France Summons Crypto Heavyweights as Kidnapping Risks Spike—Because Nothing Says ’Safe Asset’ Like a Ransom Demand
Crypto’s dark side rears its head again as French officials scramble to address a surge in targeted abductions of industry execs.
Paris plays host to emergency talks this week—because when Lambo-driving crypto bros become kidnapping targets, even regulators notice.
Bonus jab: At least the criminals understand crypto’s true use case—untraceable payments—better than most institutional investors.
High-profile crypto kidnappings
The government’s MOVE comes days after an attempted abduction involving the daughter and grandson of a French crypto executive.
Videos circulating on X showed three masked attackers confronting the victims, who sustained minor injuries. The assailants fled after the woman’s husband intervened, later abandoning their vehicle nearby.
A France24 report revealed that the intended victim is the daughter of the CEO and co-founder of Paymium, a prominent French crypto exchange.
Meanwhile, this incident is part of a broader pattern of physical attacks on crypto holders, often called “wrench attacks.” These involve using threats or violence to extract wallet access or force asset transfers.
One of the most disturbing cases in France involved Ledger co-founder David Balland and his partner, who were reportedly tortured and held for ransom. Balland had a finger severed during the ordeal.
Similar crimes have surfaced in the US, where prosecutors say three teenagers kidnapped a man in Las Vegas and stole $4 million in crypto and NFTs. The victim was later left in a remote part of the Arizona desert.
