Lachy Groom suffers massive crypto asset loss after robbery in San Francisco

Australian tech investor and entrepreneur Lachy Groom has fallen victim to an armed robbery in which criminals gained access to his digital assets. The incident occurred in San Francisco and resulted in a loss of $11 million, as the attackers pressured a roommate and forced them to transfer cryptocurrency holdings.

Groom’s impressive career includes a formative period at payment service provider Stripe, where he was among the earliest employees and contributed significantly to the company’s development. Additionally, Groom has established himself as a savvy investor, with strategic stakes in renowned tech companies such as Figma, Notion, and Ramp, all of which have achieved significant market positions.

A recent chapter in Lachy Groom’s career is the founding of Physical Intelligence in 2024. The specialized company in artificial intelligence and robotics has raised substantial capital and is currently valued at an enormous valuation, reflecting investors’ confidence in the business model and future prospects.

The robbery raises questions about security measures for high-net-worth individuals in the cryptocurrency industry and underscores the risks of physical attacks on digital assets. The incident highlights that even experienced tech professionals and investors are vulnerable to such threats.