In a thrilling turn of events, Australian crypto magnate Tim Heath escaped a kidnapping attempt in Estonia in 2025 by biting off a part of his assailant’s index finger, as per court records. The incident highlights the increasing number of crypto-related abductions, necessitating heightened security measures for industry executives.
Heath, a seasoned crypto investor, was targeted by two men pretending to be painters in his apartment building’s stairwell in July of the previous year. The Sydney Morning Herald, citing Estonian media, reported that one of the attackers, ex-boxer and wrestler Allahverdi Allahverdiyev from Azerbaijan, tried to muffle Heath by covering his mouth with his hand.
The criminals intended to coerce Heath into a van, but Heath bit the assailant’s index finger, broke free, and found refuge in his apartment. The quick but intense struggle cost Heath a tooth, while the kidnappers quickly fled the scene, leaving their van and a piece of the severed finger 100 meters away from the crime scene.
Heath, originally from Victoria, Australia, is the founder of Estonia’s Yolo Group and its venture capital subsidiary, Yolo Investments, which heavily invests in fintech, crypto, and igaming. His estimated net worth is 2.46 billion Australian dollars ($1.61 billion), according to the Australian Financial Review Rich List.
The seven-member kidnapper group had been shadowing Heath and also used a GPS tracker on his vehicle. They reportedly entered Estonia using counterfeit Georgian passports and impersonated workmen using items purchased from hardware stores. Their alleged plan was to force Heath to transfer his crypto wealth while holding him captive in a rented sauna house nearby. They had even supposedly recruited a hacker for the job.
Other than Allahverdiyev, Georgian national Ilgar Mamedov has also been arrested and is being tried in Estonia. Two others are on the run, including the alleged mastermind, Najaf Najafli, while three remain unidentified.
Post the failed abduction attempt, Heath allegedly received a ransom demand for 30 Bitcoin (BTC) worth around $3.3 million at that time via Telegram. Although there were no further contact attempts when Heath didn’t respond, prosecutors believe the threat could still be imminent. Heath has since spent over $3.1 million on private security and relocated. His lawyers are seeking reimbursement for these security expenses from the accused kidnappers.
