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A 70-year-old man was kidnapped from his home in Voiron, France, beaten, and held for 16 hours by criminals demanding €3 million in cryptocurrency from his son.
French police arrested four suspects after the victim was released without ransom being paid on January 25, according to TF1 Info. Authorities warn the case reflects a growing trend of crypto-related extortion targeting investors’ families.
According to the victim’s testimony, the kidnapping unfolded rapidly and violently. “I felt hands slam me to the ground. I thought it was a nightmare. They immediately started punching me and, a short time later, hitting me in the face with the butt of a gun,” — the victim, speaking anonymously to TF1 Info.
The attackers restrained him and transported him in a vehicle for several hours before holding him captive at another location. During the ordeal, the criminals attempted to pressure his son by sending videos meant to reinforce their crypto ransom demand
“I realized they were going to use me to blackmail me into giving them what they claimed was my son’s money,” — the victim said in the same broadcast.
TF1 reported that the captors remained in constant communication with whoever orchestrated the kidnapping, escalating threats as they tried to force compliance. The man later described feeling completely isolated and uncertain whether he would be found, underscoring the psychological toll of the crypto ransom attack.
After 16 hours, the victim was released with injuries and taken to hospital, where he received emergency care in Grenoble. No payment was made, and police confirmed that the intervention prevented the crypto ransom attempt from succeeding.
French authorities moved quickly after the victim’s son contacted police. The Research and Intervention Brigade (BRI) arrested four suspects aged between 19 and 23. According to information from TF1-LCI’s police and justice department, the individuals were already known to law enforcement for drug trafficking and violent offenses.
Investigators said the suspects had responded to an advertisement posted on Snapchat, suggesting a loosely organized criminal operation rather than a sophisticated cybercrime syndicate.
Three of the suspects have since been charged and placed in pretrial detention. A fourth individual was released, while authorities continue to search for the alleged mastermind behind the crypto ransom scheme.
The case illustrates how traditional criminal networks are increasingly exploiting the perceived wealth of cryptocurrency investors. Even without direct access to digital wallets, attackers are targeting relatives as a means to extract payment, expanding the scope of crypto ransom threats beyond online extortion.
Legal experts say the Voiron case is not an isolated incident. For several months, cryptocurrency holders and their families have been emerging as targets for kidnappings and extortion attempts across France.
“It really feels like a gold rush by certain criminals who believe anything is possible, anything is conceivable when it comes to cryptocurrencies,” — Fabien Rajon, the victim’s lawyer, told TF1 Info.
He added that suspected data leaks involving cryptocurrency holders may be exposing individuals to heightened risk.
“Apparently, there have been data leaks concerning cryptocurrency holders, and so we fear potential victims in the future,” — Fabien Rajon, Lawyer.
The lawyer’s warning underscores broader concerns within law enforcement and the legal community that crypto ransom crimes may increase as digital assets become more mainstream. Unlike traditional financial crimes, cryptocurrency-related extortion often relies on intimidation and physical coercion rather than hacking alone.
TF1 noted that recent cases have involved not only private investors but also public officials and professionals, reinforcing fears that criminals are widening their net. As authorities continue to investigate the Voiron kidnapping, the case stands as a stark reminder that the consequences of crypto ransom schemes can extend far beyond the digital realm.
