Disappearance of Naiping Hou

Naiping Hou, 74, left home on a Monday without his phone and never returned. Local law enforcement suspects his disappearance is linked to his family’s crypto holdings.

Days later, his silver Toyota Yaris was found abandoned near a hiking trail in Rancho Cucamonga. He was declared missing on May 4, and sheriff’s deputies now suspect Hou may have been kidnapped.

By July 7, the San Bernardino County Sheriff’s Department confirmed that its Specialized Investigations Division is investigating Hou’s disappearance as “suspicious,” discovering evidence of “extensive fraudulent activity” related to his bank accounts.

An unnamed suspect allegedly used Hou’s phone and “impersonated him to communicate with family members,” according to the Sheriff’s Department. No suspects have been named, but foul play hasn’t been ruled out.

Hou’s son, Wen Hou, has offered a $250,000 reward for information leading to his father’s safe return, believing someone stole his father’s identity and drained his accounts of over $1 million. Wen, a crypto millionaire and CIO of Coincident Capital since 2019, stated that his father had no reason to disappear.

“I miss him a lot,” he told local media. “He’s sort of a guide to my life,” he expressed in an interview with KABC.

Crypto experts warn that wealthy crypto users often become targets by showcasing wealth online, neglecting privacy, or trusting insiders. Poor security habits, combined with the misconception that crypto is fully anonymous, exacerbate vulnerability.

Snir Levi, founder of Nominis, noted that many victims unintentionally expose themselves via social media, leaked data, or wallet activity, making them easy targets for threats. He emphasized the need for crypto exchanges to treat user data with utmost caution.

Hou’s case highlights a troubling trend in the crypto realm. Dubbed “wrench attacks,” these incidents often escalate from low-level thefts into violence when attackers forcibly extract information from victims.

There’s been a notable increase in cases of kidnapping and intimidation to obtain seed phrases or steal funds. Nick Harris, founder of CryptoCare, shared that incidents of this nature are on the rise, reporting 22 cases globally halfway through the year.

Authorities are deploying cybercrime units and blockchain forensic teams to trace transactions in ongoing investigations.