TikTok cryptocurrency influencer kidnapped for ransom, account balance insufficient and sadly released
A 26-year-old TikTok cryptocurrency influencer was kidnapped on Friday evening while returning to his residence in Juvisy-sur-Orge, north of Paris. Four kidnappers demanded a ransom of 50,000 euros in cryptocurrency. However, this kidnapping took a dramatic turn; when the kidnappers discovered that the influencer, who had 40,000 followers, actually did not have enough funds to pay the ransom, they released him the next day.
According to a report by French radio Europe 1 on Sunday, four kidnappers forcibly dragged the cryptocurrency trader into a stolen Renault Clio car and beat him during the process. The influencer showed the kidnappers that his account balance was nearly zero during the kidnapping, proving he could not pay the demanded ransom. After discovering that their 'prey' was not as wealthy as they imagined, the kidnappers ultimately chose to release him.
Currently, organized and specialized crime units in France are investigating this case, and the trader has received six days of French working ability loss benefits.
Surge in cryptocurrency kidnappings in France, multiple suspects apprehended
This year in France, cryptocurrency-related kidnapping cases have significantly increased, prompting the country's interior minister to meet with cryptocurrency entrepreneurs to discuss the increasingly serious security issues.
On May 13, attackers attempted to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of the French cryptocurrency exchange Paymium.
Earlier on May 3, Paris police rescued the father of a cryptocurrency entrepreneur, who had been held for several days, with his fingers severed, and the kidnappers demanded a ransom of 7 million euros.
According to estimates by Ledger co-founder Eric Larchevêque, out of 50 violent attacks against cryptocurrencies globally in the past year, France accounted for 14, which is quite alarming. In response to the surge in cases, French police have taken proactive measures. On June 4, a suspect accused of being the mastermind behind a recent series of cryptocurrency-related kidnappings in France was arrested in Morocco. On May 31, the Paris prosecutor's office charged 25 individuals related to multiple plots against well-known cryptocurrency figures and their families.
Further reading
Imprisoned and abused for 17 days! Cryptocurrency investor kidnapped an Italian, electrocuted on the legs and forced to consume cocaine.
Another cryptocurrency operator kidnapped! He was forced at gunpoint to transfer 500,000 dollars, and two Chinese nationals are suspected to be involved.
The family of an exchange CEO was attacked on the road! Dramatic footage exposed: was it finally resolved with a fire extinguisher?
The influencer's culture of flaunting wealth raises security concerns, experts urge caution.
This incident highlights the security risks faced by cryptocurrency influencers and traders, especially those who flaunt their wealth on social media. The kidnappers used a stolen car and meticulously planned their crime, targeting victims based on their online visibility. This type of crime is referred to as a '5-dollar wrench attack' in the cryptocurrency community, originating from an XKCD comic that illustrates how any high-tech security measure can be defeated by physical violence.
Image source: XKCD 5-dollar wrench attack comic illustration
Cryptocurrency hardware wallet manufacturer Trezor pointed out that kidnappers seeking cryptocurrency ransom are 'misguided' because 'Bitcoin transactions are traceable on the public blockchain, and other cryptocurrencies like $USDT can be frozen or revoked'. The company cited the kidnapping case of Ledger co-founder David Balland as an example, noting that '95% of the $USDT ransom was seized after his release'.
French National Assembly member Paul Midy submitted a draft bill last week aimed at limiting access to the residential information of cryptocurrency public figures in the official registry to protect them from attacks. As the investigation continues, this incident highlights the security risks faced by those operating in the volatile cryptocurrency market.
How to protect yourself from robbery
Bitcoin family protects against robbery! Distribute private keys across four continents, use decentralized steel plates, abandon hardware wallets
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This content was generated by Crypto Agent summarizing various information, reviewed and edited by 'Crypto City'. It is still in the training phase, and there may be logical biases or information errors. The content is for reference only and should not be considered investment advice.
『Crypto influencer kidnapped! Upon seeing the account balance, the kidnapper found 'they are quite poor', and unexpectedly decided to release them』 This article was first published in 'Crypto City'
