$8 000 USD
DESCRIPTION OF EVENTS
"A college student started the year as a freshman was robbed at the University of Kent, a school located in the historic city of Canterbury."
"The student’s mother details that five days before starting his course, her son started to talk about cryptocurrencies with a friend from the school."
"She said her son had been discussing cryptocurrency with a new friend on campus just five days after he started his course." "She said: "It was the first friend my son made from university and he was from London."
"“They were just having lads’ talk. [Then] the conversation turned to [finance] and the friend started talking about cyber currency,” the student’s mother explained."
"After the discussion, the boy’s friend alleges that the student brought eight friends from East London to visit the student’s room and he instantly “knew he was in trouble,” his mother declared."
The student "was robbed at knifepoint for his bitcoin. After eight thugs stormed his dorm room and demanded that he reveal his crypto credentials and passwords." "The student says that his bitcoin stash was worth around £6,000 ($8.2K) at the time he was robbed." "A further £3,000 of his grant money was also stolen."
"He was terrified, emasculated, humiliated and abused." "You don't hand over nearly £10,000 if you don't think you're not going to get injured."
"The student then called the police and ran to the security hut and the student’s mother said the security guards didn’t go to the crime scene. The police never arrived because there were more important matters to attend to that evening."
"After the incident, the student called the police and ran to the university security booth, but the police never showed up." She said: "He phoned the police and they didn't attend because there was something more important on that night."
"Canterbury District Commander Chief Inspector Mark Hedges confirmed that police were contacted about the robbery."
He said: "The incident was reported around 45 minutes after the robbery had taken place and during the call, it was established the offenders had left the scene."
"As a result, it was arranged for officers to visit the victim the following day, when further details of the robbery were disclosed, including the theft of a mobile phone and the transfer of a significant amount of cryptocurrency from the victim's account."
"A thorough investigation into the incident was carried out, including a review of local CCTV opportunities, analysis of Bitcoin 'wallet' IDs and exploration of possible forensic evidence."
"However, the case did not meet the evidential test and the three suspects were refused charge."
"The only action the university took was moving him to different accommodation. He was too traumatised so he moved back home even though he had safer and better accommodation."
"We offered the student wellbeing counselling, financial support, and relocation of accommodation."
"To make matters worse, the money was never returned to the student. The Canterbury District Police Department dropped the case after eight months. The mother detailed that she was upset that the Kent security guards and police did nothing. She also warned other freshmen students that the same could happen to them."
"“The police commonly call Freshers’ Week ‘fishing week’ because all the criminals come down,” she said. “They know the students have got grants, laptops, and new stuff. Attacks, assaults, and muggings are quite common across the country,” the student’s mother added."
"The fact of the matter is, it is not wise to disclose crypto asset holdings to others, unless you truly trust them. Bitcoin muggings have been taking place for years, but there’s been an increase in crypto robberies that leverage violence to steal bitcoin or other digital assets, since the crypto economy’s massive rise in value during the latter half of 2020."
"No one was ever charged in connection with the incident." "[N]ow that same stash of bitcoin is worth £68K ($93,000)".
A freshman student at the University of Kent was robbed after revealing he held cryptocurrency.
HOW COULD THIS HAVE BEEN PREVENTED?
The best practice for protecting against physical robbery is to have a throw-away wallet with a smaller balance. It is never a good idea to reveal the details of your funds to anyone else.
Funds can be secured through the requirement of additional factors for withdrawal, which could include the approval of other friends/family, devices physically located in multiple locations, or devices which are held in secure facilities such as banks.
London College Student Robbed at Knifepoint by 8 Thugs for $93K in Bitcoin – Bitcoin News (Oct 4)
London College student robbed of Bitcoin (BTC) worth £68k - Cointribune (Dec 4)
Student forced to transfer bitcoin now worth £68k after being held at knifepoint stunned after cops drop probe (Dec 4)