They did take the money.
Everything over 100k deposited in the Bank of Cyprus took a 60% haircut. The remaining 40 was converted into shares in, you guessed it, the Bank of Cyprus. There was other outcomes for depositors at different banks too, none good. State robbery.
All this was done on the orders of the ECB and IMF otherwise they wouldn’t get the bail out for the country. That’s what happens when you cede power to supranational institutions and you don’t control your money, laws or borders. So glad we (UK) are leaving the EU.
Also it won’t be your precious metals they come for first. That involves a bit of effort. They’ll raid your pensions (again) or levy a punitative tax on your home. Easy for them to do and hard for you to avoid.
Majority of people are sleepwalking straight into this aswell. I got accepted for a credit card from Tesco Bank today (to buy PM). The interest on balances transferred to it is 0% for 2 years. The fee for transferring the balance O%. No catches. The banks are taking on return free risk again. It’s a no brainer for me but we all know how this plays out for them. So keep stacking folks.
Got sympathy with the guy who got robbed. Hope he gets something back.