Two Texas brothers have been federally indicted after allegedly kidnapping a Minnesota family and stealing $8 million in cryptocurrency.
The incident drew national attention amid rising crime involving digital assets. Authorities affirm that brothers Raymond Christian Garcia, 23, and Isiah Angelo Garcia, 24, used weapons, coercion, and knowledge of cryptocurrency to carry out a serious kidnapping in the United States.
According to federal documents, the Garcia brothers allegedly held three family members hostage for nine hours. The incident occurred in Grant, Minnesota, on 19 September. Local schools suspended operations while authorities investigated.
"These crimes illustrate the emerging risks when large cryptocurrency holdings intersect with physical threats," said Minneapolis FBI Special Agent in Charge Alvin M. Winston, Sr.
Seizure of Person and Crypto Transfer
During the ordeal, Isiah Garcia allegedly forced his father to transfer large cryptocurrencies into a wallet controlled by Raymond Garcia. They also discovered additional funds on a separate hard drive in a cabin three hours away. One brother held the family hostage at gunpoint with an AR-15-style rifle, while the other escorted his father to the cabin to retrieve the hard drive and transfer the crypto remaining.
The family was able to contact 911 as soon as the opportunity arose. Investigators tracked the suspects through surveillance footage, a fast-food restaurant receipt and rental car records, following the trail to the brothers' residence in Waller, Texas. Upon arrest, Isiah Garcia reportedly admitted involvement.
The case highlights the growing security challenges related to digital currencies. The Minnesota incident is not isolated: similar crimes have occurred across the country.
In May, a man in New York was held captive for weeks and forced to surrender his cryptocurrency. In addition, in November 2024, two teenagers in Las Vegas allegedly forced a victim to surrender $4 million in cryptocurrency.
Acting United States Attorney Joseph H. Thompson stressed that the violence poses "a direct threat to community safety" and called for vigilance as cryptocurrency-related crimes rise nationwide.
The Garcia brothers face federal and state charges, including kidnapping, first-degree burglary and aggravated robbery. They face lengthy prison sentences if convicted.
