Bitcoin Kidnapping Scheme Organizer Saif Faiq Pleads Guilty, Faces Up to 20 Years in Prison

According to the U.S. Department of Justice, Saif Faiq, one of the organizers of a bitcoin-related kidnapping scheme, pleaded guilty to conspiracy charge on Monday in a Hartford, Connecticut federal court. He faces up to 20 years in prison and is scheduled to be sentenced on August 28.

In 2024, Faiq and his brother Adam Iza organized a plan to kidnap the parents of a crypto millionaire for extortion. Faiq recruited six men from Florida, arranged their travel to Connecticut, and coordinated a home invasion. The six men carjacked a Lamborghini Urus in Danbury, Connecticut in broad daylight, surrounding the vehicle with a van, pulling occupants out, and beating them with a baseball bat. Faiq has been detained since his arrest on November 12, 2025. His brother pleaded guilty to conspiracy to interfere with commerce by robbery on June 1.