In a chilling reminder that crypto crime isn’t confined to cyberspace, authorities say three teenagers orchestrated a harrowing kidnapping of a Las Vegas man, extorting him for $4 million in cryptocurrencies and NFTs. The incident, which reportedly took place in November 2023 but is only now gaining public attention, marks one of the more extreme real-world attacks on a digital asset holder.
The victim, who had just finished hosting a cryptocurrency-related event in downtown Las Vegas, was ambushed upon arriving home. According to a local report from 8 News Now, the teen suspects forced the man into a vehicle at gunpoint and drove him roughly an hour outside the city into the desolate Nevada desert.
The ordeal quickly escalated. The suspects allegedly threatened the man’s life, claiming they had kidnapped his father and would kill him if he didn’t comply. Under duress and fearing for both his own safety and that of his father, the victim handed over access to his digital wallets, allowing the attackers to drain a reported $4 million worth of crypto assets and NFTs.
To make matters worse, investigators believe a fourth accomplice may have been involved remotely. The victim reported hearing another voice over speakerphone during the attack—someone who appeared to be giving directions to the three teens in real time.
After being left in the desert, the victim endured a grueling five-mile trek through rough terrain until he finally reached a gas station, where he contacted a friend for help. It was only then that law enforcement was notified, sparking an investigation that would later identify the suspects.
Two 16-year-old males from Florida have since been charged with robbery, kidnapping, and extortion. One of them is being held on a $4 million bail, while the other has been placed under house arrest with electronic monitoring. Prosecutors have confirmed both will be tried as adults. A third alleged suspect has reportedly left the country, complicating the case further. A preliminary hearing is set for June.
Digital asset attorney Sasha Hodder commented on the incident via X (formerly Twitter), stating, “Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore. Physical threats are becoming all too real.”
This case adds to a disturbing trend: a rise in real-world attacks on crypto holders. Just this month, French police rescued the father of a crypto entrepreneur who had been kidnapped as part of a €7 million ($7.8 million) ransom scheme. Earlier this year, a British crypto broker reportedly leapt from a second-story balcony to escape abductors threatening torture unless he handed over $30,000 in crypto.
Security experts like Jameson Lopp, co-founder of Casa and a long-time advocate for crypto safety, maintain a growing list of such incidents on GitHub. The list, which spans back to 2014, now documents over 20 offline crypto-related robberies in 2024 alone, signaling a sharp rise from previous years.
As digital wealth becomes more ubiquitous, cases like this one highlight an urgent truth: in the world of crypto, your biggest threat may no longer be hackers behind a screen—but criminals with a gun.
