Crypto Billionaire Fights Off Kidnappers in Violent Estonia Attack

Australian cryptocurrency billionaire Tim Heath successfully defended himself during a violent kidnapping attempt in Estonia last year, as revealed in recent court proceedings. The founder of Yolo Group and its VC arm Yolo Investments was ambushed in July 2024 by attackers posing as painters near his apartment.

According to Estonian prosecutors, Heath engaged in a brutal 30-second struggle with former boxer Allahverdi Allahverdiyev, biting off part of the assailant's finger before escaping. The attack was allegedly planned by a seven-member criminal group who tracked Heath using GPS and forged documents. Their plan involved transporting him to a sauna to extort his cryptocurrency holdings, with a hacker enlisted to facilitate fund transfers.

While two suspects are currently on trial, authorities continue searching for alleged mastermind Najaf Najafli and other accomplices. Following the incident, Heath invested over $3 million in security measures and is seeking legal restitution. His net worth is estimated at $1.61 billion according to Australian financial reports.

In related security news, cybersecurity firm Sentinel Labs uncovered a North Korean hacking campaign targeting Apple devices in the crypto sector using sophisticated Nim-based malware. The malicious software, dubbed 'NimDoor,' steals wallet data and browser credentials through sophisticated social engineering tactics.

Separately, the U.S. Justice Department is investigating a former DigitalMint employee for allegedly profiting from unauthorized ransomware negotiations. This case emerges amid a broader decline in ransomware payments, with only 25% of targeted companies complying with demands in Q4 2024 - a significant drop from previous years.