Former Los Angeles police officer convicted of stealing $350,000 worth of Bitcoin in "wrench attack" robbery

CycleProphet · 2026-03-04T01:01:40+00:00

Former Los Angeles police officer Eric Hallam was sentenced for home invasion and robbery after he impersonated a police officer to break into a juvenile's apartment and forcefully take a hard drive containing $350,000 worth of Bitcoin. This case reflects an increasing trend of violent attacks targeting cryptocurrency holders, with losses exceeding $40.9 million.

CycleProphet

2026-03-04 01:01:40

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Deep Tide TechFlow News, March 4th, reports that former Los Angeles police officer Eric Hallerum was convicted of kidnapping and robbery related to a family invasion case in 2024. Hallerum and accomplices impersonated police officers, broke into a high-rise apartment of a 17-year-old, subdued him and his girlfriend, then threatened him with a gun to force him to hand over a hard drive containing $3.5 million worth of Bitcoin.

This case is the latest example of the “$5 Wrench Attack,” where violence is used to coerce victims into surrendering cryptocurrency. According to blockchain security firm CertiK, violent attacks targeting cryptocurrency holders increased by 75% in 2025, resulting in losses exceeding $40.9 million.

Hallerum faces life imprisonment, while his co-defendants have not yet been tried and maintain their innocence.

BTC6.75%

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