A recent incident in London highlighted the perils associated with cryptocurrency ownership, as an American tourist found himself swindled out of an astonishing $123,000 in digital assets. After accepting an offer for a cigarette from his cab driver, he reported feeling disoriented and awoke later on the street, his phone smashed and his crypto wallet inaccessible.

Lured by False Pretenses

Jacob Irwin-Cline, the victim in this case, mistakenly boarded what he believed was an Uber ride shortly after 1 a.m. on May 9, 2025. The driver bore a resemblance to the one shown in the app, yet the car didn’t match. He acknowledged neglecting to confirm the vehicle’s license plate, a detail he regretted once he realized the severity of his predicament.

An American tourist lost over $123,000 in cryptocurrency after being duped by a fraudulent Uber driver in London.

Learn more about this shocking event: Read more

— CryptoAlerts (@CryptoAlerts) May 21, 2025

Unwittingly Sedated

Reports suggest that the deceptive driver offered Jacob a cigarette, which he accepted while already feeling drowsy. This cigarette, he suspects, may have contained scopolamine—a strong tranquilizer capable of causing confusion and memory loss. After inhaling, Jacob lost consciousness for about 30 minutes, only to awaken disoriented and alone.

A Stolen Digital Treasure

The most devastating loss was not merely the cash but access to his crypto accounts, safely stored on his smartphone. His frantic search revealed that the taxi had fled the scene, and his phone was nowhere to be found. After continuous attempts to recover the device, Jacob came to terms with the reality of losing access to his $123,000 fortune.

Growing Dangers for Cryptocurrency Owners

This unfortunate event echoes a disturbing trend of crimes targeting cryptocurrency investors. For instance, earlier this month, a French family’s member was held hostage for a multimillion-euro ransom, while another incident involved an attempted abduction of a fintech CEO’s family. Violent acts such as these highlight a growing risk that extends beyond the digital realm.

Essential Safety Measures

In light of such incidents, experts recommend that cryptocurrency owners take proactive measures. Here are some tips to enhance your safety:

• Utilize hardware wallets for storing significant amounts instead of keeping them on mobile devices.
• Double-check every aspect of your ride-share – including license plates, the make and model of the vehicle, and the driver’s record.
• Implement strong passcodes or biometric security on devices that hold sensitive financial information.
• Consider traveling with a companion or security in unfamiliar areas, especially if carrying substantial assets.

The shocking realities faced by Jacob Irwin-Cline serve as a cautionary tale for all crypto enthusiasts. As digital transactions evolve, so do the risks associated with them, both online and offline. Staying vigilant, verifying details, and keeping most investments offline could mean the difference between safety and loss. No one wants to wake up to a significant financial deficit due to negligence.

Image sourced from Pexels; data visualization by TradingView