A cryptocurrency investor based in London has lost almost all his digital asset investments to armed robbers following a physical attack in his home.

An X post by the victim, pseudonymously named Ram, revealed that the three thieves were armed with machetes and forced him to transfer all his crypto to certain accounts.

Investor Loses $4M Crypto to Robbers

According to Ram, the robbers were aware of his residence and knew he had crypto. Upon arrival at his home, they forced him to open his Ledger wallet and transferred over $3.7 million worth of ether (ETH) to their addresses. Ram said he was lucky not to get stabbed.

“This just happened – 3 guys physically robbed me at my home. They were armed with machetes. They knew I had crypto and knew where I lived…I’m still in a state of shock. This is one of the worst experiences of my life,” the crypto investor stated.

Data from Etherscan shows the transactions moved 1,098 ETH from one address and 13 ETH from the other. With ETH trading at around $3,400 at the time of writing, the stash is collectively worth more than $3.77 million.

Due to the theft, Ram’s wallet addresses now hold less than $63,000 worth of crypto assets, including StakeWise (SWISE), Unibot (UNIBOT), USD Coin (USDC), Staked Aave, and FOX.

Kraken Investigating Incident

Through his tweet, Ram sought the help of on-chain sleuth ZachXBT and crypto exchanges Binance, Coinbase, and Kraken to recover the funds. Digital asset influencer and investor James Crypto Guru revealed that the thieves were selling the assets on Kraken through the Bitrefill payment gateway, tagging the exchange’s support team to look into the matter.

In response to James’ tweet, the Kraken Support team disclosed that they were investigating the situation; hence, Ram faces the possibility of recovering some of his stolen assets. Ram’s experience highlights the importance of investors keeping mum about their crypto holdings.

While offline crypto thefts are rare, online attacks have remained on the rise. Recently, decentralized finance protocol UwU Lend and omnichain tokenization platform Holograph lost $20 million and $14.4 million, respectively, after attackers exploited vulnerabilities in their smart contracts.

The post This Crypto Investor Lost Nearly $4M in Ethereum (ETH) to Armed Robbers appeared first on CryptoPotato.

On-chain data shows that Bitcoin has been seeing an exodus of investors recently, while the Ethereum network has continued to grow.

Total Amount Of Bitcoin Holders Have Just Seen Largest Drop Since March

According to data from the on-chain analytics firm Santiment, the Total Amount of Holders indicator has just seen its largest 3-day drawdown for Bitcoin since March.

As the metric’s name already implies, the “Total Amount of Holders” keeps track of the total number of wallets on a given cryptocurrency network currently carrying a non-zero balance.

When the value of this metric goes up, it suggests that either new investors are joining the blockchain or old ones who had left earlier are coming back. The indicator also naturally rises when existing users create new addresses for privacy.

Whatever the case, the rising number of holders generally implies a net amount of adoption for the asset, which can be bullish for its price in the long term.

On the other hand, the metric heading down implies a net number of users are completely emptying their wallets. Such a trend suggests some holders have decided to exit from the cryptocurrency.

Now, here is a chart that shows the trend in the Total Amount of Holders for the top two coins in the sector, Bitcoin and Ethereum, over the past six months:

As the above graph shows, the total number of holders has recently registered a decrease for Bitcoin, suggesting that some selling has occurred. The recent 3-day drop is the sharpest the indicator has seen since just before the price’s all-time high back in March.

The drop was because investors booked their profits while the rally was still on. This time around, however, the cryptocurrency’s price has been going through bearish action instead, so this exodus of holders is likely occurring due to fears around further drawdowns.

While Bitcoin has seen the Total Amount of Holders go down, the indicator hasn’t broken its uptrend for Ethereum, as the network has continued to set new highs. Thus, it would seem like the ETH investors aren’t going through capitulation yet.

Historically, assets have tended to move against the investors’ expectations, so fear in the market has often helped turn the price around. As Bitcoin investors appear to be fearful right now, it’s possible that a bottom could be near for the coin.

Ethereum’s adoption continuing to happen at the same rate as earlier may not exactly be bearish, but it does show that its users aren’t worried about the price yet.

BTC Price

At the time of writing, Bitcoin is trading at around $64,700, down almost 3% in the past week.