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A Florida man has pleaded guilty in federal court on Thursday to charges of kidnapping and conspiracy related to a Bitcoin heist investigation.
The case involved the abduction of a couple in Danbury, Connecticut. Meanwhile, it has drawn national attention due to its potential connection to a $240 million crypto heist. The defendant, Michael Rivas, was one of six suspects involved in what authorities described as a failed ransom plot targeting the couple’s son.
During Thursday’s court proceedings, he admitted his involvement in the plot, which he claimed stemmed from a co-defendant’s vendetta. The sentencing guidelines agreed upon by both parties recommend a prison term of 11 to 14 years, with sentencing scheduled for May 13.
A Failed Ransom Plot and Brutal Assault
The August 25 incident began when the suspects, traveling in multiple vehicles, forced a couple out of their Lamborghini SUV. Authorities reported that the suspects assaulted the man with a baseball bat and dragged the woman by her hair before binding both victims with duct tape and forcing them into a van. The suspects intended to demand a ransom from the couple’s son, who they believed had access to substantial cryptocurrency holdings.
The plot unraveled quickly as witnesses alerted local police. Four of the six suspects were apprehended after abandoning their vehicles and fleeing on foot. The remaining two suspects were arrested later at a nearby Airbnb rental property. Although injured during the incident, the couple survived and received medical attention.
Crypto Heist Raises Suspicions
Authorities have not publicly confirmed a direct link between the Danbury kidnapping and a recent $240 million cryptocurrency theft. However, federal investigators are probing potential connections.
A week before the kidnapping, hackers posing as technical support staff for a cryptocurrency exchange stole over 4,100 Bitcoin from a Washington, D.C., victim. Prosecutors alleged that the thieves gained remote access to the victim’s computer through a fraudulent security breach claim.
Two suspects, Malone Lam and Jeandiel Serrano, have been charged in the cryptocurrency theft case. Both allegedly used the stolen funds for extravagant purchases, including luxury cars, mansions, and high-end watches.
Notably, Lam spent hundreds of thousands of dollars at Los Angeles nightclubs and acquired multiple custom vehicles. Authorities estimate at least $100 million of the stolen funds remain unaccounted for.