Saif Faiq, involved in a 2024 Bitcoin-related kidnapping plot, has pleaded guilty to conspiracy charges in a Connecticut federal court. The U.S. Department of Justice announced that Faiq faces up to 20 years in prison, with sentencing set for August 28. Faiq and his brother, Adam Iza, orchestrated the kidnapping of a crypto millionaire's parents for extortion, recruiting six individuals from Florida to execute the plan. The group hijacked a Lamborghini Urus in Danbury, Connecticut, and assaulted its owner as part of the scheme. The victims were the parents of Veer Chetal, who had previously stolen 4,100 Bitcoins through a social engineering scam. Chetal, who flaunted his wealth in Miami, pleaded guilty to theft last November and is awaiting sentencing. Both Faiq and Iza have admitted to conspiracy charges.