Ukrainian crypto holder Viacheslav Leibov was robbed by a group of armed men in Phuket, Thailand, on November 8th.

The incident led to a loss of 250,000 USDT and marks the latest in a series of security incidents involving crypto investors across major cities.

Armed Robbery

According to the report by Bangkok Post, the 23-year-old, Leibov was invited to a hotel room by Alfred Chernyshuk, a younger acquaintance, and there he met Arman Grigoryan. Grigoryan engaged him in conversation on the balcony, seemingly harmlessly.

However, things took a violent turn when Leibov went to use the bathroom. The victim was met by two masked individuals who tied him up and demanded a 500,000 USDT transfer under threat of broken fingers.

The attackers brandished weapons: Grigoryan held a hammer while one of the masked men wielded a knife. Pleading for a compromise, Leibov managed to negotiate the ransom down to 250,000 USDT, which he transferred to their specified wallet. The attackers then bound him to a bed, instructed him to remain silent, and fled the scene.

After freeing himself, Leibov sought assistance from hotel staff, who confirmed that Chernyshuk and Grigoryan were registered as the room’s occupants. He made a quick attempt to locate the assailants at the airport but failed. Leibov then filed a report with the police detailing the harrowing ordeal.

Physical Crypto Thefts on the Rise

Physical assaults targeting individuals with cryptocurrency holdings are becoming increasingly common in different parts of the world, including Thailand.

For instance, five Russian men were accused of kidnapping a Belarusian couple on this resort island and forcing them to transfer 31 million baht worth of cryptocurrency before releasing them in January. They were later sen