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Twelve suspects have been arrested across France in connection with a spate of violent kidnapping attempts targeting high-profile figures in the cryptocurrency world, in what has become a growing pattern of threats against digital asset executives and investors.
The arrests, carried out by France’s elite anti-banditry police unit, follow two recent kidnapping attempts in Paris, including the brazen daylight abduction of the father of a prominent crypto investor and an attempted snatching of a woman later identified as the daughter of Paymium CEO Pierre Noizat.
Authorities say the suspects include several minors and were recruited through social media by pseudonymous ringleaders. Charges include criminal conspiracy, kidnapping, and attempted kidnapping. Among those arrested are individuals born in Algeria, Réunion, and various Parisian suburbs.
The most severe incident occurred on May 1, when four masked men kidnapped the victim using a fake UPS delivery van and demanded a ransom between €5 million and €7 million in cryptocurrency. The man was ultimately rescued, but not before his captors severed one of his fingers.
A second attempted abduction took place on May 13 in Paris’ 11th arrondissement. The perpetrators were scared off by two passersby, averting what would have been another high-profile crypto-related kidnapping.
The two cases are the latest in a worrying trend in France, which has recorded five physical crypto attacks this year—more than any other country, according to blockchain security expert Jameson Lopp.
French Interior Minister Bruno Retailleau has pledged enhanced security measures for crypto executives, including direct emergency police access and home security assessments.
The wave of kidnappings has sent shockwaves through France’s crypto community. Several founders and executives are reportedly stepping up personal security, hiring bodyguards, or taking other precautions.
As France’s crypto sector grapples with the fallout, the arrests may provide some relief, but for many, the fear lingers.
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