Australian Crypto Billionaire Fights Off Kidnapper, Bites Finger Off
Australian Billionaire Tim Heath Survives Kidnapping Attempt in Estonia
Tim Heath’s Harrowing Escape from Abduction
Australian billionaire Tim Heath narrowly avoided a kidnapping plot in Estonia, where assailants attempted to extort his cryptocurrency holdings in a meticulously planned operation.
Local reports indicate that Heath had to engage in a physical struggle with his attackers, even resorting to biting one of them to escape and reach safety.
Background on Tim Heath and His Ventures
Heath, a prominent figure in the cryptocurrency space, hails from Victoria and is the founder of Yolo Group, a company based in Estonia that operates in fintech, blockchain, and online gambling. Having resided in Tallinn for nearly twenty years, his net worth is estimated to exceed 2.2 billion Australian dollars.
Details of the Attack
The attempted kidnapping occurred on the evening of July 29, 2023, in the stairwell of Heath’s apartment located in Tallinn’s historic Old Town. Two men disguised as painters ambushed him as he entered his building, trying to force him into a waiting vehicle.
During the confrontation, one attacker, a former Greco-Roman wrestler, attempted to silence Heath by covering his mouth. In a desperate move, Heath bit the man’s finger, allowing him to break free and retreat to his apartment.
Investigation and Criminal Network
Following the incident, investigators revealed that the attempted abduction was part of a broader conspiracy involving a group of seven individuals. The attackers had tracked Heath’s movements for weeks, using a GPS device placed on his car and conducting in-person surveillance.
The group entered Estonia using forged Georgian passports after traveling through Paris and Finland, arriving in Tallinn just days before the kidnapping attempt. Court documents indicate they purchased painter uniforms and various tools from local hardware stores to prepare for the ambush.
Their plan involved transporting Heath to a rented sauna where they intended to coerce him into transferring his cryptocurrency assets. A hacker was also enlisted to aid in accessing the funds.
Legal Proceedings and Ongoing Threats
Currently, two suspects, Allahverdi Allahverdiyev from Azerbaijan and Ilgar Mamedov from Georgia, are facing trial in Estonia. Meanwhile, three other suspects remain unidentified, and two, including the alleged mastermind Najaf Najafli, are still at large.
Weeks after the failed kidnapping, Heath received a Telegram message demanding 30 Bitcoin, accompanied by photographs taken outside his home. Although he did not respond, prosecutors warn that the threat may linger. In response, Heath has changed his residence, enhanced his security measures, and invested over €2.7 million in personal protection, while his legal team seeks restitution from the accused.
Rising Incidents of Crypto Kidnappings
In recent months, there has been a noticeable increase in high-profile kidnapping cases targeting cryptocurrency investors globally. In one incident from May, two crypto investors in Manhattan were arrested for holding an Italian man captive for 17 days in an attempt to access his Bitcoin wallet.
Another case in Florida involved three teenagers charged with kidnapping and robbing a crypto event organizer of $4 million in digital assets and NFTs.
France has also seen a spike in crypto-related kidnappings. Earlier this year, police intervened in a case involving the mutilation of a crypto investor’s father and the attempted abduction of the daughter of a CEO from a Paris-based exchange. Both incidents were linked to the same criminal network, leading to multiple arrests, including that of a suspected ringleader captured in Morocco.
