$11 Million in Cryptocurrency Stolen in Armed San Francisco Home Invasion
SAN FRANCISCO – A San Francisco resident was robbed of $11 million in cryptocurrency Saturday evening in a brazen home invasion in the city’s Mission District, police confirmed. The suspect, posing as a delivery person, allegedly brandished a firearm and restrained the victim with duct tape before fleeing with the digital assets.
The incident, which occurred around 6:45 p.m. on dorland Street, highlights a growing trend of targeted attacks against individuals holding large sums of cryptocurrency.While the victim sustained non-life-threatening injuries, the theft underscores the vulnerabilities associated with securing significant digital wealth.
San Francisco police responded to the residence and are currently investigating. As of Monday evening, no arrests have been made.
Tech experts warn that such crimes are becoming increasingly common, with some victims reporting even more extreme tactics like kidnapping and torture. Ahmed Banafa, a San Jose State professor and author of a book on cryptocurrency security, emphasized the importance of diversifying cryptocurrency holdings.
“If you have 11 million dollars… I’m not going to keep it on one device. I can divide it into multiple devices, in multiple wallets. It’s like having your money in multiple accounts in the bank,” Banafa explained.
Banafa also recommends utilizing multi-signature authentication – requiring multiple approvals for any cryptocurrency transfer – and bolstering physical security measures at one’s residence, including cameras and cautious door protocols.
anyone with information regarding the incident is urged to contact the San Francisco Police Department.
