An armed gunman disguised as a deliveryman broke into a San Francisco home owned by Lachy Groom, a venture capitalist and former partner of OpenAI CEO Sam Altman, on Saturday, and stole about $11 million in cryptocurrency, including Bitcoin and Ethereum, from a resident identified as Joshua, who lives with Groom.
The suspect, posing as a UPS affiliate worker, tricked the victim into opening the door by claiming to deliver a package and needing to borrow a pen, then used a gun to tie him up, beat him, and force him to transfer funds from his crypto wallets over a 90-minute period while foreign voices on a speakerphone recited personal information to pressure him.
The incident occurred at a $4.4 million home in the Mission District, which Groom purchased in 2021 from Altman’s brother for $1.8 million. Joshua, a tech investor and Groom's business partner was reportedly the direct target of the attack, not Groom himself.
The suspect gained entry after the victim confirmed he was Joshua, then pulled a gun, bound him with duct tape, and stole his phone and laptop before draining his crypto wallets.
Police arrived at 6:45 PM and found the victim with minor injuries, including bruising, and the investigation is ongoing.
Security experts and industry figures, including investor Garry Tan, have highlighted the growing risk of physical attacks on crypto holders, warning that self-custody, while beneficial, can become dangerous when personal details are exposed and targets are identifiable.
The heist is believed to be a targeted operation by an organized crime group, not a random break-in, with the attacker using psychological torture and extortion tactics during the 90-minute ordeal.