France brings massive charges against 25 suspects in violent kidnappings linked to cryptocurrency, signaling a new dangerous frontier as digital wealth attracts brutal assaults in the real world.
France confirms 25 arrests as crypto magnates face growing street threats.
French prosecutors stated on Saturday that 25 people, including six minors, have been charged in connection with a wave of attempted kidnappings targeting professionals in the cryptocurrency field, raising concerns within the digital assets community about escalating physical threats. The arrests followed an unsuccessful kidnapping attempt on May 13, involving the daughter and grandson of Pierre Nouazat, the CEO of the crypto firm Paymium. The Paris prosecutor's office was quoted by AFP as stating:
Eighteen people have been placed in preliminary detention, three have requested a postponed hearing, and four are under judicial supervision.
The suspects, aged between 16 and 23, were allegedly part of a network planning several attacks on high-profile individuals in the rapidly evolving digital currency sector.
The attack in Paris occurred in the 11th arrondissement of the capital and was captured on video, which then spread on the social network X. The video showed masked individuals confronting the Nouazat family in broad daylight. All three victims sustained minor injuries and were taken to the hospital. Nouazat publicly praised his son-in-law and a passerby who intervened with a red fire extinguisher to fend off the attackers.
In investigating this incident, authorities uncovered a second planned kidnapping attempt near Nantes. The accused reportedly include both operational participants and logistical coordinators, with most suspects born in France, and others from Senegal, Angola, and Russia. Defense attorneys emphasized the youth of many involved, portraying them as vulnerable and manipulable by promises of quick money.
For the crypto industry, these events underscore the increasing risks faced by innovative leaders in the public eye. Assault cases began in January when Ledger co-founder David Balland was kidnapped and mutilated during a ransom demand, highlighting the urgency for protective measures. In mid-May, Interior Minister Bruno Retailleau convened an emergency meeting with cryptocurrency leaders, promising to enhance security. Recently, the cryptocurrency exchange Binance shared a five-step security plan in response to the rising physical threats associated with the increase in Bitcoin's price, aimed at strengthening the protection of cryptocurrency holders worldwide.
