French law enforcement has intensified its efforts to tackle a disturbing wave of violence targeting cryptocurrency investors and their families. In recent weeks, several suspects have been apprehended in connection with kidnappings and attempted abductions involving high-net-worth individuals linked to the digital asset space.
This new breed of crypto criminals isn’t just after tokens or hacking wallets—they’re taking a far more brutal route. Physical threats, kidnappings, and extortion are becoming part of a terrifying trend. But authorities are fighting back, with recent arrests serving as a warning to would-be attackers.
Crypto-Linked Kidnapping Wave in Paris
According to reports, a string of violent crimes in Paris has been traced back to organized gangs made up of young recruits manipulated by anonymous masterminds operating behind screen names. In May alone, two high-profile incidents occurred in Paris and one in New York, underscoring the global nature of this threat.
On May 1, the father of a young poker player who had earned a fortune through cryptocurrency was kidnapped and mutilated. The kidnappers demanded between €5–7 million for his release. Disturbingly, they severed one of his fingers and sent it as a message. Thankfully, the victim was rescued in Palaiseau by the Paris BRI and criminal brigade after a coordinated raid.
Less than two weeks later, on May 13, criminals attempted to abduct the daughter of Paymium CEO Pierre Noizat in broad daylight near a school in Paris' 11th arrondissement. Although the perpetrators escaped, the attack was thwarted by the brave actions of bystanders and the victim’s partner. The incident was caught on camera, shocking the local community. Investigations are ongoing, with police considering the possibility of a coordinated criminal network behind both crimes.
Minors Recruited and Arrested
During a major raid led by the Brigade for the Repression of Banditry (BRB), more than a dozen individuals were arrested, including several minors believed to be involved in the kidnappings. Police say these young suspects were likely manipulated online by anonymous sponsors who orchestrated the crimes via social media.
Crypto's Popularity Attracts Violence
As crypto adoption grows, so does the danger. The community has seen a rise in so-called "wrench attacks"—violent attempts to physically force investors to surrender their private keys. Bitcoin remains the most targeted digital asset.
On May 6 in New York, 37-year-old crypto investor John Woeltz was arrested after allegedly kidnapping and torturing a 28-year-old Italian man in a luxury townhouse. The victim, held for three weeks and forced to reveal his crypto credentials, escaped and alerted authorities.
Stakeholders now warn that as digital currencies become more mainstream, criminals will grow bolder. Due to crypto’s pseudonymous nature and cross-border complexity, law enforcement faces mounting challenges in preventing such attacks.
Caution Urged Within the Crypto Community
Online, users have expressed growing concern over these developments. Many are urging fellow investors to avoid flaunting their wealth or crypto portfolios publicly, and to keep wallets secure and offline when possible.
The message is clear: crypto investors must remain vigilant—not just digitally, but physically.