French Authorities Nab Five in High-Stakes Crypto Kidnapping Case

Crypto crime takes a dark turn as French police dismantle a kidnapping ring tied to digital asset extortion.

Under the guise of a crypto deal, victims were lured into traps—only to find themselves at the mercy of armed assailants demanding ransom in Bitcoin. The suspects allegedly bypassed traditional financial surveillance, proving once again that where there’s a blockchain, there’s a way.

Law enforcement moved swiftly, cutting off the operation before more could fall prey. Yet, it begs the question: in a world where even kidnappers prefer hodling over cash, is this the ultimate bull case for crypto adoption?

Bonus jab: At least these criminals understood asset liquidity better than your average hedge fund.

French police arrest five in connection with crypto kidnap

According to prosecutors, the kidnappers also assaulted the man, dousing him in petrol before transporting him in the boot of the car, which was later abandoned about 435 miles away from his residence. His wife was found tied up in their home. The authorities mentioned that they started an investigation and were able to apprehend five people, taking them into custody on charges including kidnapping, aggravated assault, and armed robbery.

The prosecutors are yet to release the name of the crypto entrepreneur, noting that his success is well-known to the general public. Meanwhile, three of the adults have been placed in pre-trial detention. They mentioned that they have extensive criminal records, including for violence, theft, drug and currency trafficking, and possession of illegal firearms and other weapons. The minor also has a record of aggravated assault, according to the prosecutors.

This is not the first kidnapping or assault tied to people around the crypto industry in France this year. Some months ago, the kidnappers took the father of a millionaire who made a fortune in crypto. “The victim appears to be the father of a man who made his fortune in cryptocurrencies, with the crime involving a ransom demand,” the prosecutor’s statement said.

A source close to the investigation also mentioned that the kidnappers had already chopped off one of the father’s fingers. The kidnappers did that amid threats to inflict more bodily harm on the father. “There were fears of other mutilations if police had not raided the property”, the source said. The police eventually busted the location where he was taken, freeing the victim and taking him to the hospital.

The most popular kidnapping incident was the attempted kidnapping of the daughter and grandson of Paymium co-founder Pierre Noizat. The incident, which reportedly happened in daylight, involved masked criminals attempting to force the victims into a waiting van.

Police mentioned that a male partner was assaulted when he tried to intervene, with the daughter resisting before the assailants fled the scene. Police have since been working on the convictions of suspects arrested so far and have been trying to see if a LINK can be established between the incidents.

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