Thai Police Pursue Russian Suspects in $20K Crypto Dispute Assault

Thai police have launched a search for two Russian nationals accused of assaulting and robbing a fellow countryman over a lingering crypto-related dispute, an investigation that began immediately following the victim’s report on January 5.

According to a local report, authorities swiftly issued warrants after reviewing hotel surveillance footage. This incident occurred at a luxury hotel in Karon.

The victim, identified only as Mr. Zelimkhan, reported to local authorities that on the night of January 5, he was attacked in his hotel room by an intruder who sought to settle an unresolved crypto debt.

According to the police, Andrei, the alleged mastermind, confronted Zelimkhan about an outstanding sum of $120,000.

The assailant, after failing to coerce Zelimkhan into unlocking his crypto wallet, resorted to violence, leaving the victim bruised and bound in his bathroom.

Source: Khaosodenglish

The assailants fled with approximately $20,000 in cash, while Zelimkhan eventually freed himself and alerted the authorities.

Thai Police Looking For Russian Suspects: Is This More Than A Crypto Theft?

The sequence of events leading to this alarming incident began with a knock at Zelimkhan’s hotel room door.

Expecting nothing more than routine service, Zelimkhan was instead met by a man speaking Russian, who forced his way inside and launched a physical assault.

Police reports indicate that Andrei had prior business dealings with Zelimkhan in Russia, specifically related to cryptocurrency.

Disputes over profits or failed transactions appear to have been the catalyst for this violence.

As the confrontation escalated, Andrei demanded access to Zelimkhan’s crypto wallet and threatened his life if he refused.

Despite enduring punches and kicks, Zelimkhan withheld his wallet’s password, prompting the assailant to search his belongings instead.

Source: Bangkokpost

The intruder seized $20,000 in cash, tying Zelimkhan to a bathroom door rail and striking him on the head, leaving him unconscious.

CCTV footage later revealed that Andrei fled towards Chalong Five-Way Junction while his accomplice, Dmitri, exited Thailand hours after the attack, heading for Dubai.

Ongoing Manhunt Amid Rise In Cryptocurrency Crimes

According to Chainalysis’ December 2024 Crypto Crime Report, $2.2 billion was stolen from crypto platforms in 2024, a 21.07% increase from the previous year. Hacking incidents increased from 282 in 2023 to 303 in 2024.

Similarly, in September 2024, the FBI reported a 45% increase in crypto-related fraud and theft cases over the past year.

The immense value and anonymity of digital assets make them prime targets for criminal enterprises.

This case in Phuket mirrors other high-profile incidents where illegal control over cryptocurrency has spiraled into physical violence.

Just yesterday, seven Pakistani suspects, including a Counter-Terrorism Department (CTD) officer, were arrested for kidnapping Karachi-based crypto trader Mohammed Arsalan and extorting $340,000 in cryptocurrency.

Arsalan was abducted on December 25 after being lured by a man posing as a potential dollar buyer.

Held for hours, he was forced to transfer the ransom through his Binance account to wallets controlled by the kidnappers.

The Anti-Violent Crime Cell (AVCC) arrested the suspects, including several habitual offenders, but efforts continue to apprehend other accomplices.

Notably, following the attack on Mr. Zelimkhan, the Phuket Provincial Court issued arrest warrants for Andrei and Dmitri on charges of robbery, aggravated assault, and unlawful confinement.

Police Colonel Khundet Na Nongkhai confirmed that while Dmitri managed to flee, Andrei remained within Thai borders.

Immigration and local police forces are coordinating efforts to track him down.

Authorities believe Andrei has evaded detection by avoiding formal accommodation registrations.

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