A disturbing wave of kidnappings and violent attacks targeting cryptocurrency owners and their families has been escalating globally, with several high-profile cases emerging in recent months. Criminal groups are abducting crypto investors, executives, and influencers, demanding hefty ransoms paid in digital currencies. These perpetrators operate with calculated precision, often using encrypted messaging platforms to negotiate and enforce their demands.
Recent Incidents in France Highlight Growing Threat
France has become a hotspot for these violent crimes, with multiple kidnappings reported this year involving crypto entrepreneurs and their relatives. In one notable case, the father of a prominent crypto investor was abducted on a Paris street, held captive for two days in a suburban location, and subjected to brutal torture, including the severing of a finger. The kidnappers sent a graphic video to the victim’s son demanding millions of euros in ransom paid in cryptocurrency before French police successfully rescued him and arrested several suspects aged between 20 and 30.
Earlier this year, David Balland, co-founder of the crypto wallet company Ledger, and his wife were kidnapped from their home in central France. The assailants separated the couple, held them in different locations, and mutilated Balland’s hand. A ransom demand of €10 million in cryptocurrency was sent to the company, but police intervention led to their release and the arrest of multiple suspects.
On May 13, an armed gang attempted to kidnap the daughter and grandson of a well-known French crypto entrepreneur in central Paris. The attempt was thwarted by a neighbor’s intervention, but it underscores the brazen nature of these attacks, often carried out in broad daylight in affluent neighborhoods.
Global Pattern of Crypto-Related Violence
This pattern of violence is not confined to France. Similar kidnappings and attacks have been reported worldwide, including cases in Latin America and Canada. Criminals are drawn to cryptocurrency due to its speed, anonymity, and difficulty to trace, making it an ideal currency for ransom and extortion. In one tragic incident in Argentina, a crypto millionaire influencer was found murdered and dismembered, highlighting the extreme risks faced by high-net-worth crypto holders.
Authorities Respond with Increased Security Measures
The French government has acknowledged the severity of the threat and is coordinating with cryptocurrency sector leaders to enhance security protocols. The Interior Minister has pledged to combat organized crime networks responsible for these kidnappings, which often mimic tactics seen in Latin America, including torture and mutilation to coerce ransom payments.
