Three Teenagers in the U.S. Kidnap Man for Cryptocurrency
In late 2024, three teenagers in the U.S. armed themselves and kidnapped a man who had just participated in a cryptocurrency event, forcing him to reveal his password and stealing approximately $4 million worth of cryptocurrency and NFTs. The victim walked more than 8 kilometers in the desert before successfully reporting the incident. Currently, two suspects have been arrested, while a third teenager is suspected to have fled the U.S. The preliminary hearing is expected to take place in June 2025.
The Incident Occurred in November 2024
The incident took place in November 2024. The victim had just hosted a cryptocurrency event in downtown Las Vegas and was preparing to head home for some rest. As he entered his home, he was ambushed by three teenagers who threatened him with a gun and forced him into a vehicle, driving him to a remote desert area an hour outside the city.
Threatened in the Desert: “Your Dad is in Our Hands”
In the desert, the three teenagers threatened him, saying, “If you want to live, give us the password.” They even intimidated him further, stating, “Your dad is in our hands; if you don’t cooperate, we will kill him.” There was a phone on speaker, suggesting a fourth person was remotely directing the entire operation.
After the Wallet Was Cleared, He Walked 5 Miles for Help
After the victim provided the password, his account containing $4 million worth of cryptocurrency and NFTs was instantly emptied. He was subsequently abandoned in the desert, where he ultimately walked nearly 8 kilometers barefoot before contacting a friend for help at a gas station and reporting the incident to the police.
Two 16-Year-Old Suspects Arrested; One Fled the Country
Currently, two 16-year-old suspects from Florida have been arrested by the police on charges of kidnapping, robbery, and extortion. Here is the current status of the three individuals:
- One is currently detained with bail set at $4 million.
- The other is monitored with an electronic ankle bracelet and is temporarily placed at home.
- The third teenager involved is suspected to have fled the U.S., and efforts are underway to track his whereabouts.
All three will be tried as adults, with a preliminary hearing scheduled for June 2025.
Increase in Cryptocurrency Robberies Each Year
Digital asset lawyer Sasha Hodder commented on May 10, noting that cryptocurrency thefts have evolved beyond mere social engineering attacks or SIM card hijacks, escalating directly to offline violent extortion. This incident is just the tip of the iceberg in global cryptocurrency robberies.
According to a tracking list established by Jameson Lopp, co-founder of the cryptocurrency security company Casa, the data on global offline cryptocurrency robberies is as follows:
- 2021: 32 incidents
- 2023: 17 incidents
- 2024: 28 incidents
- As of now in 2025: 21 incidents
Other Notable Incidents
In addition to the U.S., a kidnapping case occurred in early May 2025 in Paris, France, where the father of a cryptocurrency entrepreneur was kidnapped for several days until police intervened. The kidnappers initially demanded $7.8 million. Additionally, in February 2025, a cryptocurrency industry professional in the UK escaped by jumping from a 9-meter-high balcony.
Cold Wallets Won’t Save You; “Personal Protection” is the Key
Cases like these remind all cryptocurrency holders that relying solely on cold wallets and recovery phrases for safety is insufficient. As you accumulate wealth, the real risk may come from threats in the physical world. Therefore, learning how to protect oneself is crucial.
Risk Warning
Investing in cryptocurrency involves a high level of risk, and its price can be very volatile. You may lose your entire principal. Please evaluate the risks carefully.