On May 3, 2025, French police freed a man kidnapped in the southern sector of Paris. He is the father of a cryptocurrency millionaire who was targeted for a ransom of €5 to €7 million.
Four Kidnappers Demanding €5-7 Million Ransom
On May 3, 2025, French police successfully freed a man kidnapped in Paris's southern 14th arrondissement. He is the father of a cryptocurrency millionaire taken by four masked men demanding a multimillion-euro ransom. The victim and his son faced prior threats, indicating the risks involved in the cryptocurrency market. Both owned a crypto marketing firm in Malta, which has been involved in significant financial dealings.
Authorities Alarmed by Rising Crypto Targeting
French authorities are concerned about increased targeting of cryptocurrency figures. Police commend the decisive action taken for the hostage's release. The incident underscores potential security concerns for those in the crypto space, prompting discussions on preventative strategies. Market analysts believe such incidents might lead to enhanced security measures within the industry. Historical data points to similar cases affecting market confidence.
Repeated Threats in the Cryptocurrency Industry
In January 2025, a similar kidnapping involved Ledger's co-founder, highlighting repeated threats to crypto industry individuals in France. Both incidents involved demands for ransoms and ended in police rescue operations. Experts from Kanalcoin suggest these incidents may lead to stricter security protocols for crypto firms. It is anticipated that the focus will increase on balancing privacy and security requirements for industry stakeholders.
The kidnapping of the father of a cryptocurrency millionaire in Paris highlights the growing risks for individuals in the crypto industry and emphasizes the need for enhanced security measures in the sector.
