According to a report by Le Parisien, suspicions have been raised by French authorities regarding the involvement of an organized criminal group in connection with two recent alleged kidnappings linked to cryptocurrency.
French authorities have taken more than 12 individuals into custody in connection with two prominent crypto-related kidnapping incidents in Paris, according to local media reports.
Authorities arrested several individuals, including minors, and filed charges such as kidnapping, attempted abduction, and criminal conspiracy against them, according to a May 26 report by Le Parisien.
French authorities are actively investigating whether a criminal organization orchestrated two recent kidnappings linked to cryptocurrency. Investigators believe the group used social media platforms to recruit individuals involved in the crimes.
On May 13, three individuals allegedly attempted to abduct the daughter and grandson of Pierre Noizat, the co-founder and CEO of French cryptocurrency exchange Paymium, in broad daylight in Paris. Authorities later reported the kidnapping attempt.
Bystanders recorded the alleged kidnapping attempt on video, and Noizat’s daughter resisted the attackers. Nearby individuals quickly intervened and successfully prevented the abduction.
In a separate incident earlier in May, French authorities rescued the father of a cryptocurrency marketing entrepreneur after kidnappers abducted him and demanded a ransom between 5 million and 7 million euros.
Le Parisien reported that authorities have not yet made any arrests in connection with the attempted abduction of Noizat’s family. However, they have identified and placed up to six individuals in custody, including the suspected kidnappers involved in the abduction of the crypto entrepreneur’s father.
Earlier this year, kidnappers abducted David Balland, co-founder of the cryptocurrency hardware wallet company Ledger, from his residence and reportedly demanded cryptocurrency as ransom. French authorities rescued him a few days after the incident.
Security Measures Intensified
Earlier this month, Interior Minister Bruno Retailleau heightened security measures for cryptocurrency entrepreneurs and their families in France after a string of high-profile incidents targeted individuals in the sector.
Jameson Lopp, a cypherpunk and co-founder of the self-custodial company Casa, maintains a GitHub page that documents six reported incidents in France this year involving criminal acts with cryptocurrency ransom demands. The page notes that half of these incidents occurred in Paris.
In response, industry executives are adopting enhanced security measures and hiring professional bodyguards to deter potential threats from malicious actors.
