France cracks down on crypto kidnappings, arrests 12 in Paris as gang targets top executives

French authorities have arrested more than 12 suspects linked to a disturbing surge in crypto kidnappings, with investigators uncovering a potential criminal network targeting high-profile figures in the digital asset space. The arrests follow two high-stakes abduction attempts in Paris, highlighting a dangerous new trend where victims are held for multimillion-euro cryptocurrency ransoms.

According to Le Parisien, those detained include several minors, facing charges ranging from kidnapping and attempted abduction to criminal conspiracy. The crackdown comes as law enforcement probes whether an organized gang is orchestrating these crypto kidnappings, using social media to recruit perpetrators.

Daring daylight kidnapping attempt foiled by bystanders

One of the most shocking cases occurred on May 13, when three assailants attempted to kidnap the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium, in broad daylight. Surveillance footage shows the victim fighting back fiercely as nearby pedestrians intervened, thwarting the abduction.

Despite the brazen attack, no arrests have yet been made in this case. However, authorities are treating it as part of a wider pattern of crypto kidnappings sweeping France.

Crypto entrepreneur’s father held for €7 million ransom

In a separate incident earlier in May, French police successfully rescued the father of a cryptocurrency marketing executive after he was abducted and held captive. The kidnappers demanded a staggering €5-7 million ransom, believed to be payable in cryptocurrency.

Six suspects tied to this case have already been imprisoned, marking a significant breakthrough in France’s battle against crypto kidnappings.

Ledger co-founder’s abduction: A warning sign

This isn’t the first time French crypto leaders have been targeted. Earlier this year, David Balland, co-founder of hardware wallet giant Ledger, was kidnapped from his home by assailants demanding crypto. Police rescued him days later, but the incident sent shockwaves through the industry.

Security expert Jameson Lopp, co-founder of self-custody firm Casa, has tracked at least six crypto-related kidnappings in France in 2024 alone—half of them in Paris.

“Criminals see crypto executives as high-value targets because transactions can be harder to trace. This is a growing, global threat,” warns Lopp.

France ramps up security for crypto figures

In response to the escalating threat, French Interior Minister Bruno Retailleau has ordered enhanced security measures for crypto entrepreneurs and their families. Many industry leaders are now hiring professional bodyguards, while police increase surveillance around known crypto hubs.

“We are dealing with a sophisticated criminal network exploiting the anonymity of digital currencies. These crypto kidnappings are not random—they are carefully planned,” a senior police investigator told Le Parisien.

Global implications of crypto kidnappings

France isn’t alone in facing this crisis. Similar cases have emerged worldwide, including a high-profile New York torture-kidnapping where victims were forced to drain their crypto wallets.

“The line between cybercrime and physical violence is blurring. Crypto kidnappings are becoming a preferred method for organized crime,” says Eva Kaili, a European Parliament member focused on digital asset regulation.

How crypto executives are fighting back

With crypto kidnappings on the rise, industry leaders are taking extreme precautions:

• 24/7 armed security details

• Relocating family members to secure locations

• Avoiding public schedules

Yet, as long as cryptocurrencies remain lucrative, criminals will continue to see executives as prime targets.