Kidnappers increasingly target crypto millionaires in France, Spain

The French police are investigating kidnappings involving millionaire cryptocurrency investors. A 60-year old man was stabbed in the finger by attackers demanding that his son, who is a crypto-rich investor, pay a ransom.

The Guardian reported on the fact that this issue is not just a French issue, but one that has become increasingly concerning in Spain and Belgium.

This was the latest of many kidnappings in France and Western Europe of crypto figures. The man, who owns a crypto-marketing company with his son owned, was released from a home south of Paris, on Saturday night. He was detained for more than 2 days. Investigators were concerned that if the man had not been saved, he could have suffered further mutilations.

He has been kept anonymous for security purposes, but the police have said that four men wearing ski-masks grabbed him in broad daylight on Thursday at 10.30am as he walked along a street in Paris’s 14th arrondissement. He was forced to get into a van.

Rescued by the police before paying ransom

Armed police rescued the kidnap suspect in a raid at a house in Essonne, 20km (12miles) south of Paris. Five suspects aged in their 20s were arrested and questioned by police on Sunday.

“The victim seems to be a father who has made his fortune with cryptocurrencies. The crime involved a ransom request,” said the state prosecutor.

The victim’s spouse told investigators her husband and son, both of whom owned a crypto-marketing firm in Malta, received threats before.

Le Parisien reported that the attackers had demanded a ransom of €5-7m (£4-6m), which was unpaid.

Ledger’s co-founder also kidnapped and rescued

This is just the latest kidnapping of cryptocurrency figures that has taken place in France and neighboring countries.

David Balland, another victim. He is co-founder and CEO of Ledger – a wallet manufacturer that is popular for its cold storage. The company is worth more than $1bn. Balland was taken with his partner on January 21st from their home in Méreau, near Bourges in central France. His captors cut off his finger.

Balland’s kidnappers sent a video and the finger to his partner asking for about €10m. Balland was soon freed by a police raid.

In that case, nine suspects, including the 26-year-old alleged ringleader with a