Bitcoin kidnappings: A recent shocking instance highlighted the growing threat. French police are looking at a troubling pattern of kidnappings targeting cryptocurrency investors. Demanding an enormous payback from his crypto-millionaire son, a 60-year-old dad was viciously beaten and had a finger amputated by his kidnappers.
After more than two days of captivity, the victim—who co-owned a bitcoin marketing company with his son—was rescued from a property south of Paris on Saturday night. Authorities worry much more about possible severe mutilations that might have happened had he not been released.
Armed Kidnapping in Paris Ends in Police Rescue
The victim was kidnapped in Paris’s 14th arrondissement on Thursday morning at about 10:30 AM. Four armed intruders with ski masks drove him into a delivery van against his will, setting off instant alert. Around 20 kilometres south of Paris, in Essonne, the man was released following a police operation at 9 PM on Saturday. Five suspects were taken into custody during the operation—all in their twenties.
Bitcoin Family Targeted by Threats
The French state prosecutor confirms the victim to be the father of a wealthy bitcoin entrepreneur. Although the crime entailed a ransom demand ranging from €5 million to €7 million, this sum was never paid. Confirming earlier claims, the victim’s wife informed authorities that the family had earlier been subjected to threats connected to their wealth. The five suspects—between the ages of 20 and 27—are under police questioning right now.
Rising Bitcoin Kidnappings: The David Balland Incident
This kidnapping follows a growing pattern of bitcoin-related crimes in France and elsewhere. The attack centres on another horrible episode involving Ledger co-founder David Balland, a $1 billion cryptocurrency startup. On January 21, Balland and his friend were abducted from their house in Méreau, central France. Like the last victim, Balland had a finger chopped off during the assault.
In Balland’s case, the assailant insisted on payment of about € 10 million in cryptocurrencies. Balland was recovered during a police raid, but the next day, his business partner was discovered bound in an Essonne car park.
2024 Crypto Kidnapping: Family Targeted in Violent Attack
Those involved in the Bitcoinace now face much more risk—another kidnapping effort in December 2024 aimed at the father of a Dubai-based French cryptocurrency influencer. Before piling him into a car, the attackers shackled his wife and daughter. Luckily, the women were released unhurt once they called the police. But the father was discovered 24 hours later, clearly exhibiting violent behaviour, trapped in the boot of a car in Normandy.
Rising Threat of Crypto-Driven Crimes
The risk of wealth-driven crimes is getting too real as cryptocurrencies alter the financial scene. Both investors and influencers run more danger since criminals target wealthy people engaged in the crypto sector. This unsettling tsunami of kidnappings emphasises in the internet era the need for personal security and awareness.
