- A 74-year-old man, Naiping Hou, went missing in California in May, with authorities linking his disappearance to his family’s crypto holdings.
- The victim’s car was found abandoned near a hiking trail, and investigators suspect possible kidnapping and foul play.
- Evidence points to extensive fraudulent activity and identity theft, with more than $1 million drained from Hou’s accounts.
- An unnamed suspect reportedly impersonated Hou to communicate with his family after his disappearance.
- Experts warn that wealthy crypto users risk becoming targets due to poor privacy practices and the public nature of blockchain transactions.
Naiping Hou, aged 74, was reported missing after leaving his California home on a Monday in May without his phone. Authorities soon connected his disappearance to his family’s significant crypto assets.
A few days later, law enforcement discovered Hou’s silver Toyota Yaris abandoned close to a trail in Rancho Cucamonga. By July 7, the San Bernardino County Sheriff’s Department confirmed that its Specialized Investigations Division was treating the case as suspicious and found evidence of “extensive fraudulent activity” involving Hou’s bank accounts. Hou was officially declared missing on May 4, and investigators now consider kidnapping as a possible motive.
According to police statements, an unnamed suspect accessed Hou’s phone and impersonated him in messages sent to his family. No suspects have been publicly identified, and authorities have not ruled out foul play. Hou’s son, Wen Hou—Chief Investment Officer of Coincident Capital—has offered a $250,000 reward for information leading to his father’s safe return. Wen believes someone stole his father’s identity and drained over $1 million from the elder Hou’s accounts. In his interview with KABC, Wen said, “I miss him a lot. He’s sort of a guide to my life.”
Experts say wealthy crypto holders are increasingly exposed to crime due to their online activity and weak privacy measures. Security specialists like CryptoCare’s Nick Harris point to a rise in cases involving physical threats to steal digital assets, sometimes referred to as “wrench attacks.” “There’s a marked increase in cases of kidnapping, threatening and holding people in order to get their seed phrase or to steal their money,” said compliance platform Nominis’ Snir Levi.
Authorities have responded to this trend by using cybercrime and blockchain forensic teams to help trace stolen assets. Levi also highlighted how leaked information, social media activity, or wallet addresses can help criminals target victims.
Hou’s disappearance represents a growing pattern of physical crimes tied to digital currency holdings. Industry leaders urge both investors and exchanges to improve privacy and data protection for all parties involved.
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