TLDR
- French police arrested over 12 suspects linked to two crypto-related kidnapping cases in Paris, including several minors
- One case involved kidnapping the father of a crypto entrepreneur for 5-7 million euros ransom, with torture including finger amputation
- Another case was an attempted daylight kidnapping of Pierre Noizat’s daughter, CEO of crypto exchange Paymium
- Police suspect an organized criminal network recruiting young people through social media for these attacks
- France’s Interior Minister has increased security measures for crypto entrepreneurs following multiple incidents this year
French authorities conducted major raids across Paris and surrounding regions, arresting more than 12 suspects connected to two high-profile cryptocurrency kidnapping cases. The arrests included several minors facing charges of kidnapping, attempted kidnapping, and criminal conspiracy.
The investigation centers on two separate incidents that shocked France’s crypto community in May. Police believe these cases may be connected through an organized criminal network that recruits young perpetrators via social media platforms.
The first case occurred on May 1 when four hooded men kidnapped the father of a wealthy crypto entrepreneur in Paris’s 14th district. The kidnappers used a stolen delivery van disguised with fake UPS branding to carry out the abduction.
The criminals demanded between 5 and 7 million euros from the victim’s son, who had built wealth through online poker streaming and cryptocurrency investments. To pressure the family, the kidnappers severed one of the victim’s fingers and filmed the torture.
French police located the hideout in Palaiseau and rescued the 60-year-old victim. Six suspects in this case have been identified, charged, and imprisoned. The arrested individuals were young men recruited specifically for this operation, with origins in Algeria, Réunion, Chesnay, and Levallois-Perret.
Daylight Attack Caught on Video
The second incident took place on May 13 in broad daylight in Paris’s 11th district near a school. Three masked and armed men attempted to kidnap a 34-year-old woman using a van marked with Chronopost branding.
The attack was captured on video, showing the victim fighting back while bystanders initially hesitated to help. A young man eventually intervened along with the victim’s companion, forcing the attackers to flee.
The target was identified as the daughter of Pierre Noizat, CEO and co-founder of French crypto exchange Paymium. One attacker dropped what appeared to be a handgun during the escape, though police have not confirmed if the weapon was real.
Police have not made arrests in the attempted kidnapping of Noizat’s family members as of the raid date. However, investigators are exploring connections between both cases through a possible joint criminal organization.
Growing Security Concerns
These incidents follow other crypto-related crimes in France this year. In January, David Balland, co-founder of crypto hardware wallet maker Ledger, was kidnapped from his home and later rescued by police.
According to data compiled by security expert Jameson Lopp, six crypto ransom incidents have occurred in France this year, with half taking place in Paris. The pattern has prompted increased security measures across the industry.
France’s Interior Minister Bruno Retailleau implemented enhanced security protocols for crypto entrepreneurs and their families following the recent attacks. Many industry executives have hired professional bodyguards to protect against future incidents.
The Anti-Banditry Brigade conducted Monday’s raids with support from multiple police units, including the Paris Research and Intervention Brigade. Investigators opened judicial proceedings for kidnapping by organized gang with torture, criminal conspiracy, and attempted kidnapping charges.
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