NONE

DESCRIPTION OF EVENTS

"A 29-year-old from Berlin wanted to trade Bitcoins in a parking lot in Munich-Feldmoching on Tuesday."

"As early as Tuesday, March 16, 2021, at around 7 p.m., a 29-year-old from Berlin met two unknown men in a parking lot on Dülferstrasse in Munich-Feldmoching. It was about a bitcoin business. The Berliner unlocked his smartphone and showed the men the contents of his electronic purse, the so-called wallet, which contained an amount in the high five-digit range."

"[The] German man had [the funds stolen] after unlocking the wallet on his phone (in order to prove his holdings) during a supposed face-to-face trade." "When he tried to show the supposed buyers the wallet with a high five-digit amount on his cell phone, the smartphone was snatched from him." "At that moment he was attacked by two other men. They grabbed and held him and snatched his mobile phone from his hand."

"The four perpetrators then fled in two cars."

"The 29-year-old from Berlin immediately notified the police and one of the two vehicles was found as part of the search."

"The police were able to locate and arrest the men from the Mühldorf district." "Inside [the car] were three suspects aged 21 to 29 from the Mühldorf district who were arrested."

"The second car could not be located. However, the police later arrested the fourth suspect, a 30-year-old from the Mühldorf district, after further investigation and search measures in Munich."

"Arrest warrants have been issued for three of the Bitcoin robbers. The investigations into this virtual money robbery are underway at Commissariat 21."

A 29 year old German man met a group of strangers to transact bitcoin, possibly to sell some of his coins. The group of three men then attacked him and snatched the phone. He called police immediately and the men were arrested shortly after. It is unclear if his funds were returned to him or not.

HOW COULD THIS HAVE BEEN PREVENTED?

It is safest to transact with people you know or using trusted platforms. If performing a transaction involving a large sum, never meet alone. It is best to meet in a public place. Never bring a wallet with more funds than you are intending to transact. Using a multi-signature wallet can require two signatures. You can also take advantage of placing the funds in an escrow wallet while any transaction is settling.

Check Our Framework For Safe Secure Exchange Platforms

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