The recent kidnapping of the father of a well-known crypto entrepreneur in France has sparked public concern and drawn attention to security issues in the crypto industry.
Circumstances of the Kidnapping
On December 31, 2024, five armed men attacked a man and his wife in their home in Saint-Genis-Pouilly, near the Swiss border. The assailants demanded ransom money from their son, who is a crypto influencer. When the cash was not provided, they kidnapped the father. He was found hours later in the trunk of a car in Sarthe, nearly 435 miles away. He had been beaten and doused in petrol. His wife was found tied up at home.
Arrested Suspects
Police arrested five individuals, four adults aged 18 to 22 and one 17-year-old minor. Three of the adults had previous criminal records for violence, theft, and drug trafficking, while the minor had a record for aggravated theft. They are now facing charges including kidnapping, armed robbery, and assault.
Similar Crimes in France
In recent months, France has faced several crimes targeting individuals connected to cryptocurrency. In May, authorities charged 25 individuals for attempting to kidnap various crypto businesspeople and their family members. One of the most alarming instances was that of Pierre Noizat, CEO of the crypto firm Paymium, when his grandchildren were targeted for kidnapping. Another disturbing case occurred in June when five men in northern France were arrested for planning to kidnap a young man and his mother, threatening physical harm.
While police have not found any connections between this latest kidnapping and other recent cases, concerns over the safety of individuals involved in cryptocurrency continue to grow.
