Here’s Why You Should Never Tell Anyone You’re a Bitcoin Millionaire

A cryptocurrency millionaire nearly lost his life after someone pointed a gun to his head, threatening to shoot him. The multi-millionaire managed to escape, but the incident demonstrates why you should never tell anyone how much your fortune is worth.

Bitcoin Millionaire Almost Lost His Life

A Norwegian multi-millionaire who reportedly made his fortune with cryptocurrency almost lost his life, according to local media outlet TV2.  

In May of this year, the multi-millionaire from Oslo heard his doorbell ringing in the afternoon. As he opened the door to see who is was, the man saw someone point a gun to his head and heard them say, “Lie down or I’ll shoot.”

Fortunately, the multi-millionaire managed to escape after jumping off of his own balcony on the second floor. The report doesn’t say if the man was injured or not. 

The man has spent the past decade working with cryptocurrencies, and it’s said that his account is worth more than $11 million. The report also states that the multi-millionaire has previously been fairly public about how much money he’d made from cryptocurrency, which is perhaps what attracted the attention of the robber.

The case will be brought to court on October 17th and 18th by Oslo police lawyer Ellen Karine Aas. The perpetrator’s attorney said that his client won’t admit to criminal charges and refused to give any further comment. 

It’s not the first time someone’s been targeted for his cryptocurrency riches. Last year in Johannesburg, South Africa, a Bitcoin trader was kidnapped and tortured by several individuals in connection with his Bitcoin holdings.

It’s Important to Stay Safe

There are at least a few things that you can do to prevent yourself from getting into situations of this kind. 

First things first, don’t tell people about your riches. There’s absolutely no value in anyone knowing how much Bitcoin or any other cryptocurrency you own. Silence is golden. If you get into a situation of the kind, however, just lie. Deny as much as you can and try to cast as much doubt as possible even if you own Bitcoin. 

Another thing you can do is keep a small amount of Bitcoin in a separate account that you can always use in order to appease attackers. You can also use a multi-sig wallet and give the other key to a person you trust, or just keep it safe in a deposit box. 

In addition to the above, CryptoPotato has prepared a list of 9 tips that you can use to keep your crypto wallet safe.

Yet, it’s important to remember that there’s no amount of money worth more than your life. If push comes to shove and there’s no other way out, simply forfeit your fortune. It’s definitely less valuable than you are.