French police have successfully rescued the father of a cryptocurrency mogul, who was kidnapped and held for ransom, marking a troubling trend in the country's crypto sector.
Crypto Millionaire's Father's Kidnapping Ends in Rescue
Crypto Millionaire's Father's Kidnapping Ends in Rescue
Father of French crypto entrepreneur freed after dramatic police operation
In a brazen daytime attack in Paris, four masked men seized the unidentified father of a wealthy crypto executive, thrusting him into a delivery van. The incident occurred in the heart of Paris on a Thursday afternoon, leaving many in shock at the audacity of the crime. After being held captive in a residence in Palaiseau, south of Paris, the victim was located and freed around eight hours later, according to police sources.
Reports indicate that the man, in his 50s, was discovered with one of his fingers missing, raising concerns about the treatment he endured during captivity. The kidnappers had reportedly demanded a ransom between 5 and 7 million euros (£4.2-5.9 million) from his son, who made his fortune in cryptocurrency.
Law enforcement officials traced the suspects using phone signals, leading to the apprehension of the four individuals involved in the crime, who are currently being interrogated. French Interior Minister Bruno Retailleau praised the swift and effective actions of the police that led to the man's rescue, applauding their exceptional work in a challenging situation.
This incident marks the third kidnapping related to France's burgeoning cryptocurrency industry this year. Just a few months prior, David Balland, co-founder of Ledger, was kidnapped alongside his wife at their central France residence, only to be rescued by police days later. He, too, suffered a severed finger and faced a ransom demand of 10 million euros (£8.5 million). Earlier in January, another man was found alive in the trunk of a car after similar extortion attempts related to another cryptocurrency personality.
These alarming occurrences highlight the increasing dangers faced by individuals in the cryptocurrency sector in France, raising questions about security measures for high-net-worth individuals in this volatile industry.
Reports indicate that the man, in his 50s, was discovered with one of his fingers missing, raising concerns about the treatment he endured during captivity. The kidnappers had reportedly demanded a ransom between 5 and 7 million euros (£4.2-5.9 million) from his son, who made his fortune in cryptocurrency.
Law enforcement officials traced the suspects using phone signals, leading to the apprehension of the four individuals involved in the crime, who are currently being interrogated. French Interior Minister Bruno Retailleau praised the swift and effective actions of the police that led to the man's rescue, applauding their exceptional work in a challenging situation.
This incident marks the third kidnapping related to France's burgeoning cryptocurrency industry this year. Just a few months prior, David Balland, co-founder of Ledger, was kidnapped alongside his wife at their central France residence, only to be rescued by police days later. He, too, suffered a severed finger and faced a ransom demand of 10 million euros (£8.5 million). Earlier in January, another man was found alive in the trunk of a car after similar extortion attempts related to another cryptocurrency personality.
These alarming occurrences highlight the increasing dangers faced by individuals in the cryptocurrency sector in France, raising questions about security measures for high-net-worth individuals in this volatile industry.
