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.
More than 12 individuals connected to two prominent crypto-related kidnapping incidents in Paris have been taken into custody by French authorities, according to local media reports.
Several minors were reported to be among those arrested, with charges filed against them including kidnapping, attempted abduction, and involvement in a criminal conspiracy, according to a May 26 report by Le Parisien.
The possibility that a criminal organization is responsible for two recent kidnappings connected to cryptocurrency is currently being investigated by French authorities, with social media platforms believed to have been utilized for the recruitment of individuals involved.
On May 13, an alleged kidnapping attempt was reported in which three individuals were said to have attempted to abduct the daughter and grandson of Pierre Noizat, the co-founder and CEO of the French cryptocurrency exchange Paymium, in broad daylight in Paris.
The alleged kidnapping attempt, which was recorded by bystanders on video, was reportedly foiled after Noizat’s daughter resisted and nearby individuals intervened to prevent the abduction.
In a separate incident earlier in May, the father of a cryptocurrency marketing entrepreneur was rescued by French authorities after being abducted and held for a ransom demand ranging between 5 million and 7 million euros.
It was reported by Le Parisien that no arrests have yet been made in connection with the attempted abduction of Noizat’s family. However, up to six individuals believed to be involved in the kidnapping of the crypto entrepreneur’s father have been identified and placed in custody, including the suspected kidnappers themselves.
Earlier this year, David Balland, the co-founder of the cryptocurrency hardware wallet company Ledger, was abducted from his residence, with the captors reportedly demanding cryptocurrency as ransom. He was later rescued by French authorities a few days after the incident.
Security Measures Intensified
Security measures for cryptocurrency entrepreneurs and their families residing in France were heightened earlier this month by Interior Minister Bruno Retailleau, following a string of high-profile incidents targeting individuals in the sector.
A GitHub page maintained by Jameson Lopp, a cypherpunk and co-founder of the self-custodial company Casa, has documented six reported incidents in France this year involving criminal acts where cryptocurrency ransoms were demanded. According to the page, half of these occurrences have been recorded in Paris.
In response, enhanced security measures are being adopted by industry executives, with professional bodyguards being employed as a precaution to discourage potential threats from malicious actors.
