Crypto Executive Robbed Before Major Ethereum Conference in Thailand

TLDR

• Rooch Network co-founder Haichao Zhu robbed at knifepoint in Bangkok before Devcon
• Incident occurred at 4:30 AM after late-night flight arrival
• Recent pattern of violent attacks at crypto events, including EthCC in Brussels
• UN reports increased crypto-related crimes in Southeast Asia, with losses between $18-37B in 2023
• Devcon 7 scheduled for November 12-15 in Bangkok, drawing thousands of attendees

A series of violent incidents targeting cryptocurrency conference attendees has continued with the recent robbery of Rooch Network co-founder Haichao Zhu in Bangkok, Thailand.

The attack occurred just days before the start of Ethereum’s Devcon conference, highlighting ongoing safety concerns at major crypto events.

Zhu reported being confronted by two assailants armed with knives at approximately 4:30 AM local time. The incident took place after his late-night flight arrival, during which the attackers stole his phone.

While Zhu escaped without physical injuries, the robbery adds to a growing list of security incidents at crypto conferences worldwide.

The victim later issued a public warning to fellow conference attendees about the risks of traveling alone during nighttime hours in the Thai capital.

I got robbed, by 2 guys, who have a knife.
No hurts but I lost my phone.

If you are also traveling to Bangkok for Devcon or @babylonlabs_io hacker house.
Please be careful not to go out alone at midnight. I had to cause my flight arrives at 3am. (got robbed at 4:30am)…

— Haichao (@HaichaoZ) November 5, 2024

“Generally speaking, Bangkok is still a safe and fun place, but just like all other places, you gotta watch out for the darkness,” Zhu stated in his message to the community.

This incident follows several violent confrontations reported during the Ethereum Community Conference (EthCC) in Brussels earlier this year.

Among these, Kilt Protocol’s growth head, Rishant Kumar, successfully fought off an attacker near the conference venue. Another attendee suffered a knee injury during a separate robbery attempt.

In one of the more severe cases at EthCC, an attendee reported having a gun pointed at their head during a robbery, underlining the escalating nature of these security threats.

Just be careful when roaming around in #Brussels & around #EthCC venue, lot of thugs targeting crypto folks.

Someone just tried to attack me n rob me, I had to punch the fucker. Heard similar thingy from another person as well who did got robbed. #StaySafe@ETHCC

— Rish (@Officially_Rish) July 9, 2024

The timing of the Bangkok robbery raises particular concerns as thousands of developers and industry participants prepare to gather for Devcon 7, Ethereum’s premier developer conference. T

he event is scheduled for November 12-15 at the Queen Sirikit National Convention Center and will feature prominent speakers including Ethereum co-founder Vitalik Buterin and Ethereum Foundation executive director Aya Miyaguchi.

The United Nations Office on Drugs and Crime (UNODC) has recently released a report highlighting increased crypto-related criminal activity in Southeast Asia.

The organization estimates that financial losses from scams targeting victims in East and Southeast Asia ranged between $18 billion and $37 billion in 2023.

According to the UNODC report, bad actors in the region are increasingly leveraging cryptocurrency for various criminal activities. These groups are “producing larger scale and harder to detect fraud, money laundering, underground banking, and online scams.”

The pattern of robberies and attacks has prompted discussions about security measures at crypto events. Conference organizers worldwide are facing pressure to enhance safety protocols and provide better protection for attendees.

Local law enforcement agencies have been notified of the recent Bangkok incident, though no arrests have been reported as of yet. The stolen phone has not been recovered.

The cryptocurrency community has responded to these incidents by sharing safety tips and encouraging buddy systems when traveling to and from conference venues, particularly during late hours.

Event organizers for Devcon 7 have not yet issued any formal statement regarding additional security measures in response to the recent robbery.

The string of incidents has led to increased awareness about personal safety among conference attendees, with many now taking extra precautions such as avoiding solo travel and staying in well-lit, populated areas.

Conference veterans are advising new attendees to remain vigilant and take basic safety precautions, such as not displaying valuable items and being aware of their surroundings at all times.

Similar security concerns have been raised at crypto events in other major cities, suggesting this is not an isolated issue limited to any particular location or conference.

The most recent data available indicates that attacks on crypto conference attendees have occurred in at least five major cities over the past year.