A convicted Russian crypto scammer, Roman Novak, and his wife were found dead in the UAE after a meeting with fake investors turned deadly. The attack involved demands for wallet access, highlighting rising ‘wrench attacks’ in the crypto space amid 2025’s surge in physical crypto crimes.
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Roman Novak’s Background: Convicted in 2020 for defrauding millions in cryptocurrencies via investment scams.
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Post-2023 Release: Promoted Fintopia platform, allegedly scamming up to $500 million from global investors.
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Rising Threats: BlockchainUnmasked reports 48 wrench attacks in 2025 so far, up from 32 in 2024, driven by crypto price surges.
Discover the shocking death of convicted crypto scammer Roman Novak in UAE after wrench attack. Learn about rising physical crypto threats and safety tips for investors. Stay informed on crypto security now.
What Happened to Convicted Crypto Scammer Roman Novak in the UAE?
Roman Novak, a convicted Russian cryptocurrency fraudster, and his wife Anna were found dead in the United Arab Emirates following a violent encounter with individuals posing as investors. The incident occurred in October 2025 in Dubai, where the couple was lured to a villa on the city’s outskirts. According to reports from Russian media outlet Fontanka, the attackers demanded access to Novak’s cryptocurrency wallets, only to discover them empty before murdering the pair and disposing of their bodies in the desert near Fujairah.
Who Was Roman Novak and What Were His Crypto Scams?
Roman Novak, originally from Leningrad, was sentenced to six years in prison in Moscow in 2020 for an investment scam that defrauded victims of millions in cryptocurrencies. Upon his release in 2023, he re-entered the crypto space by promoting a payment platform called Fintopia. This venture reportedly led to further fraud, targeting investors from China, the Middle East, and other regions, with losses estimated at up to $500 million. UAE-based police investigations identified eight Russian nationals as suspects, including a former homicide officer convicted on drug charges and two veterans of the Russia-Ukraine conflict. Five individuals acted as accomplices in preparations but face no murder charges.
Novak’s history of fraud made him a target, as noted in reports from Fontanka. The group’s movements were tracked after they attempted to flee to Russia and Georgia, swapping vehicles to evade detection. This case underscores the dangers faced by those involved in crypto fraud, where digital trails can facilitate targeting by aggrieved parties.
Frequently Asked Questions
What Are Wrench Attacks in the Crypto World?
Wrench attacks involve physical violence or threats to coerce cryptocurrency holders into revealing wallet access. In 2025, these incidents have risen sharply, with 48 cases recorded globally so far, according to Jameson Lopp’s tracker cited by BlockchainUnmasked. France reported 10 cases in the first half of the year, while the U.S. saw a 169% increase, often linked to torture or murder for wallet drainage.
How Can Crypto Investors Protect Themselves from Physical Attacks?
To safeguard against wrench attacks, use multi-factor authentication beyond basic two-factor setups and avoid flaunting crypto holdings on social media. David Richards, CEO of BlockchainUnmasked, advises retail investors to stick to regulated exchanges and maintain a low profile, as these attacks often target high-profile or fraudulent individuals rather than average users.
Key Takeaways
- Escalating Crypto Violence: Wrench attacks surged to 48 in 2025, fueled by rising asset prices and sophisticated criminal tactics using social media.
- Targeted Nature of Attacks: Cases like Novak’s often stem from revenge against scammers, with underreporting common in crypto crimes due to victim stigma.
- Prevention Strategies: Enhance security with privacy tools, global law enforcement cooperation, and discreet investment practices to mitigate risks through 2026.
Conclusion
The tragic deaths of Roman Novak and his wife in the UAE spotlight the perilous intersection of cryptocurrency scams and physical violence, including wrench attacks that have proliferated in 2025. As experts like David Richards from BlockchainUnmasked warn of worsening trends without improved privacy measures and international coordination, investors must prioritize secure practices. Stay vigilant, use robust authentication, and avoid high-risk behaviors to navigate the evolving crypto landscape safely.
The broader context of rising wrench attacks reveals a violent crime wave targeting digital assets, with BlockchainUnmasked noting influences from cryptocurrency price rallies and advanced criminal tech exploitation. Richards emphasizes that while alarming, the threat is lower for everyday investors using regulated platforms. Novak’s case, rooted in his $500 million fraud via Fintopia, serves as a stark reminder of the consequences of crypto misconduct.
Investigations continue, with UAE authorities pursuing the eight Russian suspects. This incident, detailed in Fontanka reports, highlights the need for enhanced global efforts against crypto-related crimes. For those in the space, adopting “boring” security—minimal online exposure and strong multi-factor protections—remains key to avoidance.
Looking ahead, as Richards predicts potential escalation into 2026, the crypto community must advocate for better tools and law enforcement synergy. This event not only closes a chapter on Novak’s fraudulent activities but also urges a collective push toward safer digital finance ecosystems.
