Sunday, November 27, 2022

Thieves Target UK Investor’s Phone And Steal Crypto: Report

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Reports emerged that Thieves target UK investors’ phones and are using them to steal crypto after many victims confirmed the new wave of muggers on the streets so let’s read more about it in today’s latest cryptocurrency news.

The digital asset investors from London are facing threats to the security of the holdings as a new wave of crypto mugging emerges. According to the reports, the thieves target UK investors’ phones and later on use them to steal crypto. The London police recieved plenty of anonymous reports of victims that lost huge chunks of money in crypto after having their phones stolen. Armed with the knowledge that crypto transactions are irreversible, the thieves steal the investors’ phones from the streets and then use the phones to steal funds from their wallets after forcing them to hand over their phones.

In one of the reports, the victims were trying to order an uber when the muggers forced them to hand over their phone but the gang eventually returned the phone, and the victim found out that about $5000 worth of ETH was missing from their accounts. Another victim told police that his phone and cards were stolen after he spent an evening at the pub. He later discovered that about $12,000 worth of crypto was stolen from his account and the victim noted that he had logged into the wallet account while being at the pub and figured the thieves kept an eye on him for a longer time.

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The head of the crypto team for the National Police Chiefs Council, Phil Ariss said the police officers are receiving more training on how to identify crypto-related crimes. Ariss urged the public to be cautious when accessing their crypto wallets in public and said:

“You wouldn’t walk down the street holding £50 notes and counting them. That should apply to people with crypto assets.”

The author of Attack on the 50-foot Blockchain, David Gerrard also noted that these crimes are increasing because of how people handle their digital assets. He pointed out that they don’t handle it the same way as they do with other assets including cash:

“People keep stupid amounts of money on account in crypto. They don’t think it’s money somehow.”

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