French police have taken decisive action by arresting more than 20 individuals implicated in a series of kidnapping attempts targeting cryptocurrency entrepreneurs and their families. These operations come in light of a worrying trend that has seen a rise in the abduction of individuals associated with the crypto industry, as highlighted by multiple incidents across the nation.
The arrests were announced following an investigation into a harrowing abduction attempt in Nantes and an earlier kidnapping plot in Paris that involved a woman and her child in May. Authorities are particularly alarmed by these developments given the potential for ransom payments from wealthy individuals linked to the booming cryptocurrency market. French Interior Minister Bruno Retailleau emphasized the need for enhanced security measures for those in the cryptocurrency sector, vowing to safeguard their well-being.
Reports state that police detained a total of 24 suspects, including those linked to an attempted kidnapping of the daughter and young grandson of Pierre Noizat, the co-founder of the French Bitcoin exchange platform Paymium. This incident occurred on May 13, when a masked gang attempted to abduct them in Paris.
Recent incidents have revealed a pattern of violent and criminal behavior directed at wealthy cryptocurrency figures. One particularly alarming case involved a millionaire's father, who was forcibly taken by men in balaclavas from Paris on May 1, with kidnappers demanding a ransom of between 5 to 7 million euros. When rescued days later, the victim had suffered significant injuries, including having a finger amputated.
The rise in such violent crimes follows the shocking kidnapping of David Balland in January, a co-founder of the cryptocurrency company Ledger, who, along with his wife, was seized from their home. The couple was released after police intervention, but not before they were subjected to severe violence.
In light of these worrying events, Minister Retailleau convened an emergency meeting with cryptocurrency industry leaders in mid-May, assuring them that the government is fully committed to tracking and apprehending those responsible for these acts of violence. He stated that the state's entire apparatus is dedicated to combating the escalation of threats against the cryptocurrency community in France.
