San Francisco police are investigating a violent home invasion where a tech investor, Lachy Groom, was robbed of an estimated $11 million in cryptocurrency, an incident that underscores a growing global trend of physical attacks targeting wealthy digital asset holders.
The assailant, disguised as a delivery person, gained entry to Groom’s residence in the Mission district. Once inside, the intruder pulled a weapon, restrained Groom with tape, and subjected him to beatings and torture for over 90 minutes.
During the ordeal, the attacker held Groom’s phone on speaker, with “foreign voices” reportedly reciting the victim’s personal information. The perpetrator emptied Groom’s Ethereum and Bitcoin wallets before stealing his phone and laptop.
Police arrived at the scene around 6:45 p.m. local time on Saturday, finding Groom with minor injuries, including bruises. No suspects have been identified, and no arrests have been made.
Investigators believe the crime was a targeted attack orchestrated by an organized crime group. This incident mirrors a disturbing global pattern of physical assaults and robberies against cryptocurrency millionaires.
More than 30 such cases, including kidnappings and home invasions, have been reported worldwide this year. At least 10 of these attacks occurred in France alone.
In March, OnlyFans model Kaitlyn Siragusa, known as Amouranth, was assaulted in her Houston, Texas, home. Three armed individuals specifically demanded her cryptocurrency holdings after she publicly disclosed possessing over $20 million in digital assets.
January saw the kidnapping and torture of Ledger co-founder David Balland in France. By June, French authorities had made more than 20 arrests in connection with these types of attacks.
Experts attribute the rise in these incidents partly to the public visibility and ostentation of crypto wealth. Steve Krystek, CEO of PFC Safeguards, noted that “Many of the people who come into this money are flashy and signal that they have wealth.”
Garry Tan, president of Y Combinator, also highlighted the risks, stating, “Self-custody of crypto seems like a good idea until it isn’t.”
Lachy Groom, 31, is a prominent tech investor who reportedly previously had a romantic relationship with OpenAI CEO Sam Altman before Altman’s marriage in 2024. The two have also invested together in various tech ventures.
Altman, in 2019, publicly identified Groom as one of four individuals he consulted for career advice. Groom, in November 2023, praised Altman as “the most supportive, generous and inspiring person I know.”
Groom’s four-bedroom home on Dorland Street, where the robbery occurred, was purchased in 2021 for $1.8 million from Altman’s brother.
Authorities worldwide are intensifying efforts to dismantle the criminal networks behind these attacks. However, experts caution that the trend is likely to continue as the high value of cryptocurrencies continues to attract both legitimate opportunities and significant dangers.