According to a recent report, Zaryn Dentzel, the founder of the popular mobile virtual network operator Tuenti, had his bitcoins stolen. The crime took place in his home after a group of five perpetrators broke in and tortured him for his password, which held the BTC wealth.
Dentzel, who has lived in Spain for many years, was in his Madrid home with a friend and a maintenance worker when the doorbell rang.
When he opened the door, several people entered wearing hoodies and masks to conceal their identities, covering the in-house security cameras, tying Dentzel up, and spraying him in the eyes.
Soon after, the actual assault began, with the perpetrators repeatedly beating Dentzel for hours. After being cut and electroshocked, the victim finally surrendered and revealed the password to his bitcoin account.
Dentzel stated in it that he possessed “millions of euros” in the primary cryptocurrency.
The perpetrators also stole laptops, phones, and tablets before fleeing the scene.
Early police estimates suggest that the attackers were from Eastern Europe based on their accents.
Such incidents emphasize the importance of investors taking extra precautions to safeguard their digital wealth, as the narrative “not your keys, not your bitcoins” is insufficient in this case.
Multi-signature devices, in which investors can add two or more private keys to sign and send a transaction, could be a solution. This could improve security, especially if the private keys are kept in different locations.