A recent kidnapping case involving cryptocurrency in Las Vegas has thrown a spotlight on the increasing dangers faced by crypto investors in the U.S. and beyond.
Austin Fletcher, 16, from San Antonio, Florida, alongside another minor, Belal Ashraf from Wesley Chapel, Florida, stands accused of multiple felonies, including robbery with a deadly weapon and kidnapping.
The alleged crime targeted Anthony Miller, a cryptocurrency entrepreneur based in Las Vegas.
Authorities allege that the boys stalked Miller and extorted him for his cryptocurrency assets.
In an intriguing twist, a third juvenile suspect in the case was reportedly out of the country at the time of the allegations, as sources informed the Las Vegas Review-Journal.
Miller, who was attending a small cryptocurrency convention coinciding with last year’s Formula One race, describes a harrowing experience following the event on November 21.
After returning home from the convention, Miller was approached outside his vehicle by three armed individuals wearing ski masks. They forcibly took him into the back of a Hyundai SUV.
During the abduction, Miller reported that one of the assailants communicated with someone via phone to direct the kidnapping. The attackers were fixated on extracting Miller’s “Trezor wallet,” a secure device used for storing cryptocurrency.
Ultimately, the abductors succeeded in accessing up to $4.8 million in Ape Coin and non-fungible tokens (NFTs), which are unique digital assets popular in the crypto community.
After acquiring what they wanted, the suspects drove Miller to a remote desert area in Arizona, approximately 26 miles from the Nevada state line.
Throughout this chilling trip, Miller recounted that a gun was constantly aimed at him, instilling a constant fear of being shot.
Once they abandoned him in the desolate area, Miller managed to walk approximately five miles to a nearby gas station in White Hills, Arizona, where he called his ex-girlfriend for assistance.
The following day, he met with law enforcement to report the kidnapping and robbery.
Interestingly, Miller observed that his kidnappers seemed inexperienced, with one of them notably trembling during the ordeal. His ex-girlfriend relayed that he described the criminals as “trying to act hard like gangsters.”
The Las Vegas incident is not an isolated case, as growing reports of violent crimes related to cryptocurrency have emerged globally in recent months.
In New York, authorities arrested a cryptocurrency investor in May for kidnapping another man to extort his Bitcoin password, highlighting the alarming trend.
Beyond U.S. borders, reports of crypto-related kidnappings surfaced in Argentina, where a Russian couple was also targeted. Incidents in France have made headlines as well, including a particularly brutal case where a man was tortured and had his finger severed.
In an Associated Press article, the phenomenon known as “wrench attacks” on wealthy crypto holders was discussed, emphasizing how common these crimes have become.
The atmosphere at the recent Bitcoin 2025 Conference held in Las Vegas reflected these concerns. Attendees expressed unease about the rise in violent crimes against crypto investors.
Jake Gallen, a Las Vegas crypto businessman and CEO of Emblem Vault, voiced his observations, stating, “It’s becoming a more frequent event. I see it discussed on (the social media platform X) every time an event happens.”
Gallen pointed out that many individuals in the crypto industry are mindful of their public presence and often choose to remain anonymous.
He noted that some crypto investors make the mistake of showcasing their wealth, either during public meetups or on social media, thereby attracting unwanted attention.
The burgeoning issue of cryptocurrency fraud has escalated dramatically, with an FBI report citing over $5.6 billion in losses in 2023—a nearly 50 percent increase from the previous year.
Currently, the Las Vegas Metropolitan Police Department’s inquiry into the kidnapping has not yielded an interview opportunity, and inquiries to the Clark County district attorney’s office about the charges against the two Florida suspects went unanswered.
In January, the FBI initiated “Operation Level Up,” a national campaign aimed at combating cryptocurrency fraud. Still, crypto holders continue to find themselves at risk.
According to the FBI, during the initial four months of “Operation Level Up,” officials notified over 5,800 individuals that they had been victims of cryptocurrency investment fraud, with nearly 80 percent unaware they had been scammed.
The anonymous nature of cryptocurrency makes it challenging to track and apprehend criminals, according to Daniel Chi, a professor and chair of the Lee Business School at UNLV.
“A digital wallet, like an actual wallet, is gone once it’s gone,” Chi explained, asserting that the anonymity inherent in digital currency has emboldened criminals.
As for the legal proceedings against the alleged kidnappers, Ashraf and Fletcher are set for preliminary hearings in Las Vegas Justice Court later this month.
The suspects were tracked down by police, who linked the Hyundai SUV used in the kidnapping to Mississippi.
Las Vegas records indicate the teens have had previous run-ins with law enforcement in Florida, including an incident reported at a high school football game.
Fletcher’s attorney, Michael Troiano, contended that there is more to the narrative than what has been disclosed.
“There are adults with far greater power and influence who remain free, despite their roles in shaping the event under scrutiny,” Troiano asserted.
He looks forward to providing additional context to the case in court, declaring, “Austin’s voice will finally be heard, and the truth can emerge.”
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