Binance Founder Changpeng Zhao Sounds Alarm: France ’Going Downhill’ as Crypto Kidnappings Surge
Crypto kingpin Changpeng Zhao drops bombshell warning about France's deteriorating security landscape—just as digital asset abductions hit alarming new heights.
Security Crisis Escalates
Gone are the days of peaceful crypto adoption. France now grapples with organized gangs specifically targeting digital asset holders—home invasions, coordinated kidnappings, and brutal extortion schemes becoming frighteningly common.
Market Implications
While traditional finance regulators fret about paperwork compliance, actual criminals are bypassing bureaucracy entirely with physical threats. Nothing quite focuses the mind like having your family held at gunpoint for your private keys.
Global Ripple Effects
Zhao's warning serves as stark reminder: as crypto wealth becomes more visible, security protocols better evolve faster than criminal ingenuity—or we're all just walking leverage for someone else's trade.
Changpeng Zhao (CZ), the former CEO of Binance, has raised concerns about the state of France, saying the country has gone “downhill” in recent years. His remarks highlight growing unease around rising security risks, high-profile arrests, and increasing pressure on the crypto industry within the European Union’s second-largest economy.
Rising Crypto Kidnappings
One of CZ’s biggest concerns stems from the wave of cryptocurrency-related kidnappings that have gripped France. Earlier this year, Ledger co-founder David Balland was abducted from his home, with kidnappers demanding a €10 million ransom. Balland’s ordeal turned violent, with his captors severing one of his fingers before French security forces intervened.
The troubles didn’t stop there. In May, the father of a cryptocurrency millionaire was taken hostage, while in a separate incident, masked attackers attempted to abduct the daughter of Paymium CEO Pierre Noizat along with her child. Authorities have since charged around 25 people linked to these crimes and have rolled out new security protocols for crypto professionals.
High-Profile Arrests Add to Tensions
Beyond kidnappings, France also drew international attention after the controversial arrest of Telegram CEO Pavel Durov in August. The MOVE sparked debate about regulatory overreach in Europe and raised questions about the balance between law enforcement and privacy in the digital age.
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Adding to the tension, French regulators launched a probe into Binance itself in early 2025, signaling that scrutiny of the crypto industry remains intense. For CZ, these developments paint a picture of a nation struggling with both crime and regulation in the digital asset space.
Notre-Dame Reopens Amid Criticism
Interestingly, CZ’s comments came just as France celebrated the reopening of Notre-Dame’s twin towers. The restoration followed the devastating fire of 2019, with Binance among the early donors to the project. While CZ praised the reopening, saying he was glad to see the landmark restored, his overall tone remained cautious. He expressed hope that such cultural milestones could contribute to a safer and more united France, even if only in a symbolic way.
France’s dual reality is hard to ignore, on one hand, a proud moment with the restoration of one of Europe’s most iconic landmarks, and on the other, an unsettling wave of kidnappings and regulatory uncertainty. CZ’s critique underscores how intertwined crypto’s future has become with broader issues of governance, security, and trust in France’s role as a European leader.
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FAQs
Why is France facing a rise in crypto-related kidnappings?France has seen a surge in crypto kidnappings due to wealthy crypto holders attracting criminals seeking high ransoms.
What high-profile arrests have affected the crypto industry in France?Arrests like Telegram CEO Pavel Durov’s have raised concerns about privacy, regulation, and increased scrutiny of crypto businesses.
What measures are in place to protect crypto professionals in France?French authorities have introduced new security protocols for crypto executives after several high-profile abductions.
