Suspect Arrests by French Authorities in Severely Violent Crypto-Related Crime
=====================================================================================
In recent months, France has seen a significant increase in crypto-related kidnappings, targeting cryptocurrency entrepreneurs and their families with violent abductions and ransom demands in cryptocurrency. This worrying trend has sparked concerns within the crypto community and led to a reassessment of risk management strategies by insurance providers.
The Kidnapping of a Crypto-Millionaire's Father
One high-profile case involved the father of a crypto-millionaire who was kidnapped in May 2025. The kidnappers demanded a ransom between €5 million and €7 million, and the victim was tortured, with reports that one of his fingers was cut off to pressure payment. Police arrested seven suspects related to this case.
The Abduction of Ledger Co-founder David Balland
Another notable incident is the kidnapping of David Balland, co-founder of French crypto hardware wallet maker Ledger, on January 21, 2025. Balland and his wife were abducted from their home, and kidnappers demanded a €10 million ransom in cryptocurrency. A video showing Balland with a finger cut off was released by the kidnappers as proof of seriousness. He was rescued after part of the ransom was paid, and several suspects were detained. Ledger paid €3 million but recovered most of the funds by freezing the involved assets.
Attempted Kidnapping of the Daughter and Grandson of a Paymium Executive
Another attempted kidnapping occurred in May 2025, when masked men tried to abduct the daughter and grandson of the CEO and co-founder of Paymium, a French crypto exchange, in Paris. However, the attackers fled after intervention.
The Parisian Man Robbed of €2 Million in Bitcoin
A violent case from August 5, 2025, involved a Parisian man who was robbed of €2 million in Bitcoin after being kidnapped and assaulted near the Arc de Triomphe. Five suspects were arrested, linked to a nightclub debt dispute.
These incidents are part of a disturbing global rise in “wrench attacks,” where criminals use coercion or physical violence to extort crypto assets. In France, especially Paris, these crimes have stirred fear and anger in the crypto community, prompting some executives to increase security and consider bodyguards.
Summary of Key Cases
| Case | Details | Ransom Demanded | Outcome | |-------|----------|-----------------|----------| | Crypto millionaire’s father (May 2025) | Kidnapped, finger cut off, €5-7 million ransom | €5-7 million | 7 suspects arrested | | Ledger co-founder David Balland (Jan 2025) | Kidnapped with wife, finger cut shown as proof, €10 million demanded | €10 million (paid €3 million) | Rescued; several suspects detained; majority of ransom recovered | | Paymium executive’s daughter (May 2025) | Attempted abduction of daughter and grandson in Paris | N/A | Attackers fled; no abduction occurred | | Paris man robbed (Aug 2025) | Kidnapped, assaulted, €2 million Bitcoin stolen | €400,000 demanded for release | 5 suspects arrested |
These cases exemplify the heightened physical risks faced by crypto entrepreneurs in France due to the intersection of digital wealth and violent crime. As the crypto industry continues to grow, it is crucial for individuals and businesses to prioritize their safety and security in the face of these growing threats.
- The alarming increase in crypto-related crimes, such as the kidnapping of a crypto-millionaire's father in May 2025, has highlighted the critical need for improved security measures within the crypto community.
- Technology companies in the crypto sector, like Ledger, are not immune to the dangers of crime-and-justice, as demonstrated by the kidnapping of its co-founder, David Balland, in January 2025.
- General-news outlets often cover the worst aspects of the intersection of finance and crime, as seen in the violent robbery of a Parisian man who was kidnapped and robbed of €2 million in Bitcoin in August 2025.
