In a terrifying new pattern gripping Europe, crypto wealth is turning into a magnet for violence. French police are investigating a wave of brutal kidnappings targeting cryptocurrency investors and their families—most recently involving a 60-year-old man whose finger was chopped off in a bid to extort his crypto-millionaire son.
The victim, a co-owner of a crypto marketing company alongside his son, was abducted in broad daylight last Thursday in the 14th arrondissement of Paris. Four masked men forced him into a delivery van around 10:30 a.m., shocking witnesses and raising alarm across the crypto world.
Held captive for over two days in a house south of Paris, the man was rescued Saturday night during a tactical police raid. Authorities say the kidnappers had already mutilated him—cutting off one of his fingers—and feared worse could have happened had the raid come any later.
Police arrested five suspects, all men in their 20s. The gang had allegedly demanded a ransom between €5 million and €7 million. Fortunately, the ransom was never paid.
The case adds to a growing list of high-profile abductions involving crypto-affiliated individuals in France and across Europe.
Back in January, David Balland, the co-founder of crypto hardware wallet giant Ledger (valued at over $1 billion), endured a similar nightmare. He and his partner were kidnapped from their home in Méreau. Balland was taken to another location, where one of his fingers was severed as proof-of-life for a €10 million ransom demand. A business partner received a video of the mutilation, prompting swift police action. Balland was freed during a raid, and his partner was later discovered tied up in the trunk of a car.
Authorities later detained nine suspects, including the alleged ringleader—a 26-year-old with a past kidnapping conviction.
In another chilling incident in December 2024, the father of a Dubai-based French crypto influencer was abducted from his home in eastern France. Attackers tied up his wife and daughter before forcing him into a vehicle. He was found a day later in the trunk of a car in Normandy, doused in petrol and showing clear signs of torture.
Similar attacks have been reported in Spain and Belgium over the past five months, pointing to a coordinated and increasingly violent pattern.
Police believe organized crime groups are specifically targeting families of crypto millionaires, exploiting both the lack of physical security and the irreversible nature of crypto transfers.
As crypto wealth grows, so do the dangers.Authorities urge digital asset holders to tighten their personal security and avoid disclosing financial information—even to friends or on social media.
Because in today’s world, a flashy portfolio might just make you the next target.
Here, there are some precautions you can take to protect yourself and your loved ones:
1. Stay Informed: Be aware of the latest kidnapping tactics and scams involving cryptocurrencies.
2. Limit Personal Info Online: Avoid sharing sensitive details about your finances, travel plans, or routine on social media.
3. Use Strong Security: Protect your crypto wallets with strong passwords, two-factor authentication, and hardware wallets.
4. Have Emergency Plans: Create a family safety plan, including what to do if someone is kidnapped.
5. Avoid Ransom Payments: Authorities usually advise against paying ransom; instead, contact law enforcement immediately.
6. Notify Authorities: Report suspicious behavior or threats promptly to local police or cybercrime units.
7. Use Trusted Crypto Services: Use reputable exchanges and wallets with good security protocols.
8. Secure Your Home and Devices: Use surveillance, alarms, and keep your devices updated to prevent hacking o#
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