French authorities are investigating a string of kidnappings involving cryptocurrency investors, triggered by a recent incident where a 60-year-old man lost a finger to his captors who demanded a ransom from his wealthy son. The victim, who co-runs a cryptocurrency marketing business with his son, was abducted in broad daylight in Paris and held for more than two days before being rescued by armed police.
The man was taken on a Thursday morning by four masked assailants who forced him into a van. He was found in a house located approximately 20 kilometres south of Paris, where police apprehended five suspects, all in their twenties. The state prosecutor confirmed that the kidnapping was linked to ransom demands aimed at the victim’s cryptocurrency millionaire son.
According to reports, the attackers sought between €5 million and €7 million but did not receive the payment. The victim’s wife informed investigators that both she and her husband had previously faced threats due to their son’s substantial earnings in the crypto sector.
This incident is part of a worrying trend affecting figures in the cryptocurrency industry throughout France and surrounding areas. Notably, David Balland, a co-founder of the prominent crypto firm Ledger, was kidnapped earlier this year along with his partner, suffering a similar fate of finger mutilation during captivity before they were both rescued during a police operation.
In a separate case from December 2024, the father of a French cryptocurrency influencer was also targeted in a kidnapping attempt. This man was taken from his home in eastern France while his wife and daughter were bound. Their son was then contacted for ransom, prompting police involvement. Fortunately, the women were released quickly, but the father was discovered a day later in distressing condition.
Moreover, there have been additional reports of similar abductions in Spain and Belgium over the past few months. The surge in kidnappings catalogued indicates a disturbing trend regarding the safety of those involved in the volatile cryptocurrency market, raising alarms about the protection of high-net-worth individuals within this rapidly evolving sector.