from materials of the article on the site - Cryptonewsland
A 26-year-old TikTok crypto trader was kidnapped in France but was released after reporting that he did not have enough money.
The French police are investigating a rise in kidnappings related to cryptocurrency, including failed and violent plots to obtain ransom across the country.
Authorities have arrested suspects, charged 25 individuals, and coordinated actions internationally to combat cryptocurrency-related crimes.
A young crypto trader, a TikTok user, was released by his kidnappers who discovered he did not have the amount of money they wanted. This occurred in Juvisy-sur-Orge, a northern suburb of France, where the trader reportedly was attacked on Friday evening. The kidnappers demanded 50,000 euros in digital currency but released the victim upon finding out he had no funds, as noted in Bo's post on X.
According to local media reports, the trader was returning home when he was intercepted by four unknown individuals and forced into a stolen car. It is reported that the victim was beaten during the ordeal. The assailants intended to extort 50,000 euros in digital currency, but their plan failed when they discovered he did not have that amount.
The victim was released the next day after he showed the assailants a low balance on his cryptocurrency account. He currently has around 40,000 followers on TikTok, where he shares cryptocurrency-related content. After his release, the trader received six days of disability benefits under French law.
The French Organized and Specialized Crime Unit has initiated an investigation into this case. Authorities are working to identify the suspects and examine how the victim was discovered and targeted. The investigation is ongoing, and arrests have not yet been confirmed.
This incident added to the rising number of cryptocurrency-related kidnappings across France in recent months. On May 13, assailants attempted to kidnap the daughter and grandson of Pierre Noizat, CEO and co-founder of the French cryptocurrency exchange Paymium.
In another case, Paris police rescued the father of a crypto entrepreneur on May 3 after he spent several days in captivity. It is reported that during captivity, the man had one of his fingers severed. This kidnapping involved a ransom demand of 7 million euros (approximately 7.8 million dollars).
The French government responds to security threats
In response to the growing number of cases, the French Minister of the Interior held meetings with leaders of the crypto business. These discussions focused on measures to improve personal safety for those involved in the crypto sector.
On June 4, one of these individuals was detained by Moroccan authorities, who are considered among the main organizers of various kidnapping schemes that have occurred recently. Meanwhile, on May 31, French prosecutors charged 25 suspects in various kidnapping schemes involving crypto entrepreneurs and their relatives.
The French police, in cooperation with other international forces, are still pursuing a person involved in these kidnappings. Corrective efforts are ongoing as the government tries to reduce the surge in crimes related to cryptocurrency ownership and their exposure on social media.
$BTC , $ETH , $SOL
Wesley Munene Author
—
crypto journalist
