Over 20 suspects detained amid rising incidents of crypto-related kidnappings in France.
**Wave of Arrests in France Following Cryptocurrency Kidnapping Schemes**
**Wave of Arrests in France Following Cryptocurrency Kidnapping Schemes**
French police crackdown on plots targeting crypto entrepreneurs reveals growing concerns over their safety.
In a significant law enforcement action, French police have taken over 20 individuals into custody linked to various kidnapping schemes involving cryptocurrency entrepreneurs and their family members. This crackdown follows a series of alarming incidents, including a recent abduction attempt in Nantes and a foiled kidnapping in Paris that occurred in May.
Authorities highlighted that these criminal events have raised alarm over the vulnerability of individuals with significant cryptocurrency assets, making them prime targets for ransom-seeking criminals. In response to these concerns, French Interior Minister Bruno Retailleau announced plans earlier in the month to enhance protective measures for the nation's crypto industry leaders and their families.
According to reports from Franceinfo, the arrests included a collaborative effort resulting from a failed abduction involving a masked gang that targeted the daughter and young grandson of Pierre Noizat, co-founder of the French Bitcoin exchange Paymium, in Paris on May 13. Police acted quickly, thwarting the kidnapping before it could be executed.
Meanwhile, several other kidnapping attempts have surfaced throughout France over recent months. One striking incident involved the kidnapping of a cryptocurrency millionaire's father on May 1, where kidnappers demanded a ransom of 5-7 million euros. He was found with a severed finger days later, further illustrating the brutal tactics employed by these criminals.
Compounding these issues, David Balland, a notable name in the cryptocurrency sector as the co-founder of Ledger, was kidnapped alongside his wife at their home earlier this year. Their ordeal ended with a similar outcome, as they were rescued by police after the criminals had requested a staggering 10 million euro ransom.
In light of these rising threats, Minister Retailleau convened an urgent meeting with industry leaders in mid-May, reiterating the government's commitment to harnessing “the entire state apparatus” to identify and apprehend those responsible for these violent crimes and restore safety to those in the cryptocurrency sector.
Authorities highlighted that these criminal events have raised alarm over the vulnerability of individuals with significant cryptocurrency assets, making them prime targets for ransom-seeking criminals. In response to these concerns, French Interior Minister Bruno Retailleau announced plans earlier in the month to enhance protective measures for the nation's crypto industry leaders and their families.
According to reports from Franceinfo, the arrests included a collaborative effort resulting from a failed abduction involving a masked gang that targeted the daughter and young grandson of Pierre Noizat, co-founder of the French Bitcoin exchange Paymium, in Paris on May 13. Police acted quickly, thwarting the kidnapping before it could be executed.
Meanwhile, several other kidnapping attempts have surfaced throughout France over recent months. One striking incident involved the kidnapping of a cryptocurrency millionaire's father on May 1, where kidnappers demanded a ransom of 5-7 million euros. He was found with a severed finger days later, further illustrating the brutal tactics employed by these criminals.
Compounding these issues, David Balland, a notable name in the cryptocurrency sector as the co-founder of Ledger, was kidnapped alongside his wife at their home earlier this year. Their ordeal ended with a similar outcome, as they were rescued by police after the criminals had requested a staggering 10 million euro ransom.
In light of these rising threats, Minister Retailleau convened an urgent meeting with industry leaders in mid-May, reiterating the government's commitment to harnessing “the entire state apparatus” to identify and apprehend those responsible for these violent crimes and restore safety to those in the cryptocurrency sector.
