French Police Inquire into Spate of Kidnappings Targeting Crypto Millionaires

French authorities are currently investigating a disturbing trend involving the abduction of individuals tied to the crypto world. The latest case involves a 60-year-old man whose finger was severed by kidnappers demanding that his son, a crypto-millionaire, pay ransom for his release. The victim, who runs a crypto marketing firm alongside his son, was held captive for over two days before being rescued by police.

The man was abducted on a Thursday morning while walking in the 14th arrondissement of Paris. According to reports, four masked individuals forced him into a van. After more than 48 hours in captivity, he was located and freed during a police operation at a house located roughly 12 miles south of Paris, in the Essonne region. Authorities arrested five suspects in their twenties at the scene.

Authorities believe the kidnapping was financially motivated and targeted the victim because of his son’s substantial wealth from crypto investments. The public prosecutor stated that the incident revolved around a demand for ransom. Police sources added that the family had previously received threats, which may have been related to their crypto-related business ventures in Malta.

French news outlet Le Parisien reported that the abductors were seeking between $4 million and $6 million in exchange for the man’s release. This sum, however, was never handed over. As of Sunday, the five suspects remained in custody and were undergoing questioning.

This case isn’t isolated. It adds to a growing list of kidnappings targeting people in the crypto space across France and neighboring nations. Earlier this year, David Balland, co-founder of Ledger—a high-profile crypto firm—was abducted along with his partner from their home in Méreau. During that attack, Balland also had a finger cut off. He was taken to another town where a ransom video was recorded and sent to his business associate. The criminals demanded a $12 million payment in digital currency. Balland was later freed in a raid, while his partner was found bound in the trunk of a car in Essonne.

In another incident from December last year, the father of a crypto influencer living in Dubai was abducted in eastern France. Attackers tied up the man’s wife and daughter before taking him away. The influencer received a ransom demand and alerted authorities. The women were rescued shortly after, while the father was discovered a day later in a car trunk in Normandy, injured and covered in gasoline.

Similar attacks have been reported recently in Belgium and Spain, reflecting a rising and deeply concerning pattern of violence tied to digital wealth. Major crypto industry players like Coinbase Global Inc. (NASDAQ: COIN) will be thinking about how to guide their clients and staff on how to avoid this new threat of kidnappings.

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a specialized communications platform with a focus on blockchain and the cryptocurrency sector. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled recognition and brand awareness. CCW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://www.CryptoCurrencyWire.com/Disclaimer

CryptoCurrencyWire
New York, NY
www.CryptoCurrencyWire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

CryptoCurrencyWire is powered by IBN