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- Teenagers accused of kidnapping, robbery, extortion, stealing $4 million in crypto and NFTs.
- Victim forced to reveal crypto passwords under threat of death, leading to millions in stolen assets.
- The FBI is involved in the investigation, suspecting that a fourth person orchestrated the crime remotely.
The arrest of three Florida teenagers on charges of kidnapping, robbery, and extortion has increased public concern regarding crypto theft. According to the allegations, the victims were kidnapped, and $4 million in cryptocurrency and NFTs were taken from them. The occurrence of this incident in November 2024 reflects a rise in threats to digital assets.
Two of the suspects, aged 16, are facing trial in adult courts, with one put on $4 million bail while the other placed under house arrest. A third teen is still at large and presumably fled the country. The victim had returned from a hosting of a cryptocurrency event in Las Vegas just the day before he was ambushed by the trio. They abducted him and drove him over 70 miles to a desert near White Hills, Arizona. There, they threatened his life, telling him that he wouldn’t survive if he didn’t cooperate. They also threatened him that his father would be killed if he resisted in any way.
Crypto Heist Orchestrated Remotely
The victim, under great pressure, provided the passwords to his crypto accounts, letting the attackers gain access to millions of dollars in digital goods such as valuable NFTs. After draining the accounts, the kidnappers left him in the middle of the desert, abandoned. He had to walk for five miles to a nearby Gas station, where he would make a call to a friend for help.
Authorities have revealed that a fourth person may have been instrumental in masterminding the crime. The victim heard a phone call during the ordeal, hearing that someone was controlling the actions of the teenagers remotely. Now, the investigators are trying to track down this person, so they might have been critically involved in the planning and orchestration of this attack.
The investigation is developing with the FBI’s participation now. A preliminary hearing for two suspects in custody is scheduled for June. This case is one of the alarming trends of increased violence as criminals attack crypto holders. The increased rate of crypto popularity has made it a hot target for kidnappers and extortionists aiming to extort.
This crime is one in a chain of similar cases reported worldwide. Last year, a Ledger co-founder, David Balland, was kidnapped in France, and a cryptocurrency ransom was sought by the kidnappers. In Malaysia, a group of 14 were arrested for kidnapping two of them for $1.2 million in crypto.
Twenty-one crypto heists were reported in 2025, according to Jameson Lopp, co-founder of Casa, after 28 were reported in 2024. The rise in these crimes mirrors the increased risk of the growth of digital assets and the focus that draws from criminals.
