Hypnotist Steals 56 BTC From Man Seeking Help to Remember Ledger PIN
In a strange and alarming twist on crypto theft, a 39-year-old Austrian man, Alex Donatello, claims he was hypnotized into revealing access to his hardware wallet ultimately losing 56 Bitcoin, worth approximately $3.2 million at the time.
Key Takeaways
- Alex Donatello sought help to remember his PIN he woke up $3.2 million poorer.
- Even a hardware wallet can't protect you when the real vulnerability is your mind.
Share this article
According to Donatello, he had been locked out of his hardware wallet for months and grew increasingly desperate after failing to recall the correct PIN. After reading about memory recall techniques, he booked a session with a certified hypnotist offering cognitive therapy services.
The session, conducted in-person at a private practice in central Vienna, was intended to trigger memory access through guided hypnosis. But Donatello claims that after waking from the session, he felt disoriented and later discovered his wallet had been emptied during that time.
Investigators believe Donatello may have unknowingly revealed critical parts of his recovery phrase or PIN while under hypnosis either verbally or through subtle cues that the hypnotist picked up on. Blockchain analysis confirmed that the full balance was transferred out in a single transaction during the window of the session.
“It felt like I had been asleep,” Donatello said in a statement. “When I checked my wallet later that night, it was gone. Everything.”
The hypnotist has denied any wrongdoing and has not been formally charged, but authorities are treating the incident as a potential case of theft by deception. The investigation is ongoing.
“This is an alarming example of how unconventional methods can backfire,” said Jana Müller, a cybersecurity expert based in Berlin. “No matter how secure the hardware is, the human element is always the soft spot.”
The stolen Bitcoin has not moved since being transferred, and no suspects have been named publicly.
Legal experts note that as cryptocurrency becomes more integrated into daily life, stories like Alex’s are becoming increasingly relevant.
The case has sparked heated discussion online, especially among cryptocurrency users who advocate for self-custody.
While hardware wallets are widely regarded as one of the safest methods for storing digital assets, they place the full burden of access and recovery on the user. This incident highlights the psychological risks that can emerge when individuals seek unorthodox help in moments of distress.
Experts are now urging crypto holders to plan ahead for memory loss or access issues by using secure, verifiable backup methods such as encrypted password managers, metal seed phrase storage, or trusted multi-sig setups.
“It’s understandable to panic when large sums are at stake,” Müller added, “but turning to someone unvetted, no matter how legitimate they appear, can cost you everything.”
Share this article
