Roman and Anna Novak were kidnapped and murdered in the UAE in early October 2025 in a crypto extortion plot; their underage children were found alive in Dubai, and authorities have arrested multiple suspects, including a former Russian detective.
Novak Children Left Behind in a Crypto Extortion Crime
When the Novak couple disappeared on October 2, 2025, the focus quickly shifted to their underage children. Investigators report the couple was lured to a villa in Hatta, Dubai, under the pretense of discussing investments. There, a group of primarily Russian suspects kidnapped the Novaks, demanding access to cryptocurrency wallets connected to Roman Novak’s platform, Fintopio.
While their parents were killed, the children were placed in the care of one of the perpetrators. UAE authorities located the children unharmed in early November, and they were returned safely to relatives in Russia.
Obscured Trails and Investigative Challenges
Investigators said the perpetrators attempted to mislead authorities using the victims’ phone data. The Novaks’ phones continued pinging across Hatta, Oman, and Cape Town, South Africa, before going offline. Authorities believe this was a deliberate effort to create false trails and delay the rescue of the children.
Arrests and Investigation in Crypto Extortion Case
By November 7, UAE authorities had detained three suspects, while Russian police arrested others across several regions. Among those arrested is a 53-year-old former detective from St. Petersburg’s Vyborg district, dismissed in 2007 over a narcotics conviction and later imprisoned for 12 years. Russian authorities allege he directly participated in the murders.
The Russian Investigative Committee opened a case under Article 105 of the Criminal Code, focusing on murder of two persons. Extraditions from the UAE are being coordinated, and authorities continue to investigate whether the killings were purely for extortion or linked to broader fraud activities.
Novak and the Shadow of Fintopio
Roman Novak, convicted of large-scale fraud in 2020 in St. Petersburg, later fled to the UAE. He ran Fintopio, a cryptocurrency platform promising rapid transfers, and falsely claimed connections to Telegram executives and wealthy investors. Investigators report he allegedly defrauded global investors of an estimated $500 million.
Chain Street’s Take
The Novaks’ case underscores the deadly intersection of unregulated crypto schemes and organized crime. While authorities successfully rescued the children, the investigation highlights ongoing risks for investors and families in high-stakes cryptocurrency markets.
