Three teenagers are facing serious criminal charges after allegedly kidnapping a Las Vegas man at gunpoint and robbing him of $4 million in cryptocurrency and NFTs, in what authorities are calling a chilling escalation in offline crypto-related crime.
Crypto heist follows industry event in Vegas
The harrowing incident occurred last November after the victim returned home from hosting a crypto-focused event in downtown Las Vegas. According to a report the man was ambushed by three teenagers who forced him into a vehicle and drove him approximately one hour into a remote desert location outside the city.
There, the victim was held at gunpoint and pressured into surrendering passwords to his digital asset accounts. The teens allegedly threatened to kill him and claimed to be holding his father hostage to coerce compliance.
One of the attackers reportedly placed a call on speakerphone, allowing the victim to hear a fourth individual, possibly coordinating or directing the assault from a distance.
After being robbed of $4 million in crypto and NFTs, the victim was left in the desert and had to walk five miles to a gas station, where he contacted a friend for help.
Teen suspects face adult charges
Two of the suspects, both 16-year-olds from Florida, have been apprehended and are facing multiple charges including robbery, kidnapping, and extortion. One of the teens remains in custody with bail set at $4 million, while the other has been released under house arrest and is subject to electronic monitoring.
A third suspect believed to be involved in the plot has reportedly left the United States. Authorities continue to investigate the potential involvement of a fourth person heard during the kidnapping.
Prosecutors have confirmed that both detained suspects will be tried as adults. A preliminary hearing is scheduled for June.
Digital asset attorney Sasha Hodder commented on the incident in a May 10 post on X, writing: Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.
Offline attacks on crypto holders on the rise
This case underscores a broader trend of physical threats targeting individuals in the cryptocurrency industry. Offline attacks—including kidnappings and home invasions—have become an alarming method for cybercriminals who seek to bypass digital security measures by resorting to direct coercion.
Just last week, French authorities rescued the father of a crypto entrepreneur who had been held hostage in a €7 million ($7.8 million) extortion plot. In another incident earlier this year, a U.K.-based crypto broker reportedly leapt 30 feet from a balcony to escape captors demanding €30,000 ($30,917) in digital assets.
Cypherpunk and Casa co-founder Jameson Lopp, who maintains a public record of physical crypto thefts, has documented dozens of such incidents globally. According to Lopp’s GitHub-based list:
- 2021: 32 known physical crypto theft cases
- 2023: 17 cases
- 2024 (to date): 21 cases
- Notable earliest incident (2014): Attempted extortion of 1,000 BTC from computer scientist Hal Finney, worth $400,000 at the time
As crypto adoption grows, so too does the risk of offline threats—highlighting the need for heightened personal security measures among high-profile investors and industry figures.
