Two Charged For Attempting To Steal Millions Of Dollars In Bitcoin

Two men have been arrested in Virginia for allegedly trying to break into a Westchester County home to steal tens of millions of dollars in Bitcoin BTC/USD, according to the U.S. Department of Justice.

What Happened: According to the court documents, between May 18, 2020 and May 24, 2020, the accused Dominic Pineda and Shon Morgan participated in a plan to break into a home and rob its residents of cash and cryptocurrency.

“As alleged in the indictment, the defendants participated in a violent plan to break into a family’s home in the middle of the night and force its residents to provide the code to what the defendants believed was tens of millions of dollars in Bitcoin currency. Thanks to the work of the FBI, the defendants will now be held responsible for the alleged acts,” said  Damian Williams, U.S. Attorney for the Southern District of New York.

The indictment was unsealed last Friday in White Plains, New York, federal court, where the case will be handled.

What's Next: If convicted, the accused face a maximum term of 20 years in prison.

Bitcoin was trading at around $10,000 at the time when the accused were allegedly planning to commit the robbery. The world’s largest digital currency by market capitalization then peaked to reach an all-time high of $68,892 in November 2021.

BRC Price Action: BTC is down 2.93% and is currently trading at $20,287.52 on Tuesday afternoon, according to data from Coinmarketcap.

Photo: Christian Delbert via Shutterstock