Grand Theft Crypto: Family Kidnapped for $15 Million Ransom in Chicago

As crypto gains relevance, more illicit actors are increasingly targeting holders of digital assets. Recently unsealed documents indicate that a gang of six men perpetrated a kidnapping in Chicago, using cryptocurrency to collect the ransom.

Six individuals, Fan Zhang, Huajing Yan, Shengnan Jiang, Shiqiang Lian, Ye Cao, and Zehuan Wei, have been accused of participating in a kidnapping that took place in Chicago. The group snatched a family of four, whose names were not released, and warned the father via Wechat that they would be killed if they didn’t receive a ransom of $15 million in crypto.

The group entered the home where the family was using weapons, even snatching one of the sons getting out of the shower.

The kidnappers asked specifically for the ransom to be delivered in bitcoin or ether, two of the most popular cryptocurrencies in the industry. However, it was the son who was asked to complete some of these transactions, as the criminals seemed to know he had part of his wealth in cryptocurrency. Later the criminals gained control of these wallets, and completed transactions moving $15 million.

One of the men allegedly involved in the crime, Zehuan Wei, was arrested in January in California and has already appeared before court. Of the $15 million transferred, $9 million are still unaccounted for.

The kidnapping is the last in a series of crimes involving actions against cryptocurrency-linked individuals. Ledger co-founder David Balland was also kidnapped in January and had one of his fingers severed before being rescued by French authorities.

Read more: Ledger Co-Founder Kidnapped and Released After Intense Rescue Mission

In June, Remy St. Felix from Florida was convicted on charges of leading a gang that targeted cryptocurrency owners across the U.S., gaining access to their homes and forcing them to drain their wallets through coercion.

Read more: Crypto Theft Mastermind Convicted in US for Home Invasions, Kidnappings, and Robberies

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