Policy and Regulation

1 days agoNews Editor

Two Texas brothers sentenced after armed kidnapping that forced a Minnesota family to hand over more than $8 million in crypto

Federal prosecutors in Minnesota said two brothers from Waller, Texas, have been sentenced for their roles in an armed kidnapping and crypto extortion case tied to an attack on a family in Grant, Minnesota. According to an announcement by U.S. Attorney Daniel N. Rosen and details in court filings, Raymond Christian Garcia and Isiah Angelo Garcia traveled from Texas to Minnesota on Sept. 19, 2025. Prosecutors said they entered the victims’ home with firearms, restrained family members with zip ties, and held them at gunpoint for more than nine hours while demanding access to cryptocurrency accounts. Court records said the brothers did not obtain the amount they wanted at the house. They then forced the victim to drive to the family’s vacation property in northern Minnesota, where additional crypto storage devices were retrieved and funds were transferred. The victim was ultimately forced to send more than $8 million in cryptocurrency. After the victims’ son contacted police, the two men fled. Law enforcement later identified and arrested them near Houston, Texas. The brothers pleaded guilty in June 2026 and were sentenced on Oct. 29. Raymond Christian Garcia received 180 months in prison, while Isiah Angelo Garcia was sentenced to 186 months.

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UK

12 days agoNews Editor

Three Men Jailed in UK After Failed Home Invasion Targeting Crypto Holder

Three men have been jailed after forcing their way into a man’s home in Bristol, England, assaulting him, and demanding a large amount of cryptocurrency, according to Avon and Somerset Police. The attack took place in the early hours of May 15. The victim suffered a serious head injury that required hospital treatment, while his teenage sister alerted police, leading to the arrest of all three suspects at the scene. The men—Terroll Paul, 31, Mohamed Samagassi, 37, and Pierre Madzou, 30—pleaded guilty to aggravated burglary in August and were sentenced at Bristol Crown Court on October 15. Paul was given six years in prison, Madzou five and a half years, and Samagassi five years. Police said the sister’s actions prevented further harm to the victim. The case adds to a string of so-called “wrench attacks” in the UK, where criminals physically target crypto holders. Decrypt noted that similar incidents have surfaced in recent months, while blockchain security firm CertiK said such attacks caused $124 million in losses globally in the first half of 2026, up twelvefold from a year earlier.

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UK

3 months agoNews Editor

Three Men Jailed in UK After Posing as Police in $5.3 Million Crypto Fraud

Three men have been sentenced in the UK over a £4 million ($5.3 million) cryptocurrency fraud scheme that relied on impersonating police officers to trick victims into surrendering control of their digital assets. According to a statement from the Metropolitan Police, the group contacted eight victims, falsely warned that their crypto was at risk, and persuaded them either to share account details or move funds into what were presented as secure police-controlled accounts. The assets were then stolen and routed through a laundering network. At Southwark Crown Court, Anthony Ikenwe, 29, and Kevin Nwamma, 25, each received six years for conspiracy to commit fraud and five years for money laundering, with the terms running concurrently. Hamza Bashir, 23, was sentenced to three years and nine months for fraud and three years for laundering, also to run concurrently. Investigators said the men used fake police websites, spent proceeds on luxury goods and travel, and kept large amounts of cash and crypto linked to the case. Police say the investigation remains ongoing as they work with domestic and international partners to identify additional suspects and recover more assets for victims.

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Bit.Fan