Gunmen attack two men conducting a crypto transaction in a car park in Trincity

A man was robbed of $85,000 at gunpoint as he was going to purchase cryptocurrency from someone else in a car park. The incident occurred at around 8:30 p.m. on November 29 in the car park of a pharmacy along Trincity Central Road, Trincity.

The 52-year-old man reported the incident to the Arouca Police Station on Saturday. He said he had met with a 33-year-old man from Belmont with whom they’ve conducted cryptocurrency business for almost two years.

Crypto wrench attacks rise in 2025

The victim told officers that he was sitting in his car before the other man joined him and got into the car with him. He also revealed that he gave the man $85,000 cash in a black bag, which was intended for the purchase of digital assets.

According to a report by local media, two armed men dressed in hoodies attacked the victim shortly after giving the man the money. The victim stated that the robbers approached the car and knocked on both the passenger and driver windows before snatching the cash and cell phones. The robbers escaped in a getaway vehicle and left both men unharmed.

Cryptopolitan reported last month that a thief disguised as a delivery driver robbed a San Francisco homeowner of $11 million in crypto. The robber was armed with a gun and bound the victim with duct tape before forcing him to hand over his wallet, credentials, along with a laptop and phone.

Earlier last month, there was another crypto wrench attack involving a convicted Russian scammer and his wife. Both victims were found dead in the United Arab Emirates after they had met with a group of individuals posing as crypto investors.

A local media outlet reported that Roman Novak was confronted by the men and was demanded to give access to their crypto wallets. According to the report, the robbers gained access to Novak’s wallets but found nothing inside. The assailants later murdered the couple and fled.

UAE-based police revealed that Novak and his wife’s bodies were found dismembered and dumped in bags in the desert near the city of Fujairah. The authorities also tracked the group’s movements as they attempted to cover their tracks by wrapping vehicles before leaving the country for Russia. One assailant was also reportedly fleeing to Georgia. 

An analysis by Jameson Lopp, co-founder and chief security officer at self-custody platform firm Casa, recorded over 60 physical crypto attacks in 2025 alone. Wrench attacks have increased from 32 attacks recorded for all of 2024.

Richards argued that the rise in crypto prices has fueled the surge in crypto attacks. He also believes that criminals are leveraging sophisticated social media and other tech. He cited only 10 cases in France in the first half of 2025, with attacks in the U.S. up by 169%.

Richards warns traders not to flaunt profits and successes

Richards believes that some cases and attacks may have been unreported. He warned that there could be worse crypto wrench attacks through 2026 unless privacy tools and global law enforcement can coordinate at scale fast.

The firm’s CEO added that Novak’s attack was not random, as he had previously scammed $500 million and had a previous conviction for fraud. He also stated that the attack was likely a case of revenge, as reported by local media. Richard noted that Novak was known for flaunting funds in Dubai and would tend to leave digital trails, making him an easier target.

The crypto firm’s official urged retail advisers to remain as boring as possible and not flaunt their profits and successes. He also emphasized that crypto users should use multi-factor authentication and not just two-factor authentication.

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