Australian crypto billionaire Tim Heath narrowly escaped a kidnapping attempt in Estonia last year through an extraordinary act of self-defense. Heath, a long-time crypto investor, was ambushed by two men disguised as painters in the stairwell of his apartment building in July. In a desperate 30-second struggle, Heath managed to bite off part of one of his assailant’s index fingers, allowing him to break free and seek safety in his apartment. This incident underscores a concerning trend of increasing crypto-related kidnappings in 2025, which has compelled executives in the industry to significantly bolster their personal security measures.
The Ambush and the Fight for Freedom
The assailants, one of whom was identified as Azerbaijani national Allahverdi Allahverdiyev, a former boxer and wrestler, attempted to silence Heath by placing a hand over his mouth. Their plot involved forcing Heath into a waiting van. However, Heath’s desperate resistance, including biting through the attacker’s finger, allowed him to escape. During the brief but violent struggle, Heath reportedly lost a tooth. The attackers fled the scene shortly after, abandoning their van nearby. A gruesome discovery was later made when part of the assailant’s finger was found in the street, approximately 100 meters from the site of the attack.
Tim Heath: A Profile in Crypto and iGaming
Originally from Victoria, Australia, Tim Heath is a prominent figure in the digital asset space. He founded the Estonian-based Yolo Group and its venture capital arm, Yolo Investments, which strategically allocates significant capital into fintech, crypto, and iGaming sectors. The Australian Financial Review Rich List estimates Heath’s substantial net worth at 2.46 billion Australian dollars, equivalent to approximately $1.61 billion USD, solidifying his status as a major player in the global cryptocurrency and tech investment landscape.
A Meticulously Planned Abduction
The kidnapping attempt was not a spur-of-the-moment act but rather the culmination of a plot that had been months in the making. A group of seven alleged kidnappers had reportedly been stalking Heath in the period leading up to the assault, employing both in-person surveillance and a GPS tracker on his vehicle. The group allegedly entered Estonia using forged Georgian passports and spent the days preceding the attack acquiring painters’ uniforms and other supplies from hardware stores, meticulously preparing their disguise as workmen to execute their plan.
The Ransom Plot and Recruitment of a Hacker
The alleged plan devised by the assailants was to transport Heath to a rented sauna house located nearby. Once there, they intended to coerce him into transferring his substantial crypto holdings to them. To facilitate this digital extortion, a hacker was also reportedly recruited as part of the criminal enterprise, indicating the sophisticated nature of the plot and the specific target of Heath’s digital assets. This detail highlights the evolving methods of criminals targeting wealthy crypto holders.
Arrests and Ongoing Legal Proceedings
Following the failed abduction, authorities have made arrests in connection with the case. In addition to Allahverdi Allahverdiyev, Georgian citizen Ilgar Mamedov has also been apprehended. Both men are currently on trial in Estonia for their alleged roles in the kidnapping attempt. Police are actively seeking two other individuals, including the alleged mastermind of the plot, Najaf Najafli, while three additional suspects involved in the scheme have yet to be identified. The legal proceedings continue to unfold in Estonia.
Lingering Threats and Enhanced Security Measures
Prosecutors allege that a few weeks after the failed kidnapping, Heath received a threatening message via Telegram, which included photos of his apartment and a demand for 30 Bitcoin, valued at approximately $3.3 million at the time. Although the kidnappers made no further contact after Heath did not respond, prosecutors contend that the threat may still be ongoing. In response to the attack, Heath has reportedly invested over $3.1 million in private security measures and has relocated his residence. His legal team is actively seeking reimbursement for these substantial security costs from the accused kidnappers.
