French Government Acts After String of Crypto Kidnappings
France’s Interior Minister Bruno Retailleau has convened an urgent meeting with cryptocurrency leaders following a spate of violent kidnapping attempts targeting individuals linked to the booming crypto industry. The latest attack, a dramatic daytime abduction attempt in Paris, has raised alarm over the growing risks faced by crypto professionals and their families in the country.
Retailleau’s call for cooperation between the government and crypto business figures comes just a day after four masked assailants tried to abduct the daughter and grandson of a prominent crypto entrepreneur in Paris’s 11th arrondissement. The attempted kidnapping, which was caught on camera, saw the victims resist their attackers until passersby intervened, preventing a potentially tragic outcome. The victims were hospitalized with minor injuries but escaped without being taken.
“I will assemble businesspeople working in cryptocurrencies, and we have a few of those in France, at the interior ministry to work with them on their security and so that they become aware of the risks,” Retailleau told Europe 1-CNews, a statement later echoed by France 24 and AFP.
A Growing Pattern of Crypto-Targeted Violence
The latest incident is part of a disturbing trend of kidnappings aimed at cryptocurrency insiders in France this year. The woman and child targeted in Paris are related to the co-founder and CEO of Paymium, a French cryptocurrency exchange, according to media reports.
This is not an isolated case. In January, David Balland, co-founder of Ledger, a major crypto wallet company, was kidnapped from his home in central France along with his partner. Balland was severely injured, with attackers cutting off one of his fingers while demanding a “large ransom in cryptocurrency,” as noted by the Paris prosecutor’s office. The couple was eventually rescued by GIGN, France’s elite police unit, which has since arrested nine suspects, including the group’s alleged leader.
Further highlighting the trend, earlier this month criminals abducted the father of another crypto entrepreneur, demanding a ransom reportedly as high as €7 million. Police successfully freed the victim in a raid that led to the arrest of seven suspects. Prosecutors described the victim’s son as a crypto millionaire, underscoring the lucrative stakes behind these crimes.
Minister Retailleau praised law enforcement’s response: “They did an exceptional job in freeing this man and arresting his captors.”
Government’s Urgent Push for Protection
Speaking about the security risks facing crypto leaders and their families, Retailleau emphasized the need for enhanced measures. “We will also find the perpetrators wherever they may be, perhaps even abroad,” he declared after announcing the upcoming Friday meeting with crypto businessmen.
This meeting aims to forge stronger collaboration between the government and the cryptocurrency industry to better protect individuals vulnerable to such attacks. France has been struggling to contain a rise in organized crime, with recent years seeing brazen assaults unrelated to cryptocurrencies but contributing to an atmosphere of insecurity in the country.
Crypto Industry’s Rapid Growth Comes With New Risks
The recent kidnappings expose a darker side of the cryptocurrency boom in France, where rapid wealth accumulation among entrepreneurs has made them targets for violent crime. Unlike traditional industries, the digital nature of crypto assets and their perceived liquidity have attracted the attention of organized criminal groups willing to resort to brutal methods.
Retailleau’s move to engage directly with the crypto community reflects growing awareness of these risks at the highest levels of government. His call for collective action highlights the challenge of balancing the encouragement of innovative industries with ensuring the safety of those who drive them.
As the government and crypto leaders prepare to meet, the hope is that practical solutions can emerge to stem this worrying trend — ensuring that France’s digital pioneers can innovate without fear of becoming targets in a violent new wave of crime.
