Texas Brothers face Federal Charges in $8 Million Minnesota Cryptocurrency Kidnapping
GRANT, Minn. – Two Texas brothers are facing federal charges after a nine-hour kidnapping and robbery in Grant, Minnesota, where they allegedly forced a man to transfer $8 million in cryptocurrency. isiah Garcia and Raymond Garcia were charged federally and are scheduled to appear in court Thursday,according to the U.S. Attorney’s Office.
The incident began around 7:45 a.m. on Sept. 19, when the brothers allegedly forced their way into a home and bound a man, his wife, and son with zip ties. Raymond Garcia allegedly held the family hostage,armed with an AR-15-style rifle,securing the upstairs bedroom door with wire. Together, Isiah Garcia, armed with a shotgun, compelled the man to access his cryptocurrency wallet and transfer funds to an unknown account.
The brothers then forced the man to drive three hours to his family cabin in Jacobson,Minnesota,to transfer additional cryptocurrency from a separate hard drive-style wallet. The U.S. Attorney’s Office estimates the stolen cryptocurrency’s value at $8 million – considerably higher than the $72,000 initially cited in Washington County court documents.
Investigators believe the victim’s cryptocurrency account information may have been compromised in a prior data breach. Court records indicate the brothers were in frequent communication with an unidentified third party who directed the cryptocurrency transfers.
In addition to the federal kidnapping charges, the brothers also face state charges of kidnapping, first-degree burglary, and first-degree aggravated robbery.
