Miami IT Worker Arrested In $1.9 Million Bitcoin Theft From Former Boss

A Miami man was arrested on felony charges including grand theft, money laundering, unlawful use of a communications device, and offenses against computer users. The victim began buying Bitcoin in December 2017 and hired the man, a trusted employee and IT specialist, to set up and secure a hardware wallet. By January 2018, the wallet held more than $217,000 in Bitcoin and was locked in a safe at the victim’s home. In July 2025, during a move, the victim opened the safe and found the wallet empty. Investigators determined the theft occurred in 2020 and that the holdings had grown to more than $1.9 million. The wallet seed phrase was known only to the victim and the suspect, and bank records matched deposits to withdrawals from the Bitcoin wallet.

"Nahum Reynaldo Castro, 40, was arrested Tuesday on charges of grand theft, money laundering, unlawful use of a communications device, and offenses against computer users, according to an arrest report obtained by NBC 6."

"The case stretches back to December 2017, when the victim began purchasing Bitcoin as a long-term investment. He bought a hardware wallet to store the digital currency, and turned to Castro - a trusted employee since 2013 and an IT specialist - to handle the wallet's setup and security, the report said."

"By the end of January 2018, Castro had secured more than $217,000 worth of Bitcoin on behalf of his employer. The hardware wallet was then locked in a safe inside the victim's home, where it remained untouched for years. That changed in July 2025. While in the middle of a move, the victim opened the safe and accessed the wallet - only to find it empty."

"Central to the investigation was the wallet's seed phrase - a master recovery key that grants full access to a cryptocurrency wallet. According to the report, only two people had knowledge of that phrase: the victim and Castro. Bank records proved critical in building the case. Deposits into Castro's accounts aligned with withdrawals from the Bitcoin wallet, providing investigators with the financial corroboration needed to connect him to the theft."

Read at Bitcoin Magazine