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Never Disclose Crypto Holdings: Bitcoin Millionaire Has Run in With Shotgun

Avatar Tony Spilotro 1 week ago

Once an individual gets started in investing or trading crypto assets like Bitcoin, they should very early on in their journey encounter some commonly cited advice: never invest more than you can comfortably afford to lose; not your keys, not your Bitcoin; and never disclose how much crypto you hold, as it could very well make you a target for criminals and other bad actors.

One Bitcoin-made millionaire learned the hard way, when he opened his door only to be greeted with a shotgun pointed in his face, resulting in a bizarre story and an important reminder for crypto investors to stick to the above words of wisdom.

Bitcoin Millionaire Jumps Off Balcony to Save Life and BTC

An Oslo, Norway based multi-millionaire, who made his fortune by working over ten years in the cryptocurrency industry, has had a run-in with a criminal who sought to steal his Bitcoin.

Related Reading | Bitcoin Bull Jack Dorsey’s Twitter Hack Is a Wakeup Call for Crypto Security 

The unnamed man, which reports say is worth over $100 million due to his cryptocurrency holdings, has been regularly in the public eye due to his wealth, and it made him a target of a home invasion.

The Norwegian man answered his doorbell when an assailant pointed a shotgun at him and made demands. Rather than comply, the Bitcoin millionaire made a daring escape and jumped off of the balcony of a two-story apartment in order to get away with his life and Bitcoin intact.

The case is being handled by the Oslo Attorney General’s Office, and the robber is denying the allegations.

Reminder: Never Disclose Crypto Holdings Ever

When you’re a widely publicized Bitcoin millionaire, it’s extremely difficult to hide the fact that you hold crypto assets. But in the case of normal, everyday crypto investors, this example shows a harsh reality that anyone who has made money or holds money in cryptocurrencies like Bitcoin, could have to face if they are not careful about who they disclose information to.

Among the many common words of advice new crypto investors are told, is the suggestion to never disclose how much crypto you hold – or even that you do hold any crypto at all – to anyone at any given time.

Related Reading | Why All Bitcoin and Crypto Investors Should Consider U2F Security Keys 

Even if your crypto holdings are something you view as meager by comparison to Bitcoin millionaires like the man at the center of this story, it’s impossible to know what a criminal would deem as “too little” of a reward for their efforts, and any amount of crypto could be at risk if investors aren’t careful to protect the information at all costs.

If they don’t, they could make themselves a target to ransomware, malware, hacks, or even real-world attacks such as what happened here. Despite Bitcoin and crypto living on the blockchain, criminals are often willing to do physical harm in order to obtain digital assets. Don’t make the same mistake as this man did and risk criminals breaking into your home.

Never disclose your crypto holdings.

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