London Gang Kidnaps Wrong Guy—Barber Mistaken for Bitcoin Billionaire in Bungled Crypto Heist
When crime meets crypto, things get messy fast. A London gang just learned that lesson the hard way—after kidnapping an innocent barber they believed was sitting on a Bitcoin fortune.
The Case of Mistaken Crypto Identity
Targeting what they thought was a digital asset whale, the crew allegedly orchestrated an elaborate abduction—only to discover their victim’s net worth was measured in haircuts, not Satoshis. Talk about a bad trade.
Justice Served Cold
All suspects now face convictions, proving even blockchain-related crimes leave an immutable trail. Meanwhile, the actual Bitcoin billionaires? Probably laughing behind their hardware wallets—while shorting the gang’s life choices.
Finance punchline: If only they’d spent that effort researching charts instead of victims, they might’ve actually made money.
Crypto ‘flex culture’ and wrench attacks
The case has become part of a wider trend known as "wrench attacks," where perceived crypto holders are extorted through physical force. These attacks target people directly, bypassing digital security.
In a similar case, a TikTok crypto influencer in France was kidnapped and held for ransom, only to be released after his attackers discovered he was broke. The gang had tracked him based on social media posts and believed in his supposed wealth.
“Flex culture in crypto is perilous: Criminals target holders just like they would if you posted an Instagram Story showing a luxury watch by the pool,” Eyal Gruper, founder and CEO of self-custodial bitcoin recovery platform RITREK, told Decrypt.
Flex culture, derived from the slang term “flexing,” refers to the act of showing off wealth, status, or possessions, often to impress others.
“Opportunists lurk in the same channels you use, following industry insiders’ feeds and monitoring conference hashtags to spot anyone worth coercing,” Gruper said.
In crypto, this includes flaunting wallet balances, NFT purchases, profitable trades, or high-profile travel to industry events.
Still, some see the focus on flex culture as misplaced.
“Flex culture isn’t unique to crypto, it exists across industries,” Callum Mitchell-Clark, co-founder of tokenized basket management protocol Alvara, told Decrypt.
Mitchell-Clark argues pointing to flex culture misses the point and risks deflecting responsibility from perpetrators.
“Blaming it for violent crime shifts attention away from the real issue: the criminals,” he said. “Violence is a choice, not a consequence of visibility, and we shouldn’t excuse it by pointing fingers at victims."
