As the cryptocurrency industry continues to grow, so too do the security challenges that come with it. Recent incidents highlight the increasing risks faced by both individual crypto holders and major platforms. Popular streamer Amouranth was the target of a home invasion where attackers allegedly sought access to her digital assets, while Bybit suffered a record-breaking $1.4 billion hack due to a security loophole.
Popular Streamer Amouranth Targeted in Home Invasion by Crypto-Seeking Robbers
Late in the night on March 2, popular streamer and internet personality Kaitlyn Siragusa, widely known as Amouranth, reported being the victim of a terrifying home invasion. The assailants, allegedly three armed men, broke into her residence while demanding access to her cryptocurrency holdings. According to Amouranth’s posts on X, the robbers were yelling for crypto during the invasion, heightening concerns over the growing trend of physical attacks targeting digital asset holders.
In a harrowing series of social media updates, Amouranth detailed the events of the night, explaining that the robbers appeared to be specifically after her cryptocurrency assets. Just hours later, on March 3, she posted a security camera video showing the three men on her property. The footage captured the moment she led them to another section of the house before three loud noises rang out, prompting the invaders to flee the scene.
While it remains unclear whether the noises were gunshots, alarms, or some other form of deterrent, the attackers’ swift retreat suggests that their plan was disrupted. Authorities have yet to release official details regarding the incident, including whether any suspects have been identified or apprehended.
Amouranth’s prominence in the online world has not only made her a successful content creator but also a known figure in the financial and cryptocurrency sectors. In November 2024, she shared a screenshot of her Coinbase account revealing that she held approximately 211 Bitcoin (BTC), valued at around $20 million at the time. The screenshot also indicated holdings of around $80,000 in Ether (ETH). Given her public transparency regarding her wealth, some speculate that the attackers may have specifically targeted her due to these disclosures.
With her significant cryptocurrency holdings and history of financial openness—including appearances on YouTube financial shows—Amouranth has been vocal about investment strategies and wealth accumulation.
Amouranth’s ordeal adds to a growing list of “crypto wrench” attacks, a term used to describe physical threats or coercion aimed at forcing victims to transfer their digital assets. These crimes have surged in 2025 as cryptocurrency’s mainstream adoption continues to rise, making high-net-worth holders prime targets for criminals.
Several high-profile incidents in recent months have underscored this alarming trend:
January 2025: A Canadian volunteer moderator for a crypto forum reportedly went into hiding after kidnappers attempted to abduct him and force him to transfer his Bitcoin holdings.
Jan. 21, 2025: David Balland, co-founder of Ledger, was allegedly abducted from his home, with the assailants demanding a crypto ransom before his eventual release.
February 2025: Another alleged crypto-related kidnapping attempt occurred in Chicago, reinforcing concerns that such attacks are becoming more frequent and geographically widespread.
Speaking on the rising trend of crypto-related physical attacks, security expert “Dr. Anon” explained in an interview that these attacks are “frequently ‘your money or your life’ situations carried out by sophisticated, professional, and organized criminals.” He also advised crypto holders to take proactive security measures, including the use of “decoy” wallets containing only a small portion of funds that can be surrendered under duress.
The attack on Amouranth serves as a chilling reminder of the risks associated with holding and publicly discussing large cryptocurrency holdings. With digital assets being decentralized and irreversible once transferred, they remain a prime target for criminals who see an opportunity to exploit high-profile or wealthy individuals.
Security experts suggest several precautions that crypto holders should take to mitigate risk:
Avoid publicly sharing holdings: Broadcasting crypto balances on social media can make individuals targets.
Use hardware wallets: Keeping assets in cold storage rather than online exchanges limits immediate access.
Implement multi-signature wallets: Requiring multiple approvals for transactions can make forced transfers more difficult.
Have a security plan: Personal safety should be a priority, with home security systems and contingency plans in place.
The Bigger Picture: Crime and Cryptocurrency
The attempted robbery at Amouranth’s home is part of a broader discussion around the risks and regulatory concerns surrounding cryptocurrency. Unlike traditional bank accounts, which have fraud protection and centralized control, digital assets rely solely on their owners to ensure security. Once funds are transferred, they are nearly impossible to recover.
Law enforcement agencies worldwide have been increasingly working on strategies to combat crypto-related crimes, but decentralized technology often complicates tracking and prosecution. Cases like Amouranth’s show the urgent need for heightened security measures, both for individuals and the industry as a whole.
While Amouranth appears to have escaped physical harm, the psychological toll of such an invasion cannot be understated. The attack serves as a stark warning to high-profile cryptocurrency holders about the real-world dangers that accompany digital wealth. As crypto adoption continues to expand, so too must the awareness of security risks and the necessary precautions to prevent such terrifying incidents in the future.
