A 19-year-old Florida man, Michael Rivas, pleaded guilty on Thursday in connection with the violent carjacking and kidnapping of a Connecticut couple, a crime that authorities believe may be linked to a staggering $240 million cryptocurrency theft.
The incident occurred on August 25 in Danbury, Connecticut, when Rivas and five others orchestrated a ransom plot targeting a couple driving a Lamborghini SUV. According to police, the suspects forced the couple from their vehicle, assaulted them, and transported them in a van, binding them with duct tape. Quick-thinking witnesses alerted police, leading to the arrest of four suspects after they abandoned their vehicles and fled on foot. The remaining two were apprehended at a rented Airbnb property nearby. Despite their injuries, the couple survived the ordeal.
During his court appearance in Hartford, Rivas, dressed in a tan prison uniform and shackled, expressed regret for his involvement. “It was a dumb decision to help one of my co-defendants carry out what he called a vendetta,” Rivas said, without offering further explanation.
A Plot Fueled by Cryptocurrency Wealth
Authorities revealed that the suspects targeted the couple because they believed the victims’ son had access to significant digital currency holdings. Court documents suggest the group planned to demand a ransom, to be paid in cryptocurrency, from the son.
The kidnapping occurred just one week after a sophisticated cyber heist netted over 4,100 Bitcoin—valued at $240 million at the time. The stolen cryptocurrency has since appreciated to nearly $380 million. Federal prosecutors suspect a possible connection between the kidnapping and the crypto theft but have not publicly confirmed any direct links.
Danbury Detective Sgt. Steven Castrovinci disclosed that the FBI was investigating whether the couple’s son had any involvement in the Bitcoin theft. Federal officials and Danbury police have not named the victims or their son, and Assistant U.S. Attorney Ross Weingarten declined to comment after Thursday’s hearing.
Crypto Heist and Lavish Spending
The Bitcoin theft, carried out by suspects posing as technical support staff, allowed the thieves remote access to a victim’s computer on August 18. According to court filings, they exploited this access to steal the cryptocurrency. The suspects, including Malone Lam, 20, and Jeandiel Serrano, 21, spent lavishly, acquiring luxury cars, mansions, and expensive watches.
Serrano admitted to using the stolen funds to purchase three vehicles worth over $1 million and a $500,000 watch. He also revealed that he had $20 million of the stolen cryptocurrency and agreed to transfer it to the FBI. Lam, a Singaporean citizen with addresses in Los Angeles and Miami, reportedly spent hundreds of thousands of dollars a night at clubs and acquired multiple luxury vehicles, including a Lamborghini Revuelto valued at more than $1 million.
Despite these arrests, federal prosecutors estimate that at least $100 million of the stolen funds remain unaccounted for.
Sentencing and Legal Proceedings
Rivas and his co-defendants face state kidnapping and assault charges in Connecticut, with additional federal charges looming. Sentencing for Rivas is scheduled for May 13, with prosecutors and defense attorneys agreeing on guidelines recommending 11 to 14 years in prison.
“This is not what my parents taught me growing up,” Rivas told the court, expressing remorse. “I should have known better.”
The case underscores the growing intersection between traditional crimes and cryptocurrency, highlighting the challenges law enforcement faces in tracking and addressing digital asset-related crimes.
