#Los Angeles man robs millions in cryptocurrency#
Hot Topic Overview
Overview
Two Los Angeles men recently attempted to steal over $100 million in cryptocurrency through a home invasion, but their plan failed and they were arrested. One of the men, who called himself the “Crypto Godfather,” was a Los Angeles County Sheriff’s deputy. They used intimidation, extortion, and tax fraud, and leveraged the deputy’s authority to obtain search warrants and victim information, in an attempt to steal a laptop believed to contain $100 million in cryptocurrency. The victim ultimately shot at them, stopping their actions. Both men have now pleaded guilty and are facing a maximum of 35 years and 13 years in prison, respectively.
Ace Hot Topic Analysis
Analysis
Los Angeles man Adam Izad and Los Angeles County Sheriff's Deputy Eric Chase Saviedra have pleaded guilty to attempting to steal over $100 million in cryptocurrency through home invasion robbery. Izad, who calls himself "The Crypto Godfather," conspired with Saviedra in a series of criminal activities, including intimidation, extortion, and tax fraud. Saviedra used his position to illegally obtain search warrants and provide Izad with confidential information about "enemies," aiding him in committing crimes. The pair once tracked down a victim's location, attempting to steal a laptop believed to contain $100 million in cryptocurrency, but the plan failed when the victim fired a gun. Ultimately, Izad faces a maximum of 35 years in prison, while Saviedra could be sentenced to 13 years. The incident exposed security vulnerabilities in the cryptocurrency space and serves as a warning for individuals to increase their security awareness in the digital asset realm to avoid becoming targets of criminals.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Cryptocurrency crime is on the rise, and there is a need for increased regulation and enforcement.
Corruption within law enforcement is a major factor in cryptocurrency crime.
The anonymity and ease of transfer of cryptocurrencies make them an ideal tool for criminals.
Criminals are using violence to obtain cryptocurrencies, posing a threat to personal safety.