In a chilling incident underscoring the dangers tied to the crypto industry, French authorities have reported the rescue of a 60-year-old man who had been kidnapped and tortured in a brutal ransom scheme targeting his son—a wealthy cryptocurrency entrepreneur.
The Paris Kidnapping and Rescue
The victim was abducted in broad daylight at 10:30 AM on a Thursday while walking in the 14th arrondissement of Paris. Four masked men forced him into a delivery van and took him to a remote house approximately 20 kilometers south of the city, in the Essonne region.
During his captivity, the kidnappers reportedly cut off one of his fingers to pressure his family into paying a ransom. Fearing further mutilation, French police launched an emergency response. On Saturday night at 9:00 PM, armed officers raided the house and successfully freed the man.
Five suspects have been arrested. Four were found in or near the location where the victim was held, while a fifth was apprehended driving a vehicle believed to have been used in the abduction. Authorities are pursuing multiple criminal charges, including kidnapping with torture or acts of barbarism.
Pattern of Violence: The Ledger Co-Founder Case
This case follows a similar high-profile incident from January involving David Balland, co-founder of crypto security company Ledger. Balland and his partner were taken hostage at their home in Méreau, central France. After being separated, Balland was transported to Châteauroux, where he too had a finger severed by his captors.
The attackers sent a video of the mutilation along with a ransom demand of €10 million in cryptocurrency to Balland’s business partner, prompting a swift police response. Balland was freed in a raid, and his partner was later discovered tied in the trunk of a car in the Essonne region. In this case, nine suspects were arrested, including a 26-year-old believed to be the ringleader with a criminal history involving kidnapping.
Expert Insight: Crypto Crimes Evolving
According to Nicola Buonanno from blockchain intelligence firm Chainalysis, crypto-related crimes are becoming increasingly sophisticated and dangerous. In an interview with The Cryptonomist, Buonanno highlighted that, while digital theft remains common, there is a growing trend of real-world attacks, including extortion, physical violence, and threats to national security.
Chainalysis data reveals that compromised private keys account for 43.8% of all stolen funds. While DeFi platforms represent the largest share of targeted assets, centralized services are also seeing a rise in attacks. A recent high-profile case involved the exchange #Bybit underscoring the broader vulnerability of the crypto ecosystem.
