Criminals in France snatch up entrepreneurs involved in digital currencies, demanding ransom payments.
The Latest Crackdown on Crypto Kidnappings: What's Happening in France
In a chilling turn of events, the French authorities are stepping up their efforts to combat the new wave of crime targeting cryptocurrency aficionados. The latest case involves a wealthy crypto entrepreneur's father, who was abducted in Paris and held for ransom, marking another instance of such injustice in the digital asset management sphere.
The saga unfolded on a Thursday morning in Paris, as the police were alerted to the kidnap. In a statement released on Sunday, the prosecutor's office confirmed the victim's connection to the cryptocurrency world. The victim's son, it seems, amassed his fortune through digital currencies. The specifics regarding their identities were kept under wraps.
The victim was found in a house located in the Essonne region south of Paris and was rescued on Saturday night. Though details about his injuries are scarce, French media sources suggest that the alleged kidnappers demanded a hefty ransom and severed one of the victim's fingers.
In their pursuit of the perpetrators, the authorities rounded up no less than five individuals. Four were apprehended either in or near the hostage's confinement, while the fifth was found commanding a vehicle believed to have been involved in the abduction.
The ongoing investigation is looking into a range of possible criminal charges, including kidnapping "with torture or a barbaric act." This incident bears striking resemblance to the case that occurred in January 2025, when David Balland, co-founder of the French crypto-wallet firm Ledger, and his wife were kidnapped from their home in central France. Illicit forces demanded a ransom in cryptocurrency from another of Ledger's co-founders, leading to a dramatic rescue by France's elite GIGN unit within days.
These cases highlighted the emergence of organized crime networks exploiting the digital currency world, using violent extortion tactics. The French authorities are leaving no stone unturned in their efforts to combat this reigning terror.
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