assets, including cash.

“People keep stupid amounts of money in their cryptocurrency accounts. In a way, I don’t think of it as money.”

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