French Authorities Arrest 12 Over Crypto Kidnappings

French authorities say they are making progress in a series of investigations linked to crypto-related kidnapping cases after a new wave of arrests connected to a violent abduction last summer.

Police in Lyon confirmed that 12 suspects were taken into custody in connection with an August incident in which a young Swiss man was held captive for four days while his attackers demanded a ransom paid in crypto. According to France Info, officers stormed a building and freed the man after tracking the group believed to be responsible for the kidnapping.

Authorities said the latest detentions are the result of an investigation that has been underway for months. In a statement released Wednesday, police said the inquiry had also identified roughly 20 more people who may have played a role in the operation at different levels.

In a separate case, investigators in Versailles are searching for three suspects accused of impersonating police officers during a robbery. Authorities say the trio confronted a couple, threatened them with a knife, and forced them to transfer Bitcoin worth about $1 million.

Security specialists warn that attacks targeting crypto holders, referred to as “wrench attacks” are becoming more common worldwide. Researchers estimate that at least 55 such cases were documented globally in 2025.

Officials have released only limited information about the Lyon kidnapping while the investigation continues. A source close to the case told France Info that the victim was known within certain circles to hold crypto, though the amount he owned has not been disclosed publicly.

A police spokesperson said the victim suffered significant physical abuse during his captivity and required medical attention after being rescued.

The rescue operation was coordinated by prosecutors in Lyon near the end of August. Approximately 150 armed officers participated in the raid, which targeted a property near the Valence railway station in the Drôme department. Police arrested three suspects during the raid, including one person investigators believe played a leading role in organizing the kidnapping.

Further arrests followed days later. In early September, seven additional suspects were detained in the Valence area. Officials said one of those arrested was under the age of 18, while the others were aged 24 to 30 years. Authorities also noted that several of them were already known to law enforcement.

Prosecutors later filed multiple charges against the suspects, including kidnapping, unlawful detention, organized criminal activity, illegal weapon possession, and extortion. On March 2, police carried out another coordinated operation that resulted in 18 more arrests. Three of those detained were placed in pretrial custody.

French police say they have handled about 40 cases linked to crypto kidnappings between July 2023 and December 2025. They believe a number of these incidents were planned or directed by criminal networks operating outside France.

These breakthroughs in solving cases crypto-linked kidnapping are likely to be welcomed by the broader crypto industry, including enterprises like Circle Internet Group Inc. (NYSE: CRCL).

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