Georgia Man Charged in $230M Crypto-Linked Kidnapping Case
A massive cryptocurrency theft has taken a dark turn, leading to a kidnapping, ransom attempt, and multiple arrests.
James Schwab, a 22-year-old from Georgia, has been indicted for his alleged role in the August 2024 abduction of a Danbury couple—parents of an individual suspected of stealing $230 million in cryptocurrency.
This shocking case underscores the dangers of high-stakes crypto crime and the real-world consequences that can follow digital heists.
How the Kidnapping Unfolded
A Lamborghini, A Heist, and a Brutal Kidnapping
On August 25, 2024, six men from Florida violently carjacked a Lamborghini Urus before kidnapping its occupants—a Connecticut couple.
The victims’ son was suspected of being involved in a massive $230 million crypto theft, making them targets for ransom.
Authorities quickly linked the crime to organized efforts to recover stolen digital assets through illegal means.
James Schwab’s Alleged Role in the Plot
Investigators discovered that James Schwab had direct connections to the kidnappers and played a key role in facilitating the crime:
Previous Altercation: Schwab and the victim’s son had an argument at a Miami nightclub in July 2024—suggesting a prior connection.
Financial Backing: Schwab allegedly helped fund the operation, providing money for lodging, transportation, and other expenses.
Communication Evidence: Phone records and informant testimonies placed him in regular contact with the kidnappers in the days leading up to the crime.
These findings led authorities to charge Schwab as the seventh person involved in the kidnapping plot.
The Arrest & Legal Proceedings
James Schwab Caught at LAX
On January 29, 2025, authorities apprehended Schwab at Los Angeles International Airport (LAX) as he returned from Bali.
On February 25, 2025, a federal grand jury indicted him on one count of conspiracy to commit kidnapping—a charge that carries a maximum sentence of life imprisonment.
March 12, 2025: Schwab pleaded not guilty in Bridgeport federal court and has been detained ever since.
Co-Defendants Have Already Pleaded Guilty
The six Florida men initially arrested in August have all pleaded guilty and are awaiting sentencing.
One of the suspects, Michael Rivas (19, Miami), pleaded guilty in Hartford federal court to kidnapping and conspiracy charges.
With Schwab now in custody, investigators continue to explore links between the kidnapping and the cryptocurrency heist.
Crypto Crime – A Growing Threat?
This case highlights the rising risks associated with cryptocurrency wealth, including:
Targeted Crimes: Crypto theft is increasingly leading to violent attacks, kidnappings, and ransom attempts.
Tracing Crypto Transactions: Despite blockchain’s transparency, recovering stolen assets remains a challenge.
Legal Complexities: Authorities are now treating crypto-related crimes with severe legal consequences, including life sentences.
What’s Next?
With Schwab’s trial pending, investigators are working to:
Determine how much he knew about the larger crypto theft
Identify any remaining suspects
Track the stolen $230M in cryptocurrency
As the case unfolds, it serves as a stark reminder that crypto wealth isn’t just a digital asset—it can have real-world risks.
What Are Your Thoughts?
Should crypto holders be worried about security risks like this?
How can law enforcement better track stolen digital assets?
Do you think Schwab’s alleged involvement deserves a life sentence?
Drop your opinions in the comments!
