Crypto Investor Loses $123,000 in London Wrench Attack

In a recent incident, a crypto investor from the United States was drugged and robbed in London. Jacob Irwin-Cline, a resident of Portland, Oregon, was on a two-day layover in the city when he called an Uber after leaving a nightclub in Soho around 1:30 AM on May 9. However, the driver who picked him up was not a legitimate Uber driver, but an imposter who had intercepted his ride request. The fake driver offered Irwin-Cline a cigarette laced with scopolamine, a sedative that causes blackouts while keeping victims conscious and suggestible. Under the influence of the drug, Irwin-Cline unwittingly provided his phone's passcode and access to his crypto accounts. He was later abandoned in an unfamiliar area of London, with his digital fortune drained.

The attackers gained access to Irwin-Cline's digital wallet after obtaining his phone passcode, and authorities later confirmed that they accessed his wallet directly after a forced login of his Revolut account. Irwin-Cline estimates his total crypto losses at $123,000, including $72,000 in XRP tokens, approximately $50,000 in Bitcoin, and several smaller coin positions. He believes that the attacker got "lucky" that he had a "bit of wealth stored away," rather than being specifically targeted.

This incident marks the latest instance across Europe involving a "wrench attack," a term used to refer to physical threats forcing victims to surrender their crypto. Police are investigating the incident amid a rise in physical attacks targeting crypto holders. No arrests have yet been made in this case. Irwin-Cline has expressed doubt that he will ever recover the stolen crypto.

The use of scopolamine in this attack is particularly concerning, as it is a powerful sedative that can render victims helpless and compliant. This incident serves as a stark reminder of the risks associated with holding large amounts of cryptocurrency, and the importance of taking precautions to protect digital assets. It also highlights the need for increased vigilance and awareness of the potential for physical attacks targeting crypto holders.