Rooch Network Co-Founder Robbed At Knifepoint After Landing In Bangkok For Devcon; urges Attendees To Stay Vigilant

Haichao Zhu, co-founder of Rooch Network, is taking to social media to warn attendees of Devcon to exercise caution and urging them to avoid late-night outings alone after he held at knifepoint to surrender his valuables, which includes his phone which was stolen by two assailants.

Fortunately, Zhu escaped unharmed but expressed disappointment with the local police response, saying that he spent the entire night at the police station without resolution.

Zhu assured attendees, but urged them to take precautions

A troubling incident just days before the event has raised security concerns for the Ethereum community and questions of their personal safety while roaming around the streets of Bangkok.

Zhu reassured followers that Bangkok is still generally safe and enjoyable but attendees should still remain vigilant and “watch out for the darkness,” just like all other places.

Jole Star, Rooach Network's second co-founder, mentioned in a separate post that he and Haichao Zhu would be reaching out to local shops near the crime scene to review surveillance footage, though he acknowledged it might be challenging to identify the assailants.

Ethereum Devcon, is the Ethereum Foundation's biggest annual gathering, with the seventh edition of the conference set to begin on November 12, at the Queen Sirikit National Convention Center in Bangkok.

Key figures like Ethereum co-founder Vitalik Buterin, Ethereum Foundation executive director Aya Miyaguchi, and Portugal's former secretary executive director Aya Miyaguchi, and Portugal's former secretary Bruno Macaes, among other prominent leaders in decentralized tech who will be attending the event.

Robbery targeted at the crypto community

Despite the city’s vibrant appeal, Zhu’s warning serves as a call for heightened awareness, especially in light of similar incidents at recent crypto events worldwide.

A similar attack has occurred during July's Ethereum Community Conference (EthCC) in Brussels, where attendees had reported multiple robberies, including a gunpoint confrontation and a physical altercation near the event.

Rishant Kumar, Kilt Protocol's head of frothwt and an attendee at the conference, warned of "thugs targeting crypto folks," recounting his own experience fending off an attacker.

There has been a concerning trend this year, with several attempted robberies all targeting individuals with connections to cryptocurrencies.

In August, eleven Israeli tourists were attacked and $700,000 worth of Bitcoin was stolen from them. Just a month earlier, a 29-year-old was murdered after attackers forced him to transfer nearly 3 Bitcoins.

Crypto Crime on the rise in Southeast Asia

This attack on Zhu arrives amid a reported rise in crypto-related crime across Southeast Asia. The United Nations Office on Drugs and Crime (UNODC) recently highlighted an upsurge in illegal activities involving unlicensed virtual asset providers and money service businesses.

The report also highlights that criminal groups are exploiting crypto platforms to funnel vast sums of money undetected, and these serious issues need to be addressed.

There also has been a recent rise in scam schemes such as “pig butchering,” romance scams, and phishing attacks with the aid of advanced AI and deepfake tech. Notably, Hong Kong authorities dismantled a $46 million crypto romance scam targeting men across Asia, underscoring the need for vigilance among users.

Phishing scams also remain a significant issue, with over 10,000 people losing $46.7 million in September alone, as reported by Scam Sniffer, a Web3 anti-scam platform. The platform warns that people in Southeast Asia are increasingly being targeted by sophisticated scams and attacks, especially as crypto adoption grows.

Despite all these worries, Asia has something to celebrate about after its global crypto developer share surpassed the US for the first time, climbing from 14% to 32%.

As interest and innovation grow, individuals and conference attendees are urged to stay aware of potential scams, particularly in Southeast Asia, where fraudulent schemes continue to evolve.