French authorities have charged 25 individuals, including six minors, in connection with a series of kidnappings and attempted abductions targeting prominent figures in the cryptocurrency sector. The suspects, aged between 16 and 23, face charges related to multiple plots aimed at crypto executives and their families. Eighteen are currently in pre-trial detention, three have requested deferred hearings, and four remain under judicial supervision.
The investigation centers on a failed abduction attempt on May 13 in Paris’ 11th arrondissement, where the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium, were targeted. Footage of the incident showed four masked attackers assaulting the victims, who sustained minor injuries.
This case is part of a broader trend of crypto-related kidnappings in France. Notable incidents include the January abduction of Ledger co-founder David Balland and his partner, and the May 1 kidnapping of the father of a crypto millionaire, during which the victim’s finger was severed to pressure a ransom payment.
Authorities believe the arrested individuals are lower-level operatives, with the masterminds behind these plots still at large. The suspects come from diverse backgrounds, including origins in the Paris region, Châtellerault, Senegal, Angola, and Russia. Defense lawyers describe many as young individuals lured by the prospect of quick money.
In response to the rising threat, France’s Interior Minister Bruno Retailleau met with crypto industry professionals in mid-May to discuss protective measures. The ministry announced enhanced cooperation between law enforcement and crypto firms, including home security checks conducted by police and gendarmerie officers.
Insurance companies are also developing new protections aimed at the growing physical threat of kidnapping for crypto. At least three firms specializing in crypto insurance and security are preparing tailored kidnap and ransom (K&R) policies for digital asset investors.
The surge in violent kidnappings has prompted crypto executives and investors to seek personal security services, with private firms reporting a rise in requests for bodyguards and protection contracts from high-profile figures in the crypto space.
As the digital asset industry continues to grow, these incidents underscore the need for increased vigilance and security measures to protect individuals involved in the crypto sector.
