French police have arrested 12 individuals linked to two recent and high-profile kidnapping cases targeting families of prominent crypto figures.
The arrests, announced on May 26 and reported by Le Parisien, include several minors and come amid growing concerns about the safety of individuals connected to the cryptocurrency industry.
The suspects are facing multiple charges, including kidnapping, attempted kidnapping, and criminal conspiracy.
French authorities are now investigating whether a larger criminal organization, allegedly recruiting members via social media, is behind this alarming string of incidents, which have shaken the nation’s crypto community.
Crypto CEO’s Family Targeted in Failed Daylight Abduction Attempt
One of the most shocking incidents involved an attempted kidnapping in broad daylight on May 13.
The daughter and grandson of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, were targeted in an abduction attempt that unfolded on the streets of Paris.
The attackers reportedly tried to drag the two victims into a vehicle before being stopped by the victims’ resistance and intervention from bystanders.
The incident, which was caught on video and circulated widely, underscored the rising threat faced by those associated with the crypto sector.
As of now, no arrests have been made in connection with this specific incident.
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Ransom Demand of $5–7 Million in Earlier Kidnapping Case
In another related case earlier in May, French authorities successfully rescued the father of a crypto marketing entrepreneur who had been kidnapped.
The perpetrators reportedly demanded a ransom ranging between 5-7 million dollars, indicating a highly organized and financially motivated operation.
Six individuals allegedly involved in this kidnapping, including the main suspects, have been arrested and imprisoned.
Investigators are exploring the possibility that both incidents, along with other similar events, are part of a broader, coordinated scheme targeting individuals in the crypto space due to their perceived wealth and digital asset holdings.
French Government and Crypto Executives Boost Security Measures
The growing trend of crypto-related kidnappings has prompted both government and industry responses.
France’s Interior Minister, Bruno Retailleau, has ordered increased security for crypto entrepreneurs and their families, especially those based in major urban areas like Paris.
Meanwhile, executives in the sector are taking their own precautions by hiring private security and bodyguards to protect themselves and their loved ones.
According to a GitHub page curated by Jameson Lopp, co-founder of the self-custodial firm Casa, at least six such crypto ransom incidents have occurred in France this year alone.
Half of them are in Paris, highlighting the urgent need for enhanced protection and vigilance across the industry.
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