Australian cryptocurrency mogul Tim Heath had a close call last year in Estonia when he managed to fend off an attempted kidnapping. Reports from an Estonian court revealed that during the attack, he bit a portion of one attacker’s finger to escape.
Heath, an experienced figure in the crypto world, was confronted last July by two men disguised as painters while he was on the stairs of his apartment. As cyber threats continue to rise in 2025, it’s becoming increasingly essential for executives like him to bolster their security measures.
One of the assailants, Allahdie Allahdiev, a national from Azerbaijan with a background in boxing and wrestling, attempted to silence Heath by covering his mouth. According to sources, the attackers had plans to forcibly put Heath into a van, but after his bite, Heath managed to flee back to his apartment to seek safety.
The confrontation escalated quickly, and Heath reportedly lost teeth within about 30 seconds. The attackers made a swift escape, abandoning a nearby van. Interestingly, part of the bitten-off finger was later discovered just 100 meters away from where the incident occurred.
Hailing from Victoria, Australia, Heath is the founder of Yologroup, based in Estonia, along with a venture capital arm known as European Investments. His investments span various sectors like fintech, crypto, and iGaming, and his estimated worth stands at around $2.46 billion Australian dollars.
The Planning Phase
The Sydney Morning Herald noted that a group of seven had been surveilling Heath prior to the attack, employing GPS trackers on his vehicle. These individuals allegedly entered Estonia using forged passports and prepared for the attack by purchasing painter uniforms and other supplies.
The supposed plan included taking Heath to a rented sauna where they would compel him to surrender his crypto holdings, supposedly with assistance from hired hackers.
In connection with this incident, Georgian national Ilgar Mamedov was also arrested, and both men are currently facing trial in Estonia. Authorities are still pursuing two additional suspects, including the primary organizer, Najaf Najafri, whose identities remain undisclosed.
Claims of Innocence
In court, Allahdiev claimed he was merely pretending to participate in the plan and had opted to call off the scheme. He mentioned receiving an offer of 100,000 euros but insisted he had no intention of following through.
Meanwhile, prosecutors allege that Mamedov acted as the getaway driver, a claim he vehemently denies, stating he was in Estonia by chance and that the allegations against him are false.
Continued Threats
Prosecutors further indicated that weeks following the failed kidnapping, Heath received an unsettling photo of his apartment alongside a message demanding 30 Bitcoin, approximating $3.3 million at that time.
Despite Heath’s lack of response, the prosecutors are adamant that the threat may still linger. Since the attack, he has invested over $3.1 million in personal security and has been shifting residences. His legal team is currently seeking reimbursement for these security expenses from the defendants involved in the attempted abduction.
