Three teenagers from Florida are facing serious charges, including kidnapping, robbery, and extortion, after allegedly abducting a man at gunpoint and stealing $4 million in cryptocurrency and non-fungible tokens (NFTs).

Details of the Incident

According to reports, two of the suspects, both 16 years old and from Pasco County, Florida, are being tried as adults. One is currently held on a $4 million bail, while the other is under house arrest with electronic monitoring. A third suspect fled the country and remains at large.

The incident reportedly occurred in November, when the suspects ambushed the victim as he was returning home after hosting a cryptocurrency event in Downtown Las Vegas. The attackers forced him into a vehicle and drove him more than 70 miles to a remote desert area near White Hills, Arizona.

Threats and Crypto Theft

In the desert, the victim was threatened with his life, being told he wouldn’t “live to see another day” if he didn’t cooperate. The attackers also threatened to harm his father if he resisted. Under duress, the victim provided passwords to his cryptocurrency accounts, giving the teenagers access to millions of dollars in digital assets, including NFTs.

After transferring the funds, the suspects reportedly abandoned the victim in the desert. He was left to walk five miles to a gas station, where he managed to contact a friend for help.

Possible Fourth Suspect

Authorities suspect a fourth individual may have been involved remotely. During the ordeal, the victim overheard a phone conversation on speaker, suggesting someone was guiding or communicating with the teenagers in real time. This person has not yet been identified but is believed to have played a significant role in orchestrating the attack.

The FBI is collaborating with local law enforcement on the case, and a preliminary hearing for the two detained suspects is scheduled for June.

Rising Crimes Targeting Crypto Holders

This incident is part of a growing trend of violent crimes targeting cryptocurrency holders. As the adoption of digital assets increases, so does the risk of crimes such as kidnapping and extortion.

Earlier this year, a high-profile case involved the kidnapping of Ledger co-founder David Balland in France. His abductors demanded a cryptocurrency ransom, but he was rescued after a two-day police operation. In another case, Malaysian authorities arrested 14 individuals in connection with the kidnapping of two victims in Cyberjaya. The attackers received $1.2 million in cryptocurrency as ransom before releasing the hostages. However, four suspects in that case are still at large.

Crypto Crimes on the Rise

According to data compiled by industry experts, offline crypto-related robberies have been steadily increasing. In 2025 alone, 21 such incidents have been reported, following 28 cases in 2024. This highlights the growing need for personal security measures among cryptocurrency investors.

Protecting Your Digital Assets

To reduce the chances of becoming a target, consider the following tips:

  • Keep Your Holdings Private: Avoid publicly discussing your crypto investments, especially large holdings.
  • Use Cold Storage: Store the majority of your assets in offline wallets, inaccessible to hackers or physical threats.
  • Enable Multi-Factor Authentication (MFA): Secure your accounts with MFA for an extra layer of protection.
  • Be Cautious with Events: If attending crypto-related events, avoid sharing personal details or travel plans publicly.
  • Have Emergency Contacts: Ensure trusted individuals know how to respond if you’re ever in a dangerous situation.

As the cryptocurrency market continues to grow, staying vigilant and prioritizing security is essential for protecting your digital assets and personal safety.

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