Crypto Crime Crackdown: French Authorities Nab 12 in Kidnapping Ring Tied to Digital Assets
Paris just delivered a masterclass in blockchain forensics—turns out decentralized ledgers aren’t so anonymous when Interpol’s involved.
The Bust
French police swooped in on a crypto-linked kidnapping syndicate, arresting a dozen suspects who allegedly demanded ransom payments in Monero—because nothing says ’untraceable’ like leaving a trail of encrypted breadcrumbs.
Why It Matters
While DeFi degens chase the next 100x shitcoin, actual criminals keep proving that cold hard cash has nothing on privacy coins for illicit deals. Bonus lesson? Always check your multisig wallet for cop signatures.
The Ironic Twist
Somewhere in a Monaco penthouse, a hedge fund manager is taking notes—finally, a use case for crypto that doesn’t involve rug pulls or ’institutional adoption’ PowerPoints.
Crypto kidnappings on the rise
Such attacks are not the first crypto-kidnapping incidents to have taken place in France in recent months, with January witnessing the violent abduction of Ledger co-founder David Balland and his wife.
Balland also suffered a severed finger as part of his particular ordeal, although French enforcement agencies were able to release the entrepreneur without paying a ransom.
Given the violence and frequency of such incidents, Interior Minister Bruno Retailleau promised on May 16 to boost security for cryptocurrency execs in France, with new measures including a direct emergency line and home security assessments.
France has witnessed five physical crypto attacks in 2025, according to a list compiled by Casa co-founder Jameson Lopp, out of a total of 26 (the U.S. is next with three).
How to avoid crypto kidnap attempts
Experts advise that one of the best ways to minimize your exposure to potential crypto-jackings is to avoid publicizing your holdings.
“That means not talking publicly about holdings, not displaying lifestyle markers that might flag you as a target, and not casually discussing your self-custody setup,” said Phil Ariss, the Director for UK Public Sector Relations at blockchain security firm TRM Labs.
Speaking to Decrypt, Ariss also endorses the greater use of multi-signature wallets and time-delayed withdrawals, which make it harder for would-be thieves to not only take your crypto, but to keep your crypto.
“With a multisig setup, no single person can MOVE funds on their own—it requires multiple approvals,” he said. “Similarly, time locks or time delays on transactions can provide a critical window for intervention if something goes wrong.”
Social recovery wallets represent another valuable option for keeping your funds SAFE according to Ariss, with such wallets relying on multiple contacts to sign transactions and regain access to funds.
“Finally, geographic distribution of wallet access—spreading seed phrases across multiple safe locations—adds a LAYER of protection that can’t be circumvented by force in one location alone,” Ariss adds.
Of course, the fact that crypto revolves around speed and self-custody makes it ripe for targeting by criminals, with fewer barriers to transfers operating in crypto than in traditional finance.
“The rise in wrench attacks reflects not just opportunism, but a broader shift in how organized criminal groups are operating,” explained Ariss. “They’re blending cyber capabilities with physical intimidation, targeting high-net-worth individuals, exchange executives, and even average retail holders who may appear vulnerable.”
Yet ultimately, crypto thefts still rely on conversion into fiat currency to be profitable for criminals, and for Ariss this provides a useful chokepoint.
“At some point, illicit funds have to be cashed out or moved into fiat,” he said. “That’s where exchanges, compliance teams, and law enforcement need to coordinate in real time.”
