U.S. federal authorities have charged six individuals in connection with a kidnapping case in Chicago that netted approximately $15 million in Bitcoin, Ethereum, and other cryptocurrencies.
The suspects, identified as Zehuan Wei, Fan Zhang, Huajing Yan, Shengnan Jiang, Shiqiang Lian, and Ye Cao, allegedly orchestrated a sophisticated operation targeting a Chicago family in October 2024.
Wei was apprehended attempting to re-enter the U.S. from Mexico. The others are believed to have fled to China.
According to local reports, the Federal Bureau of Investigation detailed their charges along with evidence in a 44-page affidavit, which was recently unsealed. The documents reportedly contain collected evidence — including receipts, unused zip ties and surveillance footage — from rental cars, cryptocurrency wallets, a suburban Airbnb, and various fast-food restaurants and retail stores that tied the charged individuals to the kidnappings.
Authorities say the scheme began when one of the men posed as a maintenance worker, claiming he had damaged the victims’ garage door. When the door was opened, armed accomplices stormed the townhouse, capturing the family and their nanny.
The victims were then transported in a white Ford van to an Airbnb in Forest Park, where they were held for days under duress. During this time, they were allegedly forced into executing multiple crypto transactions involving Bitcoin and Ethereum to the kidnappers. Also, the kidnappers allegedly gained access to the victims’ crypto wallets and independently transferred funds before they released the victims.
Although illicit transactions have been tracked, approximately $9 million still remains unaccounted for.
This incident adds to a growing list of cryptocurrency-related violence that has occurred globally in recent years. In January 2025, a 31-year-old Russian cryptocurrency investor was violently assaulted and robbed at a hotel in Karon, Phuket, Thailand. Local law enforcement officials claimed that two Russian nationals attacked the victim over an outstanding digital currency debt. They demanded a repayment of $120,000 and attempted to gain access to the victim’s crypto wallet under the threat of death before escaping with $20,000 in cash, leaving the victim bound in the hotel bathroom.
Authorities are reportedly working with immigration officials to track down the suspects. One of them is believed to have fled to Dubai, while the other remains in Thailand.
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