Russian Gang Kidnaps and Robs Ukrainian Crypto Investor
A gang of nine Russians allegedly kidnapped and robbed a Ukrainian crypto investor on Bali, according to Jakarta Globe. The attackers blocked the victim’s car, preventing any escape, and were heavily armed with guns, knives, and hammers.
After handcuffing and blindfolding the victim, they abducted both the passenger and the driver. Reports suggest that through torture, they forced the Ukrainian victim, Igor Iermakov, to provide access to his Binance account, stealing over $214,000 in crypto assets.
The Bali police are actively investigating the case and working to identify the suspects. Although the incident took place in December 2024, it was only publicly reported on January 31, 2025.
Related: How Russia is Building a Shadow Crypto Mining Empire
While the Russian suspects remain at large, a British gang involved in a similar crime has already been brought to justice. A group of UK nationals was recently convicted of kidnapping and torturing a crypto investor, with some members sentenced to 20 years in prison. For a full breakdown of the sentencing of this extortion gang, visit our website.
The trend of targeting individuals in the crypto industry is growing. Recently, we reported that the co-founder of Ledger, a crypto company specializing in crypto wallets, was freed in France after being kidnapped at his home.
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