French authorities have arrested more than 12 individuals, including several minors, in connection with two recent high-profile kidnapping cases believed to be linked to cryptocurrency, according to a report by Le Parisien on May 26.
The suspects face a range of serious charges, including kidnapping, attempted kidnapping, and criminal conspiracy. Investigators suspect the involvement of an organized criminal group, allegedly using social media platforms to recruit participants for these crimes.
Targeting crypto figures and their families
One of the incidents occurred on May 13 as reported by Coin Headlines earlier, when three men reportedly attempted to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of French crypto exchange Paymium. The attempted abduction, which happened in broad daylight on a Paris street, was captured on video by witnesses. The attempt was foiled when Noizat’s daughter resisted and bystanders intervened.
In another disturbing case earlier this month, the father of a crypto marketing entrepreneur was kidnapped and held for ransom, with demands reportedly ranging from €5 million to €7 million. French police were able to successfully rescue the victim. Six individuals have been identified and imprisoned in connection with this incident, including the alleged kidnappers.
Pattern of crypto-driven crimes
These incidents follow a string of crypto-related kidnappings in France. Earlier this year, David Balland, co-founder of crypto hardware wallet firm Ledger, was abducted from his home. The kidnappers allegedly demanded cryptocurrency as ransom. Balland was rescued days later by French police.
A GitHub page maintained by Jameson Lopp, cypherpunk and co-founder of the self-custodial firm Casa, documents at least six crypto-related ransom incidents in France this year alone—three of which occurred in Paris.
Security crackdown and industry response
In response to the rising threats, French Interior Minister Bruno Retailleau ordered heightened security measures for crypto entrepreneurs and their families. This includes increased surveillance and protective resources aimed at shielding high-profile individuals in the crypto sector.
Meanwhile, crypto executives are taking matters into their own hands by ramping up private security. Many have begun hiring professional bodyguards as a deterrent to criminal targeting, marking a growing trend in the industry’s response to physical threats.
