Surge in Kidnapping Incidents Targeting Cryptocurrency Figures in France

French authorities have arrested 24 individuals linked to a series of kidnapping attempts aimed at cryptocurrency entrepreneurs, following high-profile incidents involving ransom demands. The increasing attacks have prompted calls for enhanced security measures for those in the crypto industry.

French police have apprehended more than 20 suspects connected to a disturbing rise in kidnapping plots against cryptocurrency entrepreneurs and their families. These arrests stem from a series of investigations focusing on a failed abduction attempt in Nantes and another instance involving a woman and her child in Paris back in May. As cryptocurrency fortunes grow, so do the risks, with criminals eyeing potential ransom payments from wealthy individuals in this sector.

According to reports from frenchinfo, a total of 24 arrests were made in light of these events. Notably, one incident involved a gang that attempted to abduct the daughter and grandson of Pierre Noizat, co-founder of Paymium, a French Bitcoin exchange platform, in Paris on May 13. Furthermore, police acted swiftly to thwart a kidnapping plot aimed at another individual linked to the cryptocurrency realm in the Nantes region on Monday.

The atmosphere of fear has spread beyond these incidents, as evidenced by an earlier case where the father of a cryptocurrency millionaire was forcibly taken by masked men in Paris on May 1. His kidnappers reportedly demanded a ransom between 5 and 7 million euros. Rescue efforts led to the victim being found with injuries, including the loss of a finger.

Additionally, the kidnapping of David Balland, co-founder of the cryptocurrency firm Ledger, in January, highlighted the dangers faced by those in the industry. Authorities rescued Balland and his wife, but not before they sustained injuries, including the removal of one of his fingers. The kidnappers had aimed to collect a ransom of 10 million euros.

In response to these alarming attacks, French Interior Minister Bruno Retailleau convened an emergency meeting with industry leaders in mid-May. He assured them that the "entire state apparatus" was committed to taking action against those behind the increasing violence. As concerns grow over the safety of cryptocurrency figures in France, the government faces mounting pressure to enhance security measures for this vulnerable demographic.