Bitcoin Bandits Steal $700,000 in Costa Rica

Armed thieves target Israeli nationals in a brazen crypto heist on the beach.

A group of Israeli nationals was violently robbed of approximately $700,000 worth of Bitcoin in Puntarenas, Costa Rica, during an armed attack on August 4. At least eight robbers, disguised as police officers, stormed a social gathering in the beach town of Santa Teresa de Cóbano, overpowering security and forcing the victims to surrender their digital assets and valuables.

The attackers, who arrived in expensive vehicles, appeared to be highly organized, suggesting prior knowledge of their victims and possible law enforcement training. Local authorities have yet to identify the perpetrators, but the Judicial Investigation Agency is actively investigating the incident.

This latest heist is part of a troubling trend of violent crypto-related crimes worldwide. In recent months, reports of such crimes have surged, with the most notable being a $200,000 Bitcoin robbery in Kyiv, Ukraine, where the victim was later killed, and a series of home invasions in the U.S. targeting crypto holders.

The increase in these violent incidents parallels a broader rise in crypto-related crime. Data from blockchain intelligence firm TRM reveals that nearly $1.4 billion in digital assets were stolen in the first half of 2024, marking a 200% increase from the same period in 2023. As cryptocurrency becomes more widespread, the risks associated with holding significant amounts of digital assets appear to be growing, with criminals increasingly targeting high-value crypto holders.

photo source / Blockonome