Authorities have charged six men in connection with the October 2024 kidnapping of four people from a Chicago townhouse, forcing them to transfer approximately $15 million in crypto.
According to a report from the Chicago Tribune on Wednesday, the victims, including three family members and a nanny, were held captive for five days before being released near a dry cleaning store.
The FBI affidavit also said that the suspects used firearms, threats, and forced transactions to access the victims’ cryptocurrency holdings.
The case, recently unsealed in court records, has revealed an elaborate scheme involving rental cars, Airbnb properties, and surveillance footage, with some suspects fleeing to China before arrests could be made.
The incident began when a man knocked on the door of one of the victims, claiming to have accidentally damaged their garage door.
As soon as the door opened, armed men stormed the home, seizing the victims, including a young man who just exited the shower.
They were transported to an Airbnb rental in Forest Park, where the suspects demanded cryptocurrency transfers under the threat of violence.
The victim was forced to conduct multiple transactions before the kidnappers gained full access to his accounts, eventually transferring $15 million in Bitcoin and Ethereum.
The victims were moved between locations during their captivity, confined to different rental properties.
Despite being threatened and one victim reportedly being struck with a gun, they were otherwise treated relatively well, even receiving food from fast-food restaurants such as McDonald’s.
The victims reported that their captors spoke both Mandarin and Spanish.
After five days in captivity, they were released and walked to a nearby dry cleaners, where they arranged for an Uber to take them to Northwestern Memorial Hospital.
Authorities quickly launched an investigation, analyzing surveillance footage from the Airbnb and nearby businesses.
Security footage from gas stations and restaurants helped the FBI identify the kidnappers, who were seen traveling in rental cars, including a white Ford van and a Chrysler Pacifica.
The FBI linked some suspects to the crime using DNA evidence, latent fingerprints, and receipts from retail stores.
One of the suspects, Zehuan Wei, was arrested on January 17 while attempting to re-enter the U.S. from Mexico at the Otay Mesa border crossing in California.
The remaining suspects, identified as Fan Zhang, Huajing Yan, Shengnan Jiang, Shiqiang Lian, and Ye Cao, are believed to have fled to China after Wei’s arrest.
The FBI discovered that Jiang and Yan boarded a flight from Tijuana to Beijing on January 19, followed by Lian the next day.
Despite the arrests and ongoing investigations, authorities report that approximately $9 million of the stolen cryptocurrency remains unaccounted for.
The FBI continues to track the movement of these funds and coordinate with international law enforcement agencies to apprehend the remaining suspects.
Interestingly, this week alone has seen the arrest of multiple Chinese individuals caught up in crypto crime-related activities.
On February 11, in a coordinated operation, Thai and Chinese authorities seized $2.5 million in cryptocurrency from two Chinese nationals, Ye Wanyou and Li Weijie, who were suspected of running a large-scale scam.
The suspects, residing in a luxury Bangkok property, attempted to destroy evidence during their arrest but were subdued.
Initial asset seizures amounted to $44,550, but further investigations uncovered hidden wallets containing 2.5 million USDT, which were promptly frozen.
The operation also exposed their involvement in human trafficking along the Thai-Myanmar border and fraudulent activities in Cambodia.
These cases make it clear that crypto-related crime is evolving beyond online scams and cyber theft.
The use of violence, international networks, and sophisticated tactics demonstrates that digital wealth is now a target both online and in the real world.
As authorities race to track stolen funds and apprehend fugitives, it’s becoming evident that securing crypto isn’t just about protecting private keys — it’s about staying ahead of threats that extend far beyond the blockchain.