- Three men from Tennessee were federally indicted for conspiracy, robbery, and kidnapping charges related to a multi-million dollar cryptocurrency theft scheme.
- Prosecutors allege the group posed as delivery persons to gain access to victims’ homes in California, using firearms to force cryptocurrency transfers.
- In one November incident, a victim was pistol-whipped and bound before being forced to transfer $13 million worth of Bitcoin and Ethereum.
- The case reflects a global surge in physical “wrench attacks” targeting crypto holders, with 72 verified incidents reported in 2025.
Three Tennessee men were federally indicted this week for a violent, multi-million dollar cryptocurrency theft operation that spanned California. According to a press release from the U.S. Department of Justice, Elijah Armstrong, Nino Chindavanh, and Jayden Rucker traveled from Tennessee to target victims in San Francisco, San Jose, Sunnyvale, and Los Angeles.
The men allegedly posed as delivery persons to gain entry, then used firearms, duct tape, and zip ties to assault and restrain victims. Consequently, they forced victims to disclose their cryptocurrency account information and transfer assets. In one November incident detailed by prosecutors, a San Francisco victim expecting a package was approached by a robber carrying a white box.
The victim was bound, pistol-whipped, and threatened before being forced to transfer $10 million in Bitcoin and $3 million in Ethereum. Another incident cited by officials saw $6.5 million in cryptocurrency stolen at gunpoint. United States Attorney Craig H. Missakian said “The scheme was not only sophisticated, it was brazen, violent, and dangerous.”
Meanwhile, this case highlights a broader global trend of physical “wrench attacks” on cryptocurrency holders. According to data from Cybersecurity firm CertiK, 72 verified incidents occurred globally in 2025, representing a 75% increase from the previous year. Law enforcement worldwide is cracking down on such attacks, including a case in France where 88 people were charged over a string of crypto kidnappings.
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