Teens face felony charges after 600-mile drive to allegedly attempt a $66 million crypto robbery: reports

Two California high school students face felony charges after allegedly driving more than 600 miles to carry out a violent home invasion in Scottsdale, Arizona, targeting a family they believed to be holding $66 million in cryptocurrency, according to court documents first reported by FOX 10 Phoenix.

The teens, aged 16 and 17 and both from San Luis Obispo County, arrived at a home in Scottsdale's Sweetwater Ranch neighborhood on the morning of Jan. 31 dressed in FedEx-style uniforms, The Tribune reported. They allegedly forced their way inside, restrained two adults with duct tape, and assaulted them while demanding cryptocurrency. One victim denied having any crypto, which reportedly led to further violence.

An adult son elsewhere in the home called 911. When police arrived, they found a woman screaming and a man struggling with one of the suspects. The teens fled in a blue Subaru and were caught at a dead end shortly after, according to court documents. Officers recovered UPS-style clothing, zip ties, duct tape, and a 3D-printed gun at the scene, though the gun contained no ammunition and it's unknown whether it worked. 

Both teens were initially held in a Maricopa County juvenile detention facility and are slated to be tried as adults. They each face eight charges, including kidnapping, aggravated assault, and second-degree burglary. The 17-year-old faces an additional charge of unlawful flight from law enforcement. Both were released on $50,000 bail with ankle monitors, FOX 10 reported.

The younger teen told police in a post-arrest interview that the two had met only recently and claimed they were "extorted" into participating by individuals they knew only as "Red" and "8" on the Signal encrypted messaging app. He said the older teen asked him if he wanted to go to Scottsdale to "tie people up to get $66 million in cryptocurrency," court documents reportedly state.

Their Signal contacts provided the victims' address and $1,000 to buy supplies, including disguises and restraints, which they allegedly purchased at Target and Home Depot. They also stole a license plate from a similar vehicle before the break-in, the documents say.

One of the teens' mothers had tried to intervene after discovering text messages about the plot on her son's phone, Fox News reported. She contacted California police, who relayed the tip to Scottsdale, but officers arrived only after the home invasion had already occurred.

Uptick in violent crypto-related crime

The case bears hallmarks of an emerging pattern in which anonymous figures recruit teenagers via encrypted messaging platforms to carry out violent crypto heists. In May, two 16-year-olds from Florida were charged with 22 felonies after allegedly kidnapping a man at gunpoint following a Las Vegas crypto event, driving him to a remote Arizona desert, and stealing $4 million in digital assets. In that case, prosecutors said a fourth person appeared to be directing the teens via speakerphone.

The Scottsdale incident is the first wrench attack of 2026 in the United States logged in a public database of physical attacks on crypto holders maintained by security researcher Jameson Lopp. All 10 prior entries for 2026 occurred in France, Belgium, and the Philippines. Lopp recorded approximately 70 wrench attacks in 2025, up from roughly 41 in 2024. 

Experts have attributed the rise in part to corporate data breaches that expose customers' personal details. In this publication's year-end analysis, The Block reported that the 2025 Coinbase breach, in which rogue customer service representatives accessed KYC data for many users, has been cited by security professionals as a factor putting additional targets in criminals' sights. TRM Labs' Ari Redbord told The Block in January that the true number of wrench attacks is "likely significantly higher" than documented, as many are logged as ordinary robberies.

The Scottsdale home invasion occurred the same day Nancy Guthrie, the 84-year-old mother of NBC "Today" co-host Savannah Guthrie, was last seen at her Tucson home roughly two hours away. In Guthrie's case, TMZ reported receiving a ransom note demanding millions in cryptocurrency be sent to a Bitcoin address. Authorities have not connected the two cases. The FBI has since arrested a California man on charges of sending fake Bitcoin ransom demands to the Guthrie family in what officials called an unrelated attempt to exploit the situation, Fox News reported.