In a chilling crypto robbery case that’s got everyone talking, a former Los Angeles Police Department officer has just been convicted for masterminding a terrifying kidnapping and theft that netted $350,000 in cryptocurrency.
A Los Angeles County Superior Court jury delivered the guilty verdict on Monday after a grueling two-week trial, slamming Eric Halem with charges of kidnapping and robbery.
This crypto robbery unfolded back in 2024, when Halem and three accomplices dressed up as cops, complete with vests and even LAPD-issued handcuffs, to storm a Koreatown apartment.
The victim, a 17-year-old who went by Daniel on the stand, had built up serious crypto holdings. The crew claimed they had a search warrant, used an access code from a conspirator who knew the place, and quickly turned violent. They cuffed the teen’s girlfriend, subdued Daniel himself, and threatened to end him unless he handed over the hard drive loaded with his Bitcoin.
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Under that pressure, the kid gave it up roughly $350,000 worth of BTC at the time. Stories like this crypto robbery highlight a growing danger in the space, the so-called “wrench attacks,” where crooks use real threats or outright violence to force victims into surrendering their assets.
Crypto security firm CertiK dropped a report last month showing 72 of these wrench attacks worldwide in 2025 alone, a massive 75% spike from 2024. Losses topped $40 million confirmed, but the real number is likely way higher since many go unreported.
Crypto Robbery Details: How the Impersonators Pulled It Off
Halem, who put in 13 years with the LAPD before stepping away in 2022 (though he was still on reserve status), didn’t just rely on old connections; and he ran side hustles like a luxury car rental gig and an app for remote actor auditions. But none of that shielded him here.
The group allegedly broke in, restrained both victims, and made it crystal clear: no hard drive, no mercy. Victim testimony painted a vivid picture of the fear in that apartment during this crypto robbery.
Halem’s lawyer, Megan Maitia, pushed back hard in closing arguments, saying detectives never properly backed up the teen’s story. She pointed out he admitted getting some of his crypto through shady means and argued cops basically took his word for the whole crypto robbery.
Halem himself stayed silent on the stand. Sentencing is set for March 31, and he’s staring down the possibility of life behind bars.
This crypto robbery is a reminder that even as digital assets grow, the old-school threats of violence are catching up fast, pushing more investors toward centralized custody options to avoid becoming the next target.
