Crypto Billionaire Fends Off Kidnappers in Estonia, Bites Off Attacker’s Finger in Dramatic Escape
July 3, 2025 — Australian crypto billionaire Tim Heath narrowly escaped a harrowing kidnapping attempt in Estonia last year by biting off part of one assailant’s finger, an Estonian court has revealed.
According to court testimony and reports in the Sydney Morning Herald citing Estonian media outlet Eesti Ekspress, Heath was confronted by two men disguised as painters in the stairwell of his apartment building in July 2024. The attackers, hoping to abduct him, did not anticipate Heath’s fierce resistance during the brief but intense 30-second struggle.
One assailant, identified as Azerbaijani national Allahverdi Allahverdiyev — a former boxer and wrestler — attempted to silence Heath by covering his mouth. But Heath fought back, biting through Allahverdiyev’s index finger and managing to break free. Despite losing a tooth in the confrontation, Heath fled to the safety of his apartment. The attackers abandoned their van nearby and fled the scene. Fragments of the severed finger were later found approximately 100 meters from the site.
Background on Tim Heath and the Kidnapping Plot
Tim Heath, originally from Victoria, Australia, is a prominent figure in crypto investment circles. He is the founder of the Estonia-based Yolo Group and its venture capital arm, Yolo Investments, known for heavy investments in fintech, cryptocurrency, and iGaming sectors. The Australian Financial Review Rich List ranks him at number 66 with a net worth estimated at 2.46 billion Australian dollars (around $1.61 billion USD).
Investigations reveal that the kidnapping attempt was meticulously planned over several months. The group of seven suspects reportedly stalked Heath both physically and electronically, using a GPS tracker on his vehicle. They entered Estonia with forged Georgian passports and prepared for the ambush by purchasing painters’ uniforms and supplies to pose as workers.
Prosecutors allege the kidnappers intended to forcibly take Heath to a nearby rented sauna house and coerce him into transferring his substantial cryptocurrency holdings. A hacker was allegedly recruited to assist with the scheme.
Legal Proceedings and Suspect Statements
Two men have been arrested and are currently on trial in Estonia: Allahverdi Allahverdiyev and Georgian citizen Ilgar Mamedov. Authorities say Mamedov was the getaway driver, but he denies involvement, claiming he was in Estonia by chance and rejects the accusations as fabrications. Allahverdiyev admits he was promised a €100,000 ($118,000) payment for the kidnapping but claims he only feigned participation and advised others to abort the plan.
Three suspects remain unidentified, and two are still wanted by police, including alleged organizer Najaf Najafli.
Continuing Threat and Increased Security Measures
Prosecutors further revealed that just weeks after the failed kidnapping, Heath received threatening messages through Telegram containing photos of his apartment and demands for 30 Bitcoin—valued at approximately $3.3 million at the time.
Heath reportedly did not respond to these demands, and while no further contact was made, authorities caution that the threat may persist.
In response to the incident, Heath has reportedly spent over $3.1 million on enhanced private security and has relocated his residence. His legal team is seeking to have these security costs reimbursed by the accused kidnappers.
Rising Crypto-Related Kidnappings in 2025
This incident underscores a troubling trend of increasing kidnappings targeting crypto executives and investors in 2025. Law enforcement agencies and high-net-worth individuals in the crypto space are urged to adopt stringent security protocols as criminals appear to be exploiting the anonymity and high values associated with cryptocurrency assets.
Sources:
Sydney Morning Herald
Eesti Ekspress
Australian Financial Review
Cointelegraph
About Tim Heath:
Tim Heath is a veteran crypto investor and entrepreneur. With a focus on fintech and blockchain innovation, his Yolo Group has become a significant player in the crypto venture capital market, contributing to Estonia’s reputation as an emerging hub for technology startups.
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