74-Year-Old Man from California Unaccounted For; Family Cryptocurrency Wealth Raises Kidnapping Concerns

Authorities in San Bernardino County are looking into the case of 74-year-old Naiping Hou, who vanished in early May under circumstances that raise suspicions, potentially related to his family’s cryptocurrency assets.

Key Takeaways:

• California law enforcement is examining the suspicious disappearance of 74-year-old Naiping Hou.
• The situation may be connected to his family’s cryptocurrency wealth.
• Investigators discovered fraudulent activities in Hou’s bank accounts and suspect that someone may have impersonated him.

Hou departed from his residence without his mobile phone on a Monday and did not come back. A few days later, his silver Toyota Yaris was found abandoned close to a hiking trail in Rancho Cucamonga.

On May 4, he was officially reported as missing.

Police Investigate Fraud in Case of Missing Crypto Investor

By July 7, the San Bernardino County Sheriff’s Department announced that its Specialized Investigations Division was treating the case as suspicious, citing signs of “extensive fraudulent activity” related to Hou’s bank accounts.

Investigators disclosed that an unidentified person used Hou’s phone and pretended to be him while communicating with his family, raising fears that Hou might have been abducted.

No suspects have been identified, but authorities have not dismissed the possibility of foul play.

Hou’s son, Wen Hou, has offered a $250,000 reward for information that could assist in locating his father safely.

Wen, who has served as Chief Investment Officer of hedge fund Coincident Capital since 2019, amassed his wealth in cryptocurrency and suspects that financial motives may be behind his father’s disappearance.

“He had no reason to disappear,” Wen stated in an interview with KABC. “I miss him a lot. He’s sort of a guide to my life.”

Experts indicate that this case aligns with a rising trend of physical assaults targeting individuals associated with digital wealth.

Local and federal agencies are now employing blockchain forensics to trace the financial aspects in these incidents.

Crypto-Related Violence Reaches Record Highs in 2025

Violent physical assaults aimed at cryptocurrency holders, referred to as “wrench attacks,” are significantly increasing in 2025, with 35 incidents reported by July, according to Chainalysis.

The Asia-Pacific region has experienced some of the most severe violence, with nations such as Japan, Indonesia, and the Philippines noting a rise in kidnappings and extortion linked to cryptocurrency ownership.

Fueled by Bitcoin’s recent rise above $122,000, criminals are increasingly transitioning from online hacks to real-world violence.

Making my @CNN debut this morning: $5 wrench attacks, crypto user privacy, problems of KYC, Bitcoin users vs. bank secrecy laws, and the Trump Admin’s policies on bitcoin and its crypto-offspring@btcpolicyorg @ConsumerChoiceC pic.twitter.com/Q2KvZEVjoE

— Yaël (@YaelOss) May 29, 2025

So far this year, over $2.17 billion in cryptocurrency has been stolen worldwide, exceeding the total for 2024. Attacks on personal wallets now represent nearly 25% of the stolen funds.

Chainalysis found that retail wallet holders are currently the primary targets. Users in the U.S., Germany, and Japan report the highest number of incidents, while India, Chile, and the UAE experience the greatest average losses.

Enhanced security measures at exchanges have driven attackers toward less secure individuals with high-value wallets.

This trend is also being propelled by sophisticated tactics. Chainalysis and CertiK report an increasing use of AI tools to identify and exploit victims, often through phishing and impersonation schemes.

CertiK estimates that crypto users lost $2.2 billion in the first half of 2025 alone, with wallet breaches accounting for $1.7 billion.

“The rise of wrench attacks is a stark reminder that digital assets are only as safe as the people who hold them,” Chainalysis stated.

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