Russian man beaten and robbed in Thailand over crypto dispute

Thai police have launched a manhunt for two Russian suspects accused of turning a cryptocurrency-related dispute into a violent robbery in Phuket.

According to the local newspaper Khaosod, a 31-year-old Russian national was assaulted and robbed of $20,000 in a hotel in Karon, Phuket. The two suspects, who were known associates of the victim, allegedly confronted him over an unsettled cryptocurrency debt stemming from previous business dealings in Russia.

A complaint with local police alleges that the mastermind, identified as Andrei, reportedly demanded the victim repay $120,000 and attempted to force the victim into unlocking his crypto wallet, even threatening to kill him if he refused.

When the victim resisted unlocking the wallet, he was repeatedly punched and kicked, eventually losing consciousness after being struck on the back of the head. The assailants then fled the scene after stealing cash and left the victim restrained in the bathroom.

One suspect, Andrei, remains in Thailand, while the second, Dmitri, fled to Dubai shortly after the incident. Arrest warrants have been issued, and Thai authorities continue to track the suspects with the assistance of immigration and local police units.

Cryptocurrencies, now more valuable than ever, have increasingly become entangled with violent crime. In 2024 alone, the digital gold rush has fueled a wave of chilling crimes, from high-stakes kidnappings to violent extortions.

In July, four men were arrested for abducting and murdering a 29-year-old tourist in Kyiv, which police said was a premeditated incident over plans to steal 3 Bitcoin. After discovering the victim owned BTC, the suspects followed and assaulted the tourist, attempting to force a Bitcoin transfer before the situation turned deadly.

A month later, a similar case was reported in Santa Teresa de Cóbano beach in Puntarenas, Costa Rica. Eleven Israeli tourists were robbed of a substantial amount of Bitcoin at gunpoint by criminals dressed in police uniforms and believed to have police training.