Mastermind behind the $245 million bitcoin theft admits to orchestrating a kidnapping plot
According to Odaily, California cryptocurrency executive Adam Iza admitted on Monday to orchestrating a failed kidnapping plot targeting the parents of Veer Chetal. The case is connected to a previous $245 million Bitcoin theft involving Veer Chetal.
Adam Iza, aged 25 and also known as Ahmed Faiq, previously operated the crypto trading company Zort and referred to himself as “The Godfather.” Veer Chetal and two others impersonated Google and crypto exchange tech support staff to steal 4,100 Bitcoin—worth approximately $245 million at the time—from Washington residents. Adam Iza and associates attempted to obtain a portion of the stolen funds by kidnapping Veer Chetal’s parents. Additionally, Adam Iza admitted to stealing over $37 million by fraudulently accessing Meta’s business manager accounts and credit lines between 2020 and 2022. Federal prosecutors are seeking a minimum sentence of 14 years in prison. (fortune)
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