Australian crypto billionaire Tim Heath survived a kidnapping attempt in July last year in the stairwell of his apartment building in Tallinn, Estonia.
Two men posing as painters tried to abduct him for ransom amid a surge in crypto‐related crime. Heath fought back by biting an attacker’s index finger and managed to break free and escape to safety.
The Kidnapping Attempt
Heath, known for founding the Estonia‑based Yolo Group and its venture capital arm Yolo Investments, was returning home when two men dressed as painters blocked his path.
One of them, later identified as Allahverdi Allahverdiyev, an Azerbaijani former boxer and wrestler, covered Heath’s mouth with his hand. His accomplice moved to guide Heath toward a waiting van.
In the struggle, Heath bit through Allahverdiyev’s index finger and wrenched himself free. He stumbled up to his flat and locked the door.
The entire fight lasted around 30 seconds. He lost a tooth in the scuffle. Both attackers fled, abandoning their van nearby. Part of the bitten‑off finger was found about 100 meters from the scene.
Also Read: French Police Arrest Suspects In Gruesome Kidnapping Of Crypto Entrepreneur’s Father
Rising Threat to Crypto Executives
So far, 2025 has seen a spike in violent crimes against crypto investors and executives. High‑profile figures are targeted because public blockchain data and new rules make their assets easier to trace.
The FATF Travel Rule now obliges exchanges to share customer identities for transactions over set thresholds. When this requirement meets blockchain transparency, it reveals who controls large sums of crypto. Criminals can then zero in on these individuals.
Privacy and Regulation Clash
Experts warn that enforcing the Travel Rule without strong privacy tools creates risk. Raido Saar, president of the Estonian Web3 Chamber and CEO of digital identity platform Matter‑ID, says there is no large‑scale way to meet compliance without exposing personal data.
He describes a conflict between following rules and protecting human rights. Saar warns that once privacy gaps appear, anyone with a known crypto stake could be in danger.
Heath’s Background and Response
Originally from Victoria, Australia, Heath built Yolo Group into a major fintech, crypto and igaming investor. The Australian Financial Review Rich List puts his net worth at 2.46 billion AUD ($1.61 billion).
After the attack, Heath increased security at his homes and offices. He also called for tighter safeguards in crypto banking, urging exchanges to develop privacy‑preserving identity checks.
Industry Reaction
Crypto firms are feeling the pressure. Some have begun installing panic buttons in private lifts. Others offer bodyguard services to top clients. Insurers have started adding kidnap‑and‑ransom coverage as a standard option for accounts with high balances.
Regulators face a dilemma and strict identity rules help stop money laundering but also expose customers. Without new technology, they risk trading one problem for another.
Crypto kidnapping cases have climbed sharply this year. Victims now include not just executives but also private investors. In the first half of 2025, at least 15 incidents were reported across Europe and Asia.
Also Read: French Crypto TikToker Kidnapped, Released After Failing To Pay €50K Ransom