Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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July 19, 2025

Peter McCormack, well-known Bitcoin podcaster and owner of Real Bedford FC, has announced a bold plan to tackle rising crime in Bedford, UK, stepping into a role some liken to a real-life Batman.

Frustrated by what he calls the police’s failure to protect the community, McCormack is personally funding a pilot initiative deploying ten security guards to patrol the town center every Saturday.

In a post on X, McCormack said, “If the police won’t keep the town safe for our women and children, I will.”

Rising Crime in Bedford Sparks Business Closures

McCormack said his concerns center on a surge in crime, including aggressive begging, shoplifting, and harassment, which he says have driven shoppers away, forced stores to close, and left families feeling unsafe.

The Bedford-based entrepreneur and football club owner claims he issued a warning to local police before launching his plan, criticizing them for not addressing these issues.

Bedford, a town of around 185,800 residents located less than two hours from London, has seen McCormack become a vocal advocate for community safety.

Alongside his business ventures, he runs Real Bedford FC, a football club famously dubbed the “Bitcoin soccer team,” backed by investments from Gemini founders Tyler and Cameron Winklevoss.

McCormack has engaged local residents by surveying them about crime and has called for community meetings to build support for his security project.

Despite the initiative’s ambition, legal questions remain around how these private security personnel will operate in public spaces.

Vigilantism is illegal in the UK, and experts from JD Spicer Zeb Solicitors caution that such efforts must stay within legal boundaries.

It is suggested that the guards may function more as informants, gathering video evidence to assist police investigations, similar to the growing trend of traffic vigilantes in the country.

While the concept of privately funded security patrols might seem unconventional, it reflects a broader trend in areas facing police shortages.

Lieutenant Eric J. Altorfer of the San Francisco Police Department noted earlier this year that private security increasingly fills gaps left by understaffed law enforcement agencies.

However, Altorfer emphasized the importance of clear collaboration between private security firms and public police to ensure accountability and effectiveness.

Crypto Execs Hire Bodyguards Amid Influencer Kidnapping Concerns

As reported, crypto executives are turning to personal security services as targeted kidnappings and ransom attempts continue to escalate, particularly in France.

In May, private security firms such as Infinite Risks International, based in Amsterdam, reported a sharp increase in demand from crypto professionals seeking round-the-clock protection amid rising crypto kidnappings.

The rise in inquiries came after a spate of violent attacks, including multiple kidnapping attempts that have alarmed both investors and law enforcement.

In France, the father of a crypto millionaire was brutally attacked. And in New York, a tourist was tortured for over two weeks as kidnappers tried to extract his Bitcoin credentials.

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The US Department of Justice (DOJ) has announced a crypto podcaster and online personality known as T.J. Stone has been sentenced to prison on a count of wire fraud. The convict allegedly swindled several unsuspecting victims of over $2 million in an elaborate investment scam.

Crypto Influencer Swindles Victims Of Over $2 Million

According to a statement by the DOJ, Eastern District of New York, Thomas John Sfraga, popularly known as T.J. Stone, presented himself to society as an established serial entrepreneur between 2016-2022 with multiple businesses in real estate, podcasting, media, and cryptocurrency.

Using this false image, the felon was able to solicit money from individuals in Brooklyn, Staten Island, and Long Island. T.J. Stone deceived his eventual victims into believing these funds were for investment in real estate and certain crypto projects, with his most prominent businesses being Build Strong Homes LLC and Vandelay Contracting Corp. 

In particular, he collected a $100,000 loan for a supposed start-up construction firm, while also convincing another individual to invest in a non-existent crypto wallet that promised a 60% yield in three months. However, the DOJ reports T.J. Stone used these investments for personal expenses, and paid earlier victims and partners to maintain a mirage of running an actual business. In reality, Stone swindled a minimum of 17 victims of $2 million.

Commenting on the convict’s actions, Attorney General of the Eastern District of New York, John Durham said:

Sfraga callously stole from friends, next-door neighbors, and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors.

Following an investigation into his shady actions, Stone fled to Arizona under a false name but was eventually apprehended in Las Vegas. In May 2024, Mr. Sfraga pleaded guilty to charges of wire fraud.

Penalties And Compensations

Following the ruling of United States District Judge Frederic Block on March 13, Stone has been sentenced to 45 months in prison, and below the maximum sentence for wire fraud at 240 months. In addition, the convict is to pay $1,337,000 in forfeiture with a restitution amount to victims yet to be determined.

In other news, the general crypto market is presently experiencing an uptick with the total market cap rising by 2.12%. Bitcoin is up by 3.21% trading above $84,000 with its market cap now around $1.67 trillion. Meanwhile, prominent altcoins such as Ethereum (ETH), XRP, and Solana (SOL) have also gained by 1.22%, 5.64%, and 7.21% in the past 24 hours.

Featured image from iStock, chart from Tradingview 

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