Two American brothers arrested for kidnapping and extorting $8 million in cryptocurrency

ChainCatcher reported that a major cryptocurrency extortion case occurred in Minnesota.

Raymond Garcia, 23, and his brother Isiah Garcia, 24, kidnapped a family of three at gunpoint on September 19, forcing the victims to transfer cryptocurrency worth $8 million. The two suspects were arrested in Texas on September 22 and have now been charged by federal prosecutors with multiple offenses, including kidnapping, first-degree robbery, and burglary.