• An entrepreneur told police he was tortured by masked thieves targeting his millions of bitcoins, Spanish media reported.
• Zaryn Dentzel, co-founder of the Spanish site Tuenti, was attacked at his home in Madrid.
• He was tied up, tied up and gagged before the attackers fled with his passwords.

An entrepreneur has told police he was tortured for hours by masked thieves who entered his home in an apparent attempt to steal millions of euros in bitcoins, Spanish media reported.

American Zaryn Dentzel is the co-founder of Tuenti, a social network formerly referred to as “Spanish Facebook”.

According to reports from El Spanish, Europapress, and El Pais This week, all citing law enforcement sources, Dentzel told police that a gang of four to five men stormed his apartment in Madrid, Spain, around 3 p.m. local time on Tuesday, October 9.

According to his account, the men covered the security cameras in Dentzel’s apartment before they tied him up, tied him up and gagged him and sprayed something in his eyes. The 38-year-old was then forced to reveal passwords to his bank accounts and e-wallets which stored cryptocurrencies worth “tens of millions of dollars,” according to El Espanol.

Dentzel said the gangsters beat him and slash him in the chest with a knife while shooting him with a tasers on several occasions.

The assault reportedly lasted four hours.

Dentzel’s password aside, his attackers reportedly escaped with devices such as laptops, phones and a USB drive.

According to El Espanol, police were alerted to the attack by a neighbor who heard screams for help coming from Dentzel’s apartment. Witnesses nearby reportedly said they saw a group of masked men escaping into the street holding bags.

According to El Pais, the Policia Nacional de Madrid is investigating and trying to corroborate Dentzel’s account. No arrests have yet been made. El Espanol, citing law enforcement sources, said the gang’s attempts to steal one of Dentzel’s cryptocurrencies had failed.

The cryptocurrency-related theft has consistently grabbed the headlines. Jason Ma from the insider reported that the FBI is warning that criminals are increasingly using cryptocurrency ATMs and QR codes to trick people into handing over their money.

Last month, a Coinbase user lost $ 11.6 million in less than 10 minutes after being scammed by fake notification, Insider’s Kevin Shalvey reported.