Taking your Bitcoin off the net used to be the safest option, but there are new concerns hitting the streets. Cryptocurrencies, as the product of the digital realm, have always existed in the ether – no pun intended – meaning that physically there was nothing to hold, or to lose/have stolen.

The threat for Bitcoin users when it came to getting fleeced of their digital currencies always existed online, leaving savvy investors safe offline. Now however, thieves are cottoning on to the fact that there is a way to reach coins offline and have taken their plundering to the streets.

A number of cases have been reported where Bitcoin owners are being attacked face-to-face by thieves and being forced to deposit huge amounts of digital currency into anonymous wallets. It seems that even the usual safety measures taken online are no longer good enough, but there are some steps people can take to make sure they do not become a victim of face-to-face Bitcoin burglary.

One recent incident of an in-person Bitcoin burglary happened on the tranquil holiday resort of Phuket, Thailand in January this year. A Russian businessman was held hostage until he logged onto his computer and transferred around $100,000 of Bitcoin to his attackers.

This form of robbery is getting more and more common, but it is often sparked by people being foolish around revealing their Bitcoin balance, just as the case is when it comes to online security. A Russian cryptocurrency investor and blogger known online as Pavel Nyashin was attacked and robbed in his home in Leningrad Oblast in January 2018. Read more from cointelegraph.com…

thumbnail courtesy of cointelegraph.com