Australian Crypto Billionaire Tim Heath Survives Kidnapping Attempt in Estonia

According to Cointelegraph, Australian crypto billionaire Tim Heath narrowly escaped a kidnapping attempt in Estonia last year by biting off part of an attacker's index finger. Heath, a prominent figure in the crypto industry, was ambushed by two men posing as painters in the stairwell of his apartment building in July. This incident is part of a worrying trend of crypto-related kidnappings in 2025, prompting executives to enhance their security measures. One of the attackers, Azerbaijani national Allahverdi Allahverdiyev, who has a background in boxing and wrestling, attempted to silence Heath by covering his mouth. However, Heath managed to bite through the assailant's finger and retreat to his apartment. The attackers fled the scene, leaving behind a van and part of the finger, which was later discovered 100 meters from the attack site. Heath, originally from Victoria, Australia, is the founder of the Yolo Group and its venture capital arm, Yolo Investments, which focuses on fintech, crypto, and igaming. His net worth is estimated at 2.46 billion Australian dollars ($1.61 billion), placing him at number 66 on the Australian Financial Review Rich List. The kidnapping plot was reportedly months in the making, with a group of seven individuals allegedly tracking Heath using a GPS device on his vehicle. The group entered Estonia with forged Georgian passports and purchased painters' uniforms to disguise themselves as workmen. Their plan was to abduct Heath, take him to a rented sauna house, and force him to transfer his crypto assets. A hacker was allegedly involved to assist in the operation. Besides Allahverdiyev, Georgian citizen Ilgar Mamedov has been arrested, while two others, including the alleged mastermind Najaf Najafli, are wanted by police. Three additional suspects remain unidentified. In court, Allahverdiyev claimed he was promised 100,000 euros ($118,000) for the kidnapping but insisted he only pretended to participate and later advised the group to abandon the plan. Prosecutors allege Mamedov was the getaway driver, but he denies any involvement, stating he was in Estonia by accident. The threat to Heath may still persist, as prosecutors revealed that weeks after the failed kidnapping, Heath received a Telegram message with photos of his apartment and a demand for 30 Bitcoin, valued at approximately $3.3 million at the time. Although no further contact was made after Heath ignored the message, prosecutors argue the threat remains. Heath has since invested over $3.1 million in private security and relocated. His legal team seeks reimbursement for these expenses from the accused kidnappers.