A man posing as a delivery driver walked away with $11 million in cryptocurrency after robbing a San Francisco resident, police say. The incident occurred early Saturday evening at a home in the Mission Dolores neighborhood, according to a police report seen by the San Francisco Chronicle. Home security footage, shared online by Y Combinator CEO Garry Tan, shows the suspect dressed in dark clothing, sunglasses, a hoodie, and gloves, carrying a white box. He buzzed the victim's door, claiming to have a package for "Joshua." Once the victim opened the door and turned away to look for a pen, the suspect entered the home, where a loud bang was heard off camera.
Police say the suspect pulled a gun, tied up the victim with duct tape, and fled with the victim's phone, laptop, and the contents of his crypto wallet. Authorities have not released further details on how the cryptocurrency was accessed. The victim, described by Tan as a friend, suffered injuries that were not life-threatening. No arrests have been made.
Tan used the incident to warn about the risks of self-custody in cryptocurrency, suggesting vault storage for long-term holdings. He urged anyone with video footage from the area between 4:30 and 6pm to contact police. It's the latest in a series of robberies and kidnappings targeting cryptocurrency investors. "Kidnappings of crypto investors are definitely on the rise," Steve Krystek, CEO of personal security company PFC Safeguards tells the New York Post. "A lot of the people who come into this money are flashy, and they're signaling that they have wealth."
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