Bitcoin Theft Mastermind Adam Iza Admits to Plotting Kidnapping, Faces 14-Year Sentence

According to ChainCatcher, Adam Iza, a 25-year-old California cryptocurrency executive, admitted on Monday to plotting a kidnapping scheme targeting the parents of Veer Chetal, who was involved in a $245 million Bitcoin theft. Iza and his associates attempted to extort part of the stolen funds through the kidnapping. Iza and two others had stolen 4,100 BTC from a Washington resident by impersonating Google and cryptocurrency exchange support staff.

Iza also confessed to defrauding Meta's business manager accounts and credit lines between 2020 and 2022, stealing over $37 million. Federal prosecutors are seeking at least 14 years imprisonment.