Severed Finger Identifies Ex-Boxer as Attacker in Failed Kidnapping Plot Targeting Crypto Billionaire Tim Heath in Estonia

Crypto Billionaire Bites Off Attacker’s Finger in Failed Kidnapping Plot

What was meant to be a calculated abduction of a crypto mogul turned into a chaotic escape after one of the attackers left a severed finger behind—literally.

Tim Heath, an Australian-born crypto billionaire and founder of the Estonian-based Yolo Group and its VC arm Yolo Investments, was the target of an attempted kidnapping in Tallinn in July 2024.

The ambush, reportedly led by a group of seven individuals, was planned for months.

It ended abruptly when Heath fought back during the attack, biting off part of an assailant’s finger and fleeing to safety.

How the Kidnapping Was Planned and Executed

The attackers, who had been tracking Heath using GPS devices and stalking him in person, entered Estonia using forged Georgian passports.

They purchased painters’ uniforms and gear from local hardware stores to blend in and gain access to Heath’s apartment building.

On the day of the attack, two men disguised as workers waited in the stairwell of his residence.

When Heath arrived, the attackers attempted to force a bag over his head and silence him.

One of them, Allahverdi Allahverdiyev—a former boxer and wrestler from Azerbaijan—tried to cover Heath’s mouth.

Allahverdi Allahverdiyev, an Azerbaijani ex-boxer and wrestler, was among the attackers.

Heath retaliated by biting through Allahverdiyev’s index finger during a short but violent 30-second struggle.

He lost a tooth in the process but managed to escape into his apartment.

A portion of the attacker’s severed finger was found 100 metres away from the scene.

The plan was to abduct Heath and transport him to a nearby sauna house, where he would be coerced into transferring cryptocurrency.

A hacker was reportedly recruited to facilitate the transfers.

Estonian police later uncovered GPS trackers, burner phones, and other surveillance tools believed to be used by the suspects.

Who Is Behind the Plot?

Authorities have arrested two suspects: Allahverdiyev and Ilgar Mamedov, a Georgian national alleged to be the getaway driver.

Both men are currently standing trial in Estonia.

Allahverdiyev told the court he was promised €100,000 (approximately $107,000) but claimed, “I only pretended to do something,” insisting he tried to cancel the plan.

Mamedov has denied involvement, saying he ended up in Estonia “by accident” while travelling and labelled the accusations a “lie” and a “fabrication.”

Three suspects remain unidentified, and two others—including alleged ringleader Najaf Najafli—are still being sought by police.

Threats Continued Even After the Failed Attempt

Weeks after the attempted abduction, Heath reportedly received a chilling message via Telegram containing images of his apartment and a demand for 30 Bitcoin—then worth roughly $3.3 million.

Prosecutors argue the threat may still be active, although no further contact has been reported since Heath ignored the message.

The incident has had long-lasting repercussions.

Heath has since relocated and spent over $3.1 million on private security.

His legal team is now seeking €3.2 million (about $3.45 million) in damages from the suspects.

Why Was Tim Heath Targeted?

With a net worth estimated at AU$2.46 billion ($1.61 billion), Heath is one of the most prominent figures in Estonia’s digital finance scene.

Tim Heath ranks 66th on the Financial Review Rich List, which details Australia's 200 wealthiest individuals based on their net worth. (Source: Financial Review)

His companies are deeply involved in crypto, fintech, and iGaming—sectors that have seen rapid growth and increased scrutiny.

His high-profile status and substantial crypto holdings made him an attractive target for criminal networks seeking fast and untraceable wealth.

Are Crypto Executives Becoming Easy Targets?

This case is part of a growing global trend known as “wrench attacks”—where perpetrators bypass cyber defences and instead use physical violence to extract crypto.

The anonymity of blockchain has long protected investors from prying eyes, but compliance rules like the FATF Travel Rule—linking wallet addresses to real identities—are now making them easier to locate.

There have been similar incidents reported in the US, France, and the UK, where wealthy crypto holders are tracked, ambushed, and threatened into transferring assets on the spot.

As digital wealth becomes more visible, the risks are starting to look more like those traditionally associated with high-cash industries.

Security Is No Longer Optional in Crypto’s Real World

As this dramatic case shows, the days of treating digital wealth as intangible are over.

Crypto millionaires are being pulled into the physical realm—often violently.

It's no longer about firewalls and seed phrases.

When someone knows where you live and what you hold, no wallet is secure without a plan for personal protection.