Bitcoin [BTC] and Ethereum [ETH] – SEC regulations to affect crypto-market?

As reported by The Atlanta Journal-Constitution, in Forsyth County this week, five men were charged for allegedly scheming to steal Bitcoin from a local resident. According to recent reports, the five tried to steal Bitcoin which amounted to nearly $1 million. These men were each accused on charges of conspiracy to commit burglary and conspiracy to commit robbery by force, both felonies.

Trivette Lane Adams, Matthew Schwartz, Robert Jacob South, Justin Eric Ellison, and Michael Anthony McDermott are the names. This case supposedly began when the Forsyth County Sheriff’s Office got a report about people coming from out of state to possibly commit a Bitcoin felony, Atlanta Constitution deputies said.

Adams, age 20 from Texas and McDermott, age 18 from California were arrested near Hartsfield-Jackson International Airport trying to flee the state, as per the deputies. Jacob South, age 21 from Norcross and Schwartz, age 18 from California were soon captured in Chicago, as per what the deputies said. Adams, Schwartz, South, and McDermott were arrested by deputies in a Forsyth County hotel, allegedly in possession of zip ties, duct tape, bandanas and latex gloves, in late January. They were released as the felony could not be proved.

However, the sheriff’s office continued to investigate the men and later deputies connected them to the planned robbery report they had received. Deputies also were successful in identifying Ellison of Illinois and he was also arrested.

This is not the first time that small-scale robbers have tried to steal cryptocurrency, there have been reports of similar events from around the world. Some of the noted ones are:

  • In the UK, a cryptocurrency trader was robbed by four masked men at gunpoint and ordered him to transfer all of his Bitcoins to them.
  • In Manhattan, the district attorney had charged a man with robbery and kidnapping after he swiped a digital wallet containing a fortune in Ethereum cryptocurrency. The victim in this was held at gunpoint.