TLDR:
- The father of a crypto millionaire was rescued by French police after being kidnapped for ransom
- Kidnappers severed the victim’s finger and demanded €5-7 million in cryptocurrency
- Five suspects in their twenties were arrested during a police raid in Essonne
- This marks the third crypto-related kidnapping in France this year
- Security experts call these incidents “wrench attacks” where physical violence is used to override crypto’s digital security
A coordinated police raid in France has freed the father of a cryptocurrency entrepreneur who was held hostage for days after being kidnapped by masked men demanding millions in crypto ransom.
The victim, whose identity remains undisclosed for security reasons, was abducted Thursday morning in Paris’s 14th arrondissement. Four masked men forced him into a delivery van in broad daylight, according to reports from Le Monde and Agence France-Presse.
French authorities located the victim Saturday night at a rental property in the Essonne region south of Paris. Five suspects, all in their twenties, were arrested during the operation led by specialized cybercrime and intervention units.
Growing Trend of Crypto Kidnappings
In a disturbing act of violence, the kidnappers severed one of the victim’s fingers while demanding between €5 million ($5.6 million) and €7 million ($7.95 million) in cryptocurrency. No ransom was paid before the rescue, according to French authorities.
The victim’s wife later told investigators that her husband and their son operated a cryptocurrency marketing firm registered in Malta. This information helped police connect the dots in what appears to be a targeted attack based on the family’s crypto wealth.
This incident represents the latest in what security experts call “wrench attacks” – physical threats used to override cryptocurrency’s digital security measures. The term comes from a 2012 comic, according to researchers at the University of Cambridge and University College London.
Just months earlier in January, Ledger co-founder David Balland was kidnapped and mutilated in France before being rescued by police. Ledger’s CEO Pascal Gauthier called it a “traumatic situation that we hope will never be repeated.”
Jameson Lopp, co-founder of Bitcoin security firm Casa, maintains a repository tracking physical Bitcoin attacks. This Paris incident marks the 21st attack documented this year alone.
Crypto kidnappings have become a global problem. In November 2024, WonderFi CEO Dean Skurka was kidnapped in Toronto and forced to pay a $1 million cryptocurrency ransom.
In February 2025, six individuals in Chicago were charged with kidnapping a family and their nanny, holding them for five days until they surrendered $15 million in cryptocurrencies.
Even public figures aren’t safe. Online streamer Amouranth was held at gunpoint during a home invasion in March 2025 when armed suspects demanded her cryptocurrency keys. Four suspects were later arrested in Texas.
Rigel Walshe, a developer at Swan Bitcoin and former police officer, recommends crypto holders practice “relaxed awareness” and stay “alert and prepared” to prevent becoming victims of these attacks.
According to security experts, the frequency of wrench attacks appears to correlate with the growth of the cryptocurrency market and wider adoption.
The Paris prosecutor’s office spokesperson confirmed the victim has been reunited with his family. The investigation into the kidnapping continues as authorities work to build their case against the five suspects currently in custody.
The latest rescue operation showcases the growing sophistication of law enforcement in responding to crypto-related crimes as these incidents become more common across the globe.
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