Missouri Men Charged in Bitcoin Extortion Plot Amid Bitcoin Price Surge

Three Missouri men, Sedric Louis, John Davis, and Martel Williams, have been charged by federal prosecutors for their alleged involvement in a Bitcoin extortion plot. The trio traveled to Connecticut between August 21 and 24, 2024, where they rented vehicles, obtained air rifles and walkie-talkies, and followed the intended target and his parents for two days.

The men allegedly planned to enter the family home, threaten the target, and force him to transfer stolen cryptocurrency into wallets controlled by coordinators. However, they abandoned the attempt after fearing that home-security cameras had recorded them.

A separate group from Florida arrived soon afterward and kidnapped the couple's parents on August 25. The attackers beat and restrained the couple before witnesses contacted police. Officers later rescued the victims after a pursuit and arrested the suspects.

Prosecutors say the couple's son participated in the theft of hundreds of millions of dollars in Bitcoin, with an estimated value of $245 million at the time. The wider case involves about 4,100 BTC. Participants allegedly used social engineering and posed as technology and cryptocurrency support staff to carry out the scheme.