- Swedish Bitcoin holders targeted in home invasions.
- Transparency laws enable criminals to track down crypto investors.
- Crypto holders are reminded not to discuss digital assets publicly.
Crypto markets are running red hot following a torrent of capital inflows over the past month. Thursday saw Bitcoin break above $36,000 for the first time since May 2022, further fueling expectations that the bull run may soon return in earnest.
The recent surge in bullish sentiment has attracted the attention of both enthusiasts and opportunists. However, the increased attention has also drawn the watchful eyes of criminals hoping to capitalize on the uptick in crypto prices. Following a series of home invasions in Sweden, calls are growing for Bitcoiners to exercise caution.
Bitcoin Home Invasions
According to StarkNet Foundation board member Eric Wall, Sweden is becoming increasingly unsafe for Bitcoin and crypto holders. In a recent tweet, Wall drew attention to disturbing incidents where Swedish crypto holders had their homes invaded soon after speaking publicly about Bitcoin.
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“this Monday, a middle-aged Swedish couple was tied up in their home and robbed by 4 masked men. They were physically abused and threatened with their own kitchen knives. they were tied up for hours, and one had to be escorted to the hospital via helicopter,” warned Wall.
The StarkNet Foundation board member recounted several other recent incidents, including a case that involved the victim being beaten for hours even after handing over a significant amount of cryptocurrency.
Wall pinned the source of the issue on Sweden’s data laws, which allow public access to tax records and residential addresses, making crypto holders easy targets for criminals. While this law aimed to increase transparency and reduce corruption, Wall stated that it makes Sweden unsafe for crypto holders.
Reminder to Stay Low-Key
The unsafe situation for Bitcoin holders in Sweden serves as a sobering reminder that even talking about cryptocurrency publicly can trigger unintended consequences. Entrepreneur and crypto enthusiast Aleksandra Huk recently highlighted her experience of evangelizing crypto, which culminated in her becoming a target.
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Huk was compelled to spread the word on crypto’s life-changing potential during the previous bull cycle. Soon after, distant family members she rarely spoke to began asking for money, relationships with friends became strained, and Huk became anxious over whom she could trust.
“The last cycle I was so excited, I wanted to share it with everyone. I wanted people to follow my path so they can make life-changing money too. I wanted to share my own story, from rugs to riches. I told everyone, from my hairdresser to everyone on Twitter,” stated Huk.
Summing up the situation, Huk cautioned her followers about disclosing their holdings or net worth to avoid becoming targets and going through what she experienced.
On the Flipside
- Leaked or hacked Know Your Customer and Anti Money Laundering data offers another potential route for criminals to target Bitcoiners.
- Sweden is ranked 2nd highest globally for total crimes per 1,000, highlighting that it is a relatively dangerous place to live.
Why This Matters
Recent home invasions in Sweden have underscored the importance of privacy and personal security when investing in cryptocurrencies. Likewise, publicly discussing cryptocurrency carries risks.
Learn more about the resurgence in Ordinals triggering a spike in Bitcoin fees here:
Bitcoin Fees Soar as Ordinals Transactions Clog the Network
Discover why CoinMarketCap is coming under fire over inaccurate data here:
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