French Authorities Charge 25 in Crypto-Related Kidnappings, Unveiling a Growing Threat

French law enforcement has taken significant action against a wave of kidnappings and attempted abductions targeting the nation’s burgeoning cryptocurrency sector. Twenty-five individuals, including six minors, have been charged in connection with these audacious plots, sending ripples of concern through the digital asset community. The arrests underscore a disturbing escalation in criminal activity specifically aimed at prominent crypto figures and their families, a trend that has drawn the attention of national authorities and the insurance industry alike. The Paris public prosecutor’s office announced the charges on May 31, as reported by Le Monde. The accused, aged between 16 and 23, are implicated in multiple schemes. Currently, eighteen suspects are in pre-trial detention, three have sought a deferred hearing, and four remain under judicial supervision. The investigation’s focal point is an abduction attempt on May 13 in Paris’s 11th arrondissement, where the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium, were targeted. Authorities revealed this was not an isolated incident, with a similar plot thwarted the previous day and another near Nantes days later. Widely circulated social media footage of the May 13 incident depicted four masked assailants assaulting Noizat’s daughter, her husband, and their child, who fortunately sustained only minor injuries. Lower-Level Operatives Apprehended The backgrounds of the suspects are diverse, spanning individuals born in the Paris region , Châtellerault, Senegal, Angola, and Russia. Defense lawyers have largely characterized them as “young profiles lured by money and caught in a situation beyond their control,” suggesting a recruitment dynamic where financial enticement played a significant role. This Paris case is emblematic of a broader surge in crypto-related kidnappings across France this year. Notable incidents include the January abduction of Ledger co-founder David Balland and his partner, as well as the May 1 kidnapping of a crypto millionaire’s father, an event investigators believe is directly linked to the current spate of attacks. While law enforcement has successfully apprehended lower-level operatives and logistics coordinators, the masterminds orchestrating these elaborate schemes continue to elude capture. Industry Responds to Heightened Kidnappings The growing threat has not gone unnoticed at the highest levels of the French government. Interior Minister Bruno Retailleau convened with crypto industry professionals in mid-May to strategize protective measures. Subsequently, the ministry announced enhanced cooperation between law enforcement and crypto firms, including police and gendarmerie conducting home security checks. In parallel, the insurance sector is rapidly adapting to this environment of kidnappings. Insurers are now developing specialized kidnap and ransom (K&R) policies tailored for digital asset investors, with at least three firms reportedly preparing such offerings. Furthermore, executives and investors in the crypto industry are increasingly seeking personal security services. Private firm Infinite Risks International reported a surge in requests for bodyguards and protection contracts from high-profile figures in the crypto space, highlighting a clear shift towards proactive security measures in response to these escalating threats. The post French Authorities Charge 25 in Crypto-Related Kidnappings, Unveiling a Growing Threat appeared first on TheCoinrise.com .