In a chilling development highlighting the growing intersection between crime and cryptocurrency, French authorities have arrested more than a dozen individuals linked to two high-profile kidnapping cases that appear to have targeted crypto industry figures and their families.
The suspects, according to a May 26 report by Le Parisien, include several minors and face charges ranging from kidnapping and attempted kidnapping to criminal conspiracy. French law enforcement believes these cases may be part of a wider, organized effort, possibly involving recruitment via social media channels.
One of the more shocking incidents occurred on May 13 in Paris, when three individuals allegedly attempted to abduct the daughter and grandson of Pierre Noizat — the co-founder and CEO of French crypto exchange Paymium. The brazen daylight attempt was caught on video by bystanders and shows a struggle where Noizat’s daughter resisted the attackers long enough for nearby pedestrians to intervene and foil the kidnapping.
In a separate and earlier case this month, authorities managed to rescue the father of a prominent crypto marketing executive. The man had been kidnapped and was being held hostage with a reported ransom demand between €5 million and €7 million — to be paid in cryptocurrency.
While arrests have yet to be made in connection with the attempted abduction of Noizat’s family, Le Parisien reported that up to six individuals have already been apprehended and imprisoned for their involvement in the earlier kidnapping case. These include the main suspects directly involved in the abduction, suggesting that police are making headway in dismantling at least part of the suspected network.
This isn’t the first time France has had to grapple with violent crime targeting its crypto community. Earlier this year, David Balland, co-founder of Ledger — the well-known crypto hardware wallet provider — was reportedly kidnapped from his home. The criminals in that case also demanded a cryptocurrency ransom. French police were able to track down and rescue Balland days later, in what appears to be a disturbing trend of targeted attacks against crypto figures.
The rise in such incidents has prompted a swift response from the French government. Interior Minister Bruno Retailleau announced earlier this month that increased security protocols would be implemented to better protect crypto entrepreneurs and their families. With the value and popularity of digital assets on the rise, these individuals are becoming attractive targets for criminals who believe that digital wealth is more vulnerable than traditional assets.
A GitHub repository maintained by Jameson Lopp — a noted cypherpunk and co-founder of self-custodial platform Casa — has tracked six crypto-related criminal incidents in France this year alone. Alarmingly, three of those have taken place in Paris, reinforcing the capital city’s emerging status as a hotspot for crypto-motivated criminal activity.
In response, many in the industry are now taking personal security more seriously. Some executives have reportedly hired professional bodyguards, while others are investing in more advanced home surveillance systems or making changes to their daily routines to avoid predictable patterns.
As cryptocurrencies continue to gain mainstream traction, the security challenges facing high-profile players in the space are evolving. With digital wealth no longer safely tucked away in banks, but instead stored on hardware wallets or cloud keys, the human vulnerabilities in this system — family, routine, physical safety — are now becoming critical weak points. The recent events in France are a stark reminder that in the world of decentralized finance, physical-world risks are still very real.
