TLDR
- Three Florida teenagers kidnapped a Las Vegas man at gunpoint after a crypto event
- Victim was driven to a remote desert area in Arizona where $4M in crypto and NFTs were stolen
- Two 16-year-olds are facing charges including robbery, kidnapping, and extortion
- A third teen suspect has reportedly fled the country
- The incident is part of a growing trend of physical crypto-related crimes
Three teenagers from Florida are facing serious charges after allegedly kidnapping a Las Vegas man at gunpoint and stealing $4 million in cryptocurrency and NFTs. The incident, which occurred last November, represents a concerning evolution in crypto-related crimes moving from online attacks to physical confrontations.
The victim had just finished hosting a cryptocurrency event in downtown Las Vegas when the teens approached him at his apartment complex. They forced him into their vehicle and placed a towel over his head, according to police reports.
The young men threatened the victim, telling him he would “live to see another day” if he complied with their demands. They also claimed they “had his dad and would kill him” if he didn’t cooperate.
Police reports indicate that a fourth person may have been involved, communicating with the teenagers through a speakerphone during the kidnapping. This person’s identity remains unknown at this time.
The teens drove the victim across state lines to White Hills, Arizona, about 70 miles from Las Vegas. There, they forced him to reveal passwords to his financial accounts.
After the attackers stole $4 million worth of cryptocurrency and non-fungible tokens, they abandoned the victim in the desert. He walked five miles alone to reach a gas station where he called a friend for help.
Law enforcement has identified two of the suspects as 16-year-olds Belal Ashraf and Austin Fletcher from Pasco County, Florida. Both are being tried as adults on charges including robbery, kidnapping, and extortion.
Rising Physical Threats in Crypto
The case highlights a growing problem in the cryptocurrency world. Digital asset lawyer Sasha Hodder noted on social media that “Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.”
Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.
These Florida teens kidnapped a man from a Vegas crypto event, drove him into the Arizona desert, and stole $4M at gunpoint.https://t.co/p07Syyeq2n
— Sasha Hodder (@sashahodler) May 10, 2025
Physical attacks targeting crypto holders have become more common in recent years. According to data compiled by Jameson Lopp, co-founder of self-custodial firm Casa, there have been 21 incidents of in-person crypto-related robbery reported so far this year.
This continues a troubling pattern seen in previous years, with 28 incidents recorded in 2024 and 17 in 2023. The first documented case dates back to 2014, when someone allegedly tried to extort computer scientist Hal Finney of 1,000 Bitcoin.
Recent examples include the May 3 case where the father of a crypto entrepreneur was held for several days in Paris as part of a €7 million ransom plot. In February, a UK crypto broker reportedly jumped 30 feet from a balcony to escape kidnappers who were threatening torture if he didn’t transfer €30,000 in crypto.
The Las Vegas case investigation involved tracking a suspect vehicle traveling from Florida to Nevada. Police also connected the teens through a gun matching one seen in social media profiles and through reports of previous disturbances at their Florida high school.
Fletcher is currently in custody with bail set at $4 million. Ashraf has been released under house arrest with electronic monitoring. Both are scheduled for a preliminary hearing in June.
The third teenager allegedly involved in the kidnapping has left the United States, according to prosecutors. The FBI has assisted in the investigation of this interstate crime.
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