France has seen a surge in violent crimes targeting cryptocurrency entrepreneurs and their families. These incidents, centered in Paris and other regions, involve kidnappings and attempted abductions, with criminals demanding large ransoms. French authorities are responding with arrests and increased security measures to protect those in the crypto industry.
Recent Incidents
Several high-profile cases have highlighted the growing threat to cryptocurrency businesspeople:
- December 31, 2024, Saint-Genis-Pouilly: Five armed individuals attacked a couple in their home near the Swiss border. They demanded a ransom from their son, a Dubai-based influencer and cryptocurrency entrepreneur. When the ransom was not paid, they abducted the father, who was later found in a car trunk in Sarthe, 700 kilometers away. The 56-year-old victim was assaulted, doused with petrol, and transported in the car trunk. His wife was left tied up at home.
- May 13, 2025, Paris: A masked gang attempted to kidnap the daughter and grandson of Pierre Noizat, CEO of crypto firm Paymium, in broad daylight. The attempt was unsuccessful, but it raised significant concerns.
- May 1, 2025, Paris: The father of a cryptocurrency millionaire was kidnapped by men in balaclavas. The kidnappers demanded a ransom of 5-7 million euros. The victim was rescued days later in Palaiseau, south of Paris, missing one finger.
- January 2025, Central France: David Balland, co-founder of Ledger, and his wife were abducted from their home. The kidnappers demanded a 10 million euro ransom. The couple was rescued within days, but Balland also lost a finger.
- June 2025, Nantes: Five men were arrested for planning to kidnap a young man and his mother, intending to cut off one of her fingers to secure a ransom from the son, who owned cryptocurrencies. Police intervened before the attack occurred.
Arrests and Investigations
French authorities have taken action to address these crimes:
- Saint-Genis-Pouilly Case: On January 7, 2025, five suspects, including four adults aged 18-22 and one 17-year-old minor, were arrested. They face charges of kidnapping, armed robbery, and aggravated assault. Three of the adults have extensive criminal records, including violence, theft, drug trafficking, currency trafficking, and weapons possession. The minor has a record for aggravated theft.
- May 2025 Arrests: Twenty-five people, including six minors, were charged in connection with multiple kidnappings and attempted abductions targeting crypto entrepreneurs.
- Nantes Case: Five men were arrested in June 2025 for planning a kidnapping in western France.
- Ledger Case: Seven individuals, six men and one woman, were arrested in connection with the January 2025 kidnapping of David Balland and his wife.
Government Response
The wave of attacks has prompted a strong response from French officials:
- Interior Minister Bruno Retailleau held an emergency meeting with cryptocurrency industry leaders in mid-May 2025. He pledged that the "entire state apparatus" would be mobilized to track down and stop the perpetrators.
- Authorities are under pressure to enhance security for crypto executives and their families, as their wealth makes them prime targets for criminals seeking ransom payments.
Ongoing Concerns
The cryptocurrency sector's rapid growth has brought wealth but also risks:
- High visibility: Many crypto entrepreneurs, like the Dubai-based influencer, are well-known, making them and their families vulnerable.
- Criminal tactics: Kidnappers are using extreme violence, including mutilation, to pressure victims into paying large ransoms.
- No connections found: Prosecutors have not yet established links between the various kidnapping cases, suggesting multiple groups may be involved.
The string of incidents in Paris and beyond underscores the need for heightened security and vigilance in the cryptocurrency industry. French authorities continue to investigate and work to prevent further attacks.