A crypto trader who creates content on TikTok was released a day after being kidnapped in France. The abductors let him go after finding out he couldn't pay the ransom.
Circumstances of the Kidnapping
According to a report from French radio station Europe 1, the 26-year-old TikTok trader was abducted on Friday evening while returning home to Juvisy-sur-Orge. Four assailants forced him into a stolen vehicle, reportedly causing him physical harm. They demanded over €50,000 in digital assets for his release.
Rise in Crypto-Related Kidnappings
France has experienced a rise in crypto-related kidnappings this year, prompting the country's interior minister to meet with crypto entrepreneurs to address security concerns. On May 13, there was an attempted kidnapping of the daughter of a prominent figure in the crypto industry.
New Legislative Initiative in France
On June 13, a new bill aimed at improving the personal security of crypto entrepreneurs in France was drafted. One of the proposals is to remove addresses of crypto company owners from official trade registries.
The kidnapping of the crypto trader highlights the increasing security issues in the cryptocurrency sector in France. New legislative initiatives may have an impact on the situation in the country.
