Teenagers Charged in $4M Crypto Kidnapping Scheme

Three Florida teenagers are facing serious charges after allegedly kidnapping a man and stealing millions in cryptocurrency and non-fungible tokens (NFTs). The incident, which took place in November, has sparked concerns about the increasing link between digital assets and violent crime.

Two of the suspects, both 16-year-olds from Pasco County, are being tried as adults. One is currently being held on a $4 million bail, while the other has been placed under house arrest with electronic monitoring. A third suspect reportedly fled the country and remains at large.

According to reports, the teenagers ambushed the victim as he returned home from hosting a cryptocurrency event in Las Vegas. The suspects drove him more than 70 miles to a remote desert area near White Hills, Arizona, where they threatened his life and the safety of his father. Under duress, the victim revealed the passwords to his crypto accounts, granting the teens access to millions of dollars in digital assets, including NFTs.

After draining the victim's accounts, the suspects abandoned him in the desert, leaving him to walk five miles to a gas station, where he was able to call for help. Authorities believe a fourth individual may have been involved remotely, as the victim overheard a phone conversation during the ordeal, suggesting that someone else was orchestrating the crime.

The FBI has joined local law enforcement in the investigation, with a preliminary hearing for the two teens scheduled for June. This case highlights a growing trend of violent crimes linked to cryptocurrencies, as digital asset holders become increasingly vulnerable to kidnapping and extortion schemes.