The U.S. Department of Justice has disclosed new developments in a kidnapping case related to crypto assets. Prosecutors say Saif Faiq pleaded guilty on June 9 in federal court in Hartford, Connecticut, to conspiracy to disrupt business by robbery. Sentencing is scheduled for August 28.
Kidnapping planned in 2024
According to court documents, Faiq and his brother Adam Iza plotted to kidnap the parents of a crypto billionaire in 2024 in an attempt to extort digital assets. Investigators say Faiq recruited six men from Florida, arranged for them to travel to Connecticut, and assisted in monitoring the target.
Prosecutors stated that the incident occurred in Danbury. The attackers first deliberately rear-ended the victim couple's Lamborghini Urus, then surrounded them in a van and carried out the attack in broad daylight.
Six perpetrators have pleaded guilty.
Prosecutors stated that the attackers forcibly dragged the occupants out of the vehicle, beat the victims with baseball bats, and briefly subdued them. The six men involved in the incident have been charged separately and have subsequently pleaded guilty to kidnapping and carjacking related charges.
The U.S. Department of Justice also stated that Adam Iza pleaded guilty on June 1 to the same count of conspiracy. Court documents show that both brothers admitted their roles in organizing the kidnapping. Faiq has been in custody since his arrest in November 2025.
This led to the theft of 4,100 Bitcoins.
Prosecutors stated that the victims were Veer Chetal's parents. Federal prosecutors allege that Veer Chetal was involved in a large-scale cryptocurrency theft involving approximately 4,100 bitcoins. He pleaded guilty to the charges in November 2025 and is currently awaiting sentencing.
France is also currently investigating another attempted kidnapping case related to crypto assets. Previously, the wife of Sebastien Borget, co-founder and COO of The Sandbox, was attacked outside her home. The suspect approached the residence posing as a deliveryman but fled after neighbors intervened.
