Billionaire Tim Heath Bites Off Kidnapper’s Finger

Key Takeaways

• Crypto billionaire Tim Heath was the target of a violent kidnapping attempt in Estonia in 2024.
• Heath bit off part of one attacker’s finger and escaped, though he lost a tooth in the process.
• The kidnapping was part of an elaborate crypto scam involving surveillance, fake IDs, and a rented torture site.
• Two suspects are on trial; more are still at large.
• Weeks later, Heath received a Bitcoin ransom demand via Telegram, suggesting the threat could persist.
• Heath has spent millions on private security since the attack and is now seeking compensation in court.

Who Is Tim Heath?

Originally from Victoria, Australia, Tim Heath is the founder of Yolo Group, an Estonia-based company with substantial investments in fintech, crypto, and iGaming through its venture arm, Yolo Investments.

Heath is ranked number 66 on the Australian Financial Review Rich List, with an estimated net worth of $1.61 billion (AUD 2.46 billion).

Tim Heath Is Ranked #66 On The Australian Financial Review Rich List

Source: Australian Financial Review

One of the attackers, identified as Allahverdi Allahverdiyev, a former professional boxer from Azerbaijan, attempted to muffle Heath by placing a hand over his mouth. However, the move backfired dramatically—Heath retaliated by biting through the attacker’s index finger.

A Brutal Struggle In Tallinn

The incident occurred in July 2024, inside the stairwell of Heath’s apartment building in Tallinn, Estonia. Posing as painters, two men ambushed the crypto entrepreneur in what authorities now describe as a highly premeditated crypto scam and abduction attempt.

One of the attackers, identified as Allahverdi Allahverdiyev, a former professional boxer from Azerbaijan, attempted to muffle Heath by placing a hand over his mouth. However, the move backfired dramatically, Heath retaliated by biting through the attacker’s index finger.

Despite losing a tooth in the struggle, Heath managed to escape back into his apartment, slamming the door shut before the assailants could drag him into a nearby van. Estonian police later discovered part of the severed finger 100 meters away from the scene.

The Pre-Meditation

According to court documents and reports from Estonian media outlet Eesti Ekspress, the kidnapping was far from spontaneous. The assailants allegedly:

• Stalked Heath for weeks both physically and digitally

• Installed a GPS tracker on his vehicle

• Entered Estonia using forged Georgian passports

• Purchased painter uniforms to disguise themselves

The elaborate plan involved abducting Heath and transporting him to a rented sauna house, where he would be coerced into transferring his crypto holdings. Reports also suggest that a hacker had been recruited to assist in extracting digital assets.

The Escape & Aftermath

Following the foiled abduction, the assailants fled the scene and abandoned their vehicle. However, the investigation quickly gained momentum. Allahverdiyev and Georgian citizen Ilgar Mamedov were arrested and are currently standing trial.

Authorities are also still hunting for Najaf Najafli, believed to be the mastermind, along with three other unidentified individuals.

Denials & Courtroom Drama

Despite the damning evidence, both Allahverdiyev and Mamedov deny involvement. Allahverdiyev told the court he was offered €100,000 ($118,000) for the job but claimed he never intended to follow through. Mamedov, allegedly the getaway driver, argued he came to Estonia by accident and called the charges “a fabrication.”

Crypto Extortion Continues

Shockingly, weeks after the attack, Heath received a Telegram message featuring photos of his home and a demand for 30 Bitcoin, equivalent to about $3.3 million at the time. Although there were no follow-up attempts, Estonian prosecutors believe the threat remains active.

Tim Heath Speaking At The EGR Power 50 Summit

Source: Yolo Group

In response, Heath has invested over $3.1 million in private security and has since moved to a new residence. His legal team is now pursuing reimbursement for these expenses from the accused kidnappers.

FAQ

What is a crypto scam?

A crypto scam involves fraudulent schemes that target individuals to steal their cryptocurrencies, often using fake investments, phishing attacks, or, in extreme cases, physical threats and abduction.

Who is Tim Heath?

Tim Heath is an Australian entrepreneur and founder of the Yolo Group. He is a major figure in the global crypto and iGaming industries, with an estimated fortune of $1.61 billion.

How did Heath escape the kidnapping?

Heath managed to escape by biting off part of an attacker’s finger, breaking free, and locking himself inside his apartment.

Are the attackers in custody?

Two suspects have been arrested and are on trial in Estonia. Police are still searching for the alleged mastermind and other accomplices.

Was any crypto actually stolen?

No. Heath successfully avoided the kidnapping and did not lose any crypto assets during the attempt.