Crypto Hack Losses Surpass $1.5 Billion, Experts Urge Stronger Bug Bounty Programs
In other news, as cryptocurrency-related security breaches continue to escalate, losses from hacks have now surpassed $1.5 billion, according to a report by blockchain security firm CertiK. The staggering amount, fueled largely by the historic $1.4 billion Bybit hack, has prompted cybersecurity experts to call for more robust bug bounty programs to attract top-tier ethical hackers and strengthen platform security.
On March 3, CertiK reported that the total losses from cryptocurrency hacks in February alone reached $1.53 billion. The vast majority of this sum—more than $1.4 billion—came from the exploit of Bybit, a major cryptocurrency exchange. However, even without this incident, the firm found that additional hacks and exploits resulted in $126 million in losses, including a $49 million theft from Infini.
This rising wave of attacks sheds light on the increasing sophistication of malicious actors in the crypto space, who continually exploit vulnerabilities in both centralized and decentralized platforms. Ethical hacker Marwan Hachem said recently that these figures signal an urgent need for better bug bounty programs to incentivize white hat hackers to identify vulnerabilities before bad actors do.
Hachem, who serves as the chief operating officer at cybersecurity firm FearsOff, criticized the bug bounty framework employed by Safe, the multisignature wallet provider used by Bybit. According to him, Safe’s bug bounty program classified front and back-end bugs as ‘out of scope,’ meaning ethical hackers who discovered these vulnerabilities were not eligible for rewards.
This oversight proved disastrous. The Bybit hack occurred due to a vulnerability that was excluded from the bounty program’s scope. As a result, while ethical hackers had no incentive to report such vulnerabilities, criminals exploited them for one of the largest thefts in crypto history.
“What they considered out of scope led to the biggest crypto hack in history,” Hachem stated. “We often breach platforms through bugs found in out-of-scope assets. Ethical hackers wouldn’t get rewarded for such findings, but criminals exploited them and stole $1.5 billion from Bybit.”
Hachem pointed out that Bybit’s official bug bounty program offers a maximum reward of $4,000 on its website and up to $10,000 on the HackerOne platform. These amounts are negligible compared to the multi-million-dollar sums that malicious hackers can potentially steal.
The cybersecurity expert argued that offering larger bounties upfront to ethical hackers would be far cheaper and more effective than trying to recover funds after a breach. He criticized the industry’s tendency to offer 10% of stolen funds as white hat rewards post-hack, stating that such reactive measures only embolden malicious actors rather than preventing attacks in the first place.
“Motivating top ethical hackers to dedicate their time and attention to testing an exchange by offering higher rewards will greatly improve its security, will be a lot cheaper, and will safeguard its reputation,” Hachem emphasized.
While bug bounty programs are crucial, cybersecurity experts also stress the need for stricter security measures to prevent incidents like the Bybit and Infini hacks from recurring. A spokesperson from CertiK said recently that several industry-standard practices must be adopted, including:
Air-gapped signing devices to prevent unauthorized transactions.
Non-persistent OS environments for transaction approvals to reduce exposure to malware.
Enhanced authentication layers for high-value transactions to prevent unauthorized access.
Additionally, the firm recommended regular red-team exercises and phishing simulations to mitigate social engineering risks, which remain a major attack vector in the crypto space.
CertiK’s report provided insights into the specific vulnerabilities that led to the Bybit and Infini hacks:
The Bybit exploit was the result of a phishing attack, where multisignature signers were deceived into approving a malicious contract upgrade, effectively allowing attackers to gain access to users’ funds.
The Infini hack occurred due to an admin private key leak, which allowed attackers to make unauthorized withdrawals.
Both cases show the dangers of blind signing and inadequate transaction verification. CertiK emphasized that stronger authentication protocols, real-time transaction monitoring, and improved user interface security are necessary to prevent such breaches in the future.
The Future of Crypto Security
As the cryptocurrency sector continues to evolve, exchanges and other platforms must prioritize prevention over reaction. The rise in large-scale hacks demonstrates that weak security practices and insufficient bug bounty incentives are actively being exploited by criminals.
Bybit’s record-breaking $1.4 billion hack should serve as a wake-up call to all crypto exchanges and wallet providers. Security must become a top priority, with an emphasis on:
Significantly increasing bug bounty rewards to attract the best ethical hackers.
Expanding the scope of security programs to cover all possible vulnerabilities.
Implementing stronger authentication measures for both internal and user transactions.
Conducting regular penetration tests and security audits to identify risks before attackers do.
The surge in cryptocurrency-related hacks, culminating in February’s $1.5 billion losses, highlights the urgent need for stronger proactive security measures. Exchanges must rethink their approach to cybersecurity, ensuring that ethical hackers are adequately incentivized to uncover vulnerabilities before they can be exploited by criminals.
With cybercriminals continuously adapting their tactics, the crypto industry must stay ahead of the curve. By offering more competitive bug bounty programs, tightening security protocols, and implementing stricter authentication measures, crypto platforms can significantly reduce their risk exposure and safeguard user funds from future attacks.
Source: https://coinpaper.com/7805/amouranth-reports-home-invasion-as-crypto-wrench-attacks-rise