- Four individuals in London were convicted for kidnapping a Belgian man who claimed online to have a large cryptocurrency fortune.
- The attackers used weapons to demand access to his crypto wallet, which contained only $9.
- They ultimately took $2,700 from the victim’s bank account before releasing him.
- The incident is part of a growing trend called “wrench attacks,” where physical violence targets perceived crypto holders.
- Experts warn that displaying wealth online can make people targets, but some argue this does not excuse criminal actions.
A London court has convicted four people for kidnapping a Belgian barber after he falsely presented himself online as a cryptocurrency millionaire. The incident took place in May 2023, when the group lured the man, Quentin Cepeljac, to London promising a luxury experience following his public claims of holding a Bitcoin fortune.
Upon arrival, Cepeljac was taken to a small apartment in Shepherd’s Bush, where he was ambushed by three men and a woman, including one who had befriended him on social media weeks earlier. Armed with a machete and a knife, the group demanded access to his crypto wallet, but found only $9 in it. They then lowered their demands, settling for $2,700 withdrawn from Cepeljac’s bank account after initially asking for as much as $67,000.
According to a report from The Times, all four defendants admitted to blackmail at Isleworth Crown Court. Police identified the suspects using phone records and Airbnb information, meeting Cepeljac at St. Pancras station after his release.
The attack has brought attention to the rise in so-called “wrench attacks” — incidents where criminals bypass digital security by threatening victims in person to gain access to their crypto holdings. These crimes often target people who display apparent wealth related to cryptocurrency on social media.
Eyal Gruper, CEO of Bitcoin recovery platform RITREK, told Decrypt that flaunting assets online can attract criminals: “Criminals target holders just like they would if you posted an Instagram Story showing a luxury watch by the pool.” The article notes that “flex culture” — the act of showing off wealth or successes online — increases these risks, though others like Callum Mitchell-Clark of Alvara argue crime is a deliberate choice by perpetrators, not a consequence of visibility.
A similar case occurred in France, where attackers abducted a TikTok crypto influencer based on social media posts, only to discover he had no funds. Incidents like these highlight the need for caution when sharing financial information publicly.
Further details about charges, pleas, and sentencing are pending formal records and may be updated upon release of new information.
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