Paris Crypto Kidnapping Ring Busted: 12 Arrested in High-Profile Cases

French authorities have dismantled a cryptocurrency-linked kidnapping ring, arresting over 12 suspects in coordinated raids. The group targeted high-net-worth individuals in Paris, including the father of a poker player and the daughter of Paymium CEO Pierre Noizat.

In one brutal case, kidnappers mutilated their victim while demanding a ransom of 5-7 million euros. A second attempted abduction was foiled by investigators. Police believe the organization recruited young accomplices through social media platforms, with several minors among those charged.

The arrests highlight growing security concerns around crypto wealth in Europe. While no specific cryptocurrencies were mentioned in the crimes, such incidents may prompt exchanges to enhance security measures for high-value accounts.