UK-based Crypto Investor Ramesh Nair Loses Over $4M to Armed Robbers

London-based cryptocurrency investor Ramesh Nair has publicly confirmed being robbed at this home by three men armed with machetes. At the risk of being stabbed, the culprits forced Ramesh (popularly known as Ram) to transfer his cryptocurrency assets stored in his Ledger wallet to them.

Going through the record of transactions shared by the entrepreneur, the hackers made away with over $4.1 million worth of cryptocurrencies, primarily including Ether (ETH), Uniswap (UNI), and Chainlink (LINK), among others. At the time of writing, a majority of these assets are still being held at the attacker’s address.

This just happened- 3 guys physically robbed me at my home. They were armed with machetes.

They knew I had crypto and knew where I lived. They forced me to open my ledger and then transferred all of my crypto out. Luckily I didn’t get stabbed.

I’m still in a state of shock.…

— Ram (@hiddentao) June 17, 2024

In a follow-up update, Ram, who described the incident as “one of the worst experiences of his life,” revealed that he is currently prioritizing safety over asset recovery. Meanwhile, Ram also called the attention of popular exchanges such as Binance, Coinbase, and Kraken to halt the attackers if funds are moved into their platforms.

Minimizing the Risks of Physical Crypto Robbery

Ramesh Nair’s story has received broad sympathy from the cryptocurrency community on X, with some investors sharing that they had a similar horrible experience. While it is understandably difficult for cryptocurrency investors to disassociate their investment in the industry from their real-life, experienced investors typically recommend not disclosing too much about one’s crypto involvement in everyday conversations.

At the same time, it is usually best not to disclose the amount of cryptocurrencies you own while discussing them on social media groups and forums. Another safety measure is to store assets on multiple devices and addresses, minimizing the risk of what could be lost in the event of such a physical robbery.