French police have arrested more than 12 individuals—some of them minors—in connection with two crypto-related kidnapping cases in Paris, according to a report by Le Parisien on May 26. The arrests come amid growing concerns over the safety of crypto entrepreneurs and their families in France.
Authorities Suspect Organized Criminal Network Behind Kidnappings
French investigators believe a criminal organization may be behind a recent surge in kidnapping attempts targeting individuals connected to the crypto sector. According to the report, social media platforms were allegedly used to recruit suspects, raising alarms over how vulnerable public crypto figures have become.
Among the recent incidents, an attempted abduction on May 13 saw three men allegedly try to kidnap the daughter and grandson of Pierre Noizat, the co-founder and CEO of the French crypto exchange Paymium. The attack, caught on video, was foiled after bystanders intervened, and Noizat’s daughter reportedly fought off the assailants.
Crypto Ransom Demands Range in the Millions
In a separate case earlier this month, the father of a crypto marketing entrepreneur was successfully rescued by French authorities after being kidnapped and held for a ransom between €5 million and €7 million. Six suspects tied to this incident have reportedly been identified and jailed, including the alleged kidnappers themselves.
This follows a January incident involving David Balland, co-founder of crypto hardware wallet maker Ledger, who was also kidnapped and held for a crypto ransom. Balland was later rescued in a police operation.
France Boosts Security for Crypto Executives
In response to the uptick in crypto-related crimes, France’s Interior Minister, Bruno Retailleau, announced a tightening of security protocols for crypto entrepreneurs and their family members. Executives are now taking private measures as well, with many reportedly hiring professional bodyguards to deter future threats.
A GitHub repository maintained by Jameson Lopp, a well-known cypherpunk and co-founder of Casa, lists six crypto ransom-related incidents in France this year alone, with half occurring in Paris.
Crypto Figures Increasingly Targeted in Europe
The spike in attacks has placed a spotlight on Europe’s need for stronger protective measures for individuals in the crypto and blockchain industry. As criminals turn their attention to high-profile crypto holders, ransom kidnappings are becoming an alarming trend requiring international law enforcement coordination.