Crypto Millionaires Hunted in France: Wave of Violence and Rising Concern

In recent months, there has been a sharp increase in dangerous attacks on cryptocurrency entrepreneurs and their family members in France. The purpose in every case is the same — to physically and financially harm "crypto-rich" individuals through intimidation, kidnapping, and ransom. According to The Wall Street Journal, this alarming trend has already reached the French Ministry of the Interior.

May 13 incident: threat to personal safety

The wife and two-year-old daughter of Paymium crypto exchange CEO Pierre Noizat were subjected to an attempted kidnapping by unknown individuals in Paris. Thanks to the efforts of her husband and passersby, the woman was rescued. This incident prompted French Interior Minister Bruno Retailleau to urgently convene a meeting with the heads of crypto companies on May 16.

Ransom demands and victims

This was not the first case. In January, co-founder of the Ledger company — a producer of crypto wallets — David Ballan and his wife were kidnapped. Ballan was tortured and ransom of €10 million was demanded. One of the videos sent to his associates showed that his finger had been cut off. Later, police found Ballan and managed to rescue him. His wife was held in a separate location and was released the next day after payment. Some of the ransom money was recovered afterward.

Earlier incidents

In 2023, the father of French poker streamer Kilian Desno — who lives in Malta — was kidnapped. The attackers sent a video showing the father tied up with a gun pointed at his head. After paying the ransom, the father was released and the suspects were soon arrested. One of them later turned out to be involved in the Ballan case.

Dark messengers and inexperienced operatives

Minister Retailleau acknowledged that these incidents are not isolated but are the result of coordinated criminal group activity. Perpetrators are often recruited among young and inexperienced criminals through Telegram and Signal messengers. This partly explains why many of the kidnapping attempts fail.

Data leaks and easy targets

Over the past few years, several large-scale data leaks from cryptocurrency platforms have revealed users’ personal information, including home addresses and account holdings. Additionally, many crypto entrepreneurs publicly display their luxurious lifestyles on social media, making them ideal targets for criminals.

Not only in France

Such cases are not limited to France. In July 2024, an attempt was made to kidnap Australian crypto billionaire Tim Heath in Estonia, but he managed to escape. In September, a gang of 12 broke into the homes of wealthy crypto holders in Florida, using torture and threats to force them to transfer large sums of money.

Zamin.uz editorial note:
The world of cryptocurrency is not only about innovation — it also involves serious risks. Government bodies and entrepreneurs must prioritize security. Without a coordinated response to this growing threat, the rapid development of the crypto industry could lead to dangerous consequences.

Photo: Gonzalo Fuentes / Reuters / Scanpix / LETA Read 'Zamin' on Telegram!