Crypto Kidnappings: Keep Quiet or Risk Your Life

Why You Should NEVER Talk About Your Crypto

Cryptocurrency offers financial freedom, but it also attracts criminals. Whether you own $100 in Bitcoin or millions in Ethereum, talking about your crypto can make you a target for theft, kidnapping, and even torture. Criminals don’t just go after whales, they prey on anyone they believe they can exploit!

The biggest mistake crypto investors make? Telling people they have crypto. Don’t do this! Once the wrong person knows, you could end up in a situation where you’re forced to hand over everything at gunpoint or worse. It’s not just your life that is at risk, but also that of your family and even extended family.

The following real-world cases prove why you should keep your crypto holdings a secret. Here are four recent cases that should open your eyes, hopefully.

1. Chicago Cryptocurrency Kidnapping: $15 Million Stolen in Crypto Ransom

February 2025 – Six men have been charged in connection with the kidnapping of three family members and a nanny from a Chicago townhouse in October. The victims were held for four days and forced to transfer approximately $15 million in cryptocurrency before being released near a dry cleaner, according to newly unsealed court records.

FBI Investigation Uncovers Details of the Kidnapping

A recently unsealed 44-page FBI affidavit provides insight into the crime. Authorities collected key evidence, including receipts, unused zip ties, and surveillance footage, from various locations such as rental cars, cryptocurrency wallets, an Airbnb rental in the suburbs, and multiple retail and fast-food establishments.

One of the suspects, 34-year-old Zehuan Wei, was arrested on January 17 while attempting to enter the U.S. from Mexico at a California border crossing. He made his first court appearance in California.

The other five suspects—Fan Zhang, Huajing Yan, Shengnan Jiang, Shiqiang Lian, and Ye Cao—were also charged with kidnapping. Some of them allegedly fled from Mexico to China following Wei’s arrest, as detailed in an FBI search warrant affidavit.

Victims Held for Four Days, Forced to Transfer Crypto

The case came to light when one of the victims, referred to as “Individual A” in court documents, contacted his father via WeChat on October 27. He explained that he, two family members, and a nanny had been kidnapped and that their captors were demanding cryptocurrency as ransom.

The abduction began when a man wearing a hat and glasses knocked on their townhouse door, claiming to have damaged their garage door. As soon as the door opened, armed men rushed in and took the victims hostage. The kidnappers immediately pressured the son to initiate cryptocurrency transfers and later accessed his accounts to execute additional transactions, totaling $15 million.

The victims were held at multiple locations, starting with a white Ford van that transported them to an Airbnb rental in Forest Park. After spending one night there, they were moved to another undisclosed house. On November 1, they were released and walked to a nearby dry cleaner, where they called an Uber to take them to Northwestern Memorial Hospital.

One of the victims reported being struck on the head with a gun, though he suspected it might have been a fake weapon. Other than that, the victims stated they were not physically harmed. They recalled eating meals from McDonald’s, Culver’s, Subway, and PF Chang’s during their captivity. Additionally, they noted that the kidnappers spoke both Mandarin and Spanish.

Surveillance and Evidence Lead to Suspect Identification

The FBI examined surveillance footage from the Forest Park Airbnb, identifying at least six kidnappers. Investigators matched images from the footage to official documents such as U.S. Customs and Border Protection records and state-issued driver’s licenses.

Authorities traced the white Ford van used in the abduction to a Chicago auto leasing company. Inside, they discovered a water bottle, baby wipes, and unused zip ties. In another rental vehicle, a Chrysler Pacifica rented by Wei, agents found DNA swabs, receipts, clothing, medical masks, cigarettes, an AirPod case, and latent fingerprints.

Further surveillance placed the suspects at multiple locations, including a McDonald’s in Hampshire, a Culver’s in Berwyn, a BP gas station in Oak Park, and Target stores in Streamwood and Schaumburg. Some of the kidnappers were later identified by the victims in a police photo lineup.

Suspects Flee, $9 Million Still Missing

Flight records indicate that Wei and Zhang left O’Hare International Airport for Las Vegas on November 1. Meanwhile, Lian, Cao, Yan, and Jiang reportedly traveled to Los Angeles the same day. On January 19, Jiang and Yan were tracked boarding a flight from Tijuana, Mexico, to Beijing, followed by Lian the next day.

Wei was eventually apprehended at the Otay Mesa border crossing in California on January 17. At the time of his arrest, he was carrying two cell phones, a California driver’s license, a Chinese passport, and $661 in cash.

While authorities have successfully traced much of the stolen cryptocurrency, approximately $9 million remains unaccounted for. The investigation is ongoing as law enforcement continues efforts to recover the missing funds and locate the remaining suspects.

Key Points:

• Six men charged in connection with the kidnapping of a family and nanny, who were held for four days and forced to transfer $15 million in cryptocurrency.
• FBI investigation uncovers key evidence, including surveillance footage, receipts, and DNA swabs from multiple locations.
• Suspects fled to various locations, including China, while Wei was arrested at the California border.
• Approximately $9 million of the stolen cryptocurrency remains missing.

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2. French Authorities Arrest Seven in Connection with Kidnapping of Ledger Co-Founder and Wife

In a shocking turn of events, David Balland, the 36-year-old co-founder of Ledger, a global leader in cryptocurrency security, and his wife were kidnapped from their home in the Loire region of France on January 23, 2025. Authorities have since arrested seven suspects, including six men and one woman, in connection with the crime.

The kidnappers, who were later identified as having a history of criminal activity, had no prior involvement in gang-related crimes, according to prosecutors. Following the kidnapping, police launched an extensive investigation, which led to the release of the victims and the arrest of the suspects.

Eric Larchevêque, another co-founder of Ledger, was the first to alert the authorities after receiving a disturbing video showing a mutilated finger belonging to Balland and a ransom demand. The police managed to track down and rescue Balland the following day, while his wife was found tied up in a separate location.

The kidnappers demanded a significant amount of cryptocurrency in exchange for the victims’ release. Police negotiators, working closely with experts in cryptocurrency, managed to secure part of the ransom payment before most of the assets were seized and frozen.

The suspects, who are now in pre-trial detention, face serious charges, including gang-related kidnapping, acts of torture, and armed extortion. The investigation continues, with 230 police officers, including the elite GIGN tactical unit, involved in the operation.

Key Points:

• Seven individuals arrested in connection with the kidnapping of Ledger co-founder and his wife.
• The suspects are facing charges of gang-related kidnapping, torture, and extortion.
• Ledger is a leader in cryptocurrency security, providing digital wallets to safeguard crypto assets.

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3. Florida Man Convicted for Leading Violent Cryptocurrency Home Invasion Scheme

June 2024 – A federal jury in Greensboro, North Carolina, found Remy St Felix, a 24-year-old from West Palm Beach, Florida, guilty of orchestrating a series of violent home invasions targeting cryptocurrency owners. The scheme, which spanned multiple states, involved kidnapping, assault, and the theft of Bitcoin and other digital currencies from victims across the United States.

The Crime: A Nationwide Cryptocurrency Theft Operation

St Felix led a crew responsible for breaking into homes and forcibly stealing cryptocurrency from their victims. Between September 2022 and July 2023, St Felix’s gang operated across several U.S. states, including North Carolina, Florida, Texas, and New York. Victims were held hostage, forced to transfer their cryptocurrency assets under threat of violence.

According to the U.S. Department of Justice, St Felix and his co-conspirators employed violent tactics and intimidation to gain access to their targets’ cryptocurrency wallets. The crew’s primary aim was to drain victims’ accounts, often using encrypted messaging and decentralized finance platforms to cover their tracks.

Remy St Felix and His Co-Conspirators Face Justice

The Justice Department praised the tireless efforts of law enforcement in bringing St Felix and his crew to justice. U.S. Attorney Sandra J. Hairston emphasized that St Felix’s actions were driven by greed, terrorizing innocent people for financial gain.

Evidence presented during the trial highlighted the brutality of the crime. In April 2023, St Felix and a co-conspirator forcibly entered a victim’s home, assaulting the victim and his spouse while transferring over $150,000 in cryptocurrency from their account.

St Felix and his crew used sophisticated techniques to bypass security measures, including gaining unauthorized access to email accounts and conducting physical surveillance on their victims. To launder the stolen funds, they utilized privacy-focused cryptocurrencies like Monero and anonymous exchanges.

FBI Investigation and Conviction

The FBI led the investigation into the home invasion ring, with Special Agent in Charge Robert M. DeWitt commending the work of the team. The case serves as a stark reminder that violence and cryptocurrency theft will not go unpunished.

St Felix was apprehended in July 2023, on his way to carry out another robbery in New York. Thirteen other members of the crew were arrested and later pleaded guilty to their roles in the scheme.

The jury convicted St Felix on several charges, including conspiracy, kidnapping, armed robbery, and wire fraud. He faces a mandatory minimum sentence of seven years in prison and could receive a life sentence depending on the judge’s ruling.

The Growing Threat of Violent Cryptocurrency Crimes

The case underscores the increasing risk of violent crimes tied to cryptocurrency, as digital assets become more valuable. The National Cryptocurrency Enforcement Team (NCET), a specialized unit within the U.S. Department of Justice, has been instrumental in investigating and prosecuting such crimes. NCET, in collaboration with local law enforcement agencies, continues to focus on tackling the illicit use of cryptocurrencies in criminal enterprises.

Key Points:

• Florida Man Convicted: Remy St Felix, a 24-year-old from West Palm Beach, Florida, was convicted for leading a violent cryptocurrency home invasion crew targeting U.S. citizens.
• Criminal Scheme: Between September 2022 and July 2023, St Felix and his crew kidnapped, assaulted, and stole cryptocurrency from victims in multiple states, including North Carolina, Florida, Texas, and New York.
• Victims Forced to Transfer Crypto: In several cases, victims were held hostage and forced to drain their cryptocurrency accounts under threat of violence.
• Sophisticated Tactics: The criminals used techniques like unauthorized email access, physical surveillance, and privacy-enhancing cryptocurrencies like Monero to launder the stolen funds.
• FBI and Law Enforcement Investigation: The FBI, in collaboration with local agencies, investigated the case, leading to the conviction of St Felix and 13 other co-conspirators.
• Conviction Details: St Felix was convicted on multiple charges, including conspiracy, kidnapping, armed robbery, and wire fraud. He faces a mandatory minimum sentence of seven years in prison, with the possibility of life in prison.
• Ongoing Focus on Cryptocurrency Crimes: The case highlights the growing threat of violent crimes related to cryptocurrency, with the U.S. Department of Justice and the National Cryptocurrency Enforcement Team (NCET) intensifying efforts to combat such offenses.

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Kidnapped Crypto Trader Jumps from Balcony to Escape, Breaks Ankles in Desperate Bid for Freedom

February 2025 – A 34-year-old cryptocurrency trader was kidnapped in Marbella, Spain, and threatened with torture and death by a gang demanding a €30,000 ($31,000) ransom in cryptocurrency. In a desperate attempt to escape, the trader jumped from a 30-foot balcony, breaking both ankles in the process. The dramatic escape occurred after the victim managed to secretly alert a friend, who contacted the police.

The Kidnapping and Escape

The victim, a crypto trader, met his captors in Marbella and was invited to drinks at an apartment in Estepona. Once inside, the gang allegedly kidnapped him, demanding that he transfer the ransom in cryptocurrency from his clients’ accounts. They threatened to torture him if he did not comply.

Pretending to follow through with the demands, the victim secretly called a friend, who helped notify the authorities. As the kidnappers were distracted, the victim seized the opportunity to escape by jumping from the balcony. However, the leap ended badly, and he broke both of his ankles.

Police Intervention and Arrests

Before the kidnappers could flee, armed police arrived at the apartment. The suspects were apprehended, and a search of the premises revealed disturbing evidence. Among the items recovered were 25kg of pink cocaine, €10,000 ($10,300), two firearms, three knives (including a butterfly knife), and two high-value watches.

Key Points:

• Victim’s Escape: A crypto trader kidnapped in Spain broke both ankles after jumping from a 30-foot balcony to escape his captors demanding €30,000 ($31,000) in ransom.
• Kidnappers’ Demands: The gang forced the victim to access cryptocurrency accounts for the ransom but was deceived when the victim contacted a friend for help.
• Arrests and Evidence: Police found 25kg of pink cocaine, two firearms, €10,000, knives, and luxury watches in the kidnappers’ apartment.
• Crypto Crime Surge: This incident follows other violent crypto-related crimes, including the kidnapping of CEO David Balland and a Pakistani plot to steal $340,000 in crypto.

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Why You Should Keep Your Cryptocurrency Private

• Keep Your Crypto Safe: Whether you have a little or a lot of cryptocurrency, telling others about it can put you at risk. People might talk, and word can get to the wrong people.
• Stay Low-Key: Crimes like theft and even kidnapping are happening more often because criminals target people whose crypto wealth is known to others.
• Things Can Spread: Even if you trust your friends or family, talking about your crypto can lead to information spreading without you knowing, which could put you in danger.
• Be Smart: In today’s world, it’s better to keep your cryptocurrency private. Don’t share details about your holdings with anyone, even if they seem trustworthy. The best way to protect your cryptocurrency is by keeping it a secret. Don’t let anyone know how much you have, and stay safe.