An entrepreneur told police he was tortured for several hours by masked criminals attempting to steal his bitcoin millions

Zaryn Dentzel is cofounder of Tuenti, a Spanish social networking site. Tuenti
Spanish media reported that an entrepreneur claimed that he was tortured and robbed by masked criminals who wanted to steal his bitcoin million.

Zaryn Dentzel was the cofounder of Spanish website Tuenti and was attacked at his Madrid residence.

Before the assailants ran with his passwords, he was bound and tied.

According to Spanish media, an entrepreneur claimed that he was tortured by masked robbers in his home to steal bitcoins in the millions.

American Zaryn Dentzel was the cofounder and CEO of Tuenti. This social network is once called "the Spanish Facebook."

El Espanol and Europapress reported this week that Dentzel said to police that four to five men broke into his Madrid apartment on Tuesday, October 9, according to El Pais, El Pais, and El Pais.

His account states that the men covered Dentzel's security cameras before they tied, bound and gagged him. El Espanol reported that the 38-year old was forced to reveal his passwords to electronic wallets and bank accounts, which contained cryptocurrency valued at "tens of million of euros."

Dentzel claimed that the gangsters beat Dentzel and slashed his chest with a knife, while also shooting at him multiple times with a Taser gun.

According to reports, the assault took place over four hours.

Apart from Dentzel's password and his phone number, the assailants apparently made off with a variety of devices, including phones, laptops, and a USB drive.

El Espanol reports that police were alerted by a neighbor to Dentzel's attack after he heard the shrieks of help from his flat. Local witnesses claimed that they witnessed a group of masked men fleeing to the streets clutching their bags.

El Pais reports that Madrid's Policia Nacional is leading the investigation and are working to verify Dentzel's story. There have been no arrests. El Espanol, citing sources from police, stated that the gang tried to steal any cryptocurrency belonging to Dentzel but was unsuccessful.

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Cryptocurrency-related theft has consistently hit the headlines. Jason Ma, Insider reported that the FBI has warned that criminals are using QR codes and ATMs to trick people into giving their money.

Insider's Kevin Shalvey reported that a Coinbase user lost $11.6 Million in less than 10 minutes last month after falling for a false-notification scam.

Business Insider has the original article.