A 24-year-old man was stabbed to death in Norway a short time after completing a cash-for-Bitcoin transaction.
The world of cryptocurrency is a virtual one, but there are possible real-life consequences to physically trading BTC and other virtual currencies when criminals become involved. Law enforcement in Norway is investigating the murder of a 24-year-old man who was stabbed to death sometime after taking part in a cash-for-Bitcoin transaction.
Police Investigating Possible Bitcoin Link
The victim was murdered Monday morning in Oslo, Norway. He was apparently killed in the mid to late morning.
Police are investigating a possible Bitcoin connection to the crime. It’s reported that the victim had completed a cash-for-Bitcoin deal shortly before his murder.
Grete Lien Metlid, the head of the Oslo police’s intelligence and investigation unit, told local media:
We are familiar with a tip about Bitcoin, but at this time we will not provide more information about the investigation.
Metlid did confirm that they were looking at an economic motive as one of the possible reasons for the murder.
The victim was known amongst his social circle for his cryptocurrency dealings, and it seems that he kept a supply of cash within his apartment for his trading.
At the current time, no arrests have been made. Police are going through video surveillance and are canvassing the neighborhood to come up with possible leads.
Violent Crypto Crime
One should always be careful when it comes to making personal transactions with people, especially when fiat is involved. Criminals are quite happy to set up a fake exchange in order to rob a trader of their cash or their cryptocurrency. Earlier this year, a Taiwanese trader and his friend were beaten up by a gang of four men before being robbed of $170,000 in bitcoins.
Live Bitcoin News reported earlier today that two suspects in a home invasion in Connecticut have been arrested. The catalyst for the robbery was a Bitcoin account set up in one of the attacker’s name. The criminal felt their money had been stolen, so they enlisted a friend to help them break into a home and rob the occupants. One occupant was pistol-whipped while another was hit with an electric cattle prod.
It should go without saying that one should exercise a great deal of caution when meeting someone in real life to conduct a trade that involves cryptocurrency or cash. The world is a dangerous place, and the vast sums of money associated with cryptocurrency is a potent lure for violent criminals.
Do you take precautions when making a cash-for-BTC trade? Let us know in the comments below.
Images courtesy of Shutterstock.