Bitcoin kidnapping case adds eighth guilty plea

Saif Faiq, a 22-year-old from St. Louis, has pleaded guilty to his role in an attempted bitcoin robbery and kidnapping scheme linked to the theft of hundreds of millions of dollars worth of cryptocurrency.

Federal prosecutors said Faiq entered the plea in Hartford, Connecticut, admitting to conspiracy to interfere with commerce by robbery, also known as Hobbs Act robbery, which carries a maximum prison sentence of 20 years.

“The investigation revealed that the kidnapping victims are the parents of an individual who participated in the theft of hundreds of millions of dollars in bitcoin,”

The U.S. Attorney’s Office for the District of Connecticut said.

According to court documents, the case stems from an August 2024 incident in Danbury, Connecticut, where six Florida men were arrested following the violent carjacking of a Lamborghini Urus and the kidnapping of two occupants.

Prosecutors alleged that Faiq helped organise the attempted robbery, travelled to Connecticut for the planned home invasion, recruited participants and conducted surveillance of the victims alongside co-conspirators.

“In an attempt to steal some of that Bitcoin, Faiq and others planned and coordinated the attempted robbery and ultimately the kidnapping,”

The U.S. Attorney’s Office said.

Faiq has remained in custody since his arrest in November 2025, while his brother, Adam Iza, pleaded guilty to the same charge on June 1 and is also awaiting sentencing.

At the time of reporting, Bitcoin price was $65,669.47.