Kidnappers in France Target Cryptocurrency Entrepreneurs for Ransom

A disturbing wave of kidnappings targeting individuals connected to the cryptocurrency industry has emerged in France, underscoring the growing dangers faced by digital-asset entrepreneurs. In early May 2025, French authorities rescued the father of a prominent crypto entrepreneur—marking at least the second high-profile abduction of someone linked to digital-asset wealth this year. The trend extends beyond France’s borders, with similar cases reported in Spain and Belgium, and recalls earlier incidents involving Ledger co-founder David Balland and other crypto figures.

Recent Abduction and Rescue

On Thursday, May 1, 2025, a 60-year-old man—identified only as the father of a crypto-millionaire was abducted in broad daylight in central Paris. Kidnappers demanded a ransom in cryptocurrency, tactically exploiting the family’s digital-asset holdings AP News. French prosecutors confirmed that the victim was located and rescued in a nighttime raid on Saturday in Essonne, south of Paris. During his captivity, the attackers reportedly severed one of his fingers, an act that has led investigators to consider charges of kidnapping “with torture or barbaric acts”. Five suspects four found at the holding site and a fifth apprehended as getaway driver are now in custody.

Pattern of Crypto-Related Kidnappings

This case mirrors earlier incidents:

In January 2025, David Balland, co-founder of Ledger, and his wife were kidnapped in central France. His captors demanded a €10 million cryptocurrency ransom. Balland and his wife were rescued by the elite GIGN tactical unit, and part of the ransom was traced and frozen.
In December 2024, the father of a well-known crypto influencer was taken hostage in eastern France and later found beaten and doused in petrol in Normandy.
Similar violent abductions have been reported in Spain and Belgium, indicating a broader European trend of targeting wealthy crypto stakeholders.

Motivations and Modus Operandi

Kidnappers specifically seek crypto-denominated ransoms, believing victims’ families or companies will pay in digital assets rather than fiat currency. This preference complicates law-enforcement efforts, as tracing blockchain transactions requires specialized forensic tools. Attackers have shown a willingness to commit extreme violence, including mutilation, to pressure victims into compliance.

In each case, the GIGN and the National Gendarmerie’s anti-crime unit JUNALCO executed rapid, coordinated operations to locate and liberate the hostages. Authorities now emphasize heightened vigilance for public figures and executives known to hold or control large cryptocurrency reserves.

Broader Implications for the Crypto Community

These violent incidents have profound repercussions:

Security Concerns: Crypto entrepreneurs and their families face elevated personal risk. Many are now hiring private security and reducing public exposure.
Regulatory Scrutiny: Governments and financial regulators cite these crimes as evidence supporting stricter Know-Your-Customer (KYC) and anti-money-laundering (AML) controls in crypto platforms.
Market Sentiment: High-profile kidnappings can shake investor confidence, leading to temporary price volatility in affected tokens, especially when ransom demands target specific companies or communities.

Conclusion

The wave of crypto-targeted kidnappings in France and neighboring countries is a stark reminder of the intersection of digital wealth and physical danger. As law enforcement ramps up specialized operations, the crypto community must also prioritize personal security and support industry-wide efforts to improve tracing of illicit transfers. Only with coordinated global action can such violent extortion efforts be halted, ensuring the safety of those driving innovation in digital finance.