French Police Smash Paris Crypto Kidnapping Ring – 12 Suspects in Custody

Parisian authorities just delivered a masterclass in shutting down crypto-fueled crime. A brazen kidnapping ring—targeting high-net-worth individuals in the digital asset space—has been dismantled with a dozen arrests.

No more ’proof-of-stake’ for these guys: The suspects now face the ironclad consensus mechanism of French justice. Victims were reportedly held for ransom paid in untraceable cryptocurrencies—because nothing says ’modern crime’ like demanding Monero at gunpoint.

While the arrests clean up one dark corner of crypto’s wild west, let’s not pretend this fixes crypto’s PR problem. Traditional finance might be slow, but at least your banker won’t duct-tape you to a chair over some misplaced Bitcoin keys.

TLDR

• French police arrested over 12 suspects in connection with two crypto-related kidnapping cases in Paris
• One case involved the kidnapping and mutilation of a poker player’s father with ransom demand of 5-7 million euros
• Another case was a failed kidnapping attempt targeting the daughter of Paymium CEO Pierre Noizat
• Investigators believe a criminal organization recruits young people through social media for these crimes
• Several minors were among those arrested and charged with kidnapping and criminal conspiracy

French authorities have arrested more than 12 people linked to two high-profile cryptocurrency kidnapping cases in Paris.

The arrests were made during coordinated raids conducted by the Brigade for the Suppression of Banditry on Monday morning.

The suspects face charges including kidnapping, attempted kidnapping, and criminal conspiracy. Several minors are among those arrested and placed in custody.

Investigators believe the two cases are connected through a criminal organization that recruits young people via social media networks. The organization appears to use interchangeable operatives for different missions while the masterminds remain hidden behind pseudonyms.

The first case occurred on May 1st when four masked men kidnapped the father of a wealthy poker player and crypto entrepreneur. The victim was forced into a stolen delivery van disguised with UPS markings in Paris’s 14th district.

The kidnappers demanded between 5 and 7 million euros in cryptocurrency transfers for the man’s release. To pressure the son, they cut off one of the father’s fingers and filmed the act.

Rescue Operation and Arrests

Police located and rescued the victim from a hideout in Palaiseau after conducting phone investigations. The operation was coordinated by multiple units including the Paris Criminal Brigade.

Six suspects in this case have already been identified, charged, and imprisoned. These individuals were born in Algeria, Réunion, Le Chesnay, and Levallois-Perret, showing the diverse recruitment network.

The second incident happened on May 13th in broad daylight NEAR a school in Paris’s 11th district. Three masked and armed men attempted to kidnap a 34-year-old woman from Rue Pache.

The attackers arrived in a van marked with Chronopost branding. Bystanders witnessed the shocking scene as the woman fought back against her attackers.

Failed Kidnapping Attempt

A young man with a fire extinguisher intervened heroically to help the victim. The woman’s partner was also beaten multiple times during the struggle.

The kidnappers fled after losing what appeared to be a handgun during the scuffle. They escaped by jumping into the back of their van.

The target was later identified as the daughter of Pierre Noizat, CEO and co-founder of Paymium, a cryptocurrency exchange platform. No arrests had been made in this case until Monday’s operation.

These cases follow another crypto kidnapping earlier this year involving David Balland, co-founder of hardware wallet Maker Ledger. Balland was rescued by French police after being held for days.

French Interior Minister Bruno Retailleau increased security measures for crypto entrepreneurs and their families following these attacks. Industry executives have also hired professional bodyguards for protection.

A tracking page maintained by security expert Jameson Lopp shows six crypto-related criminal incidents in France this year, with half occurring in Paris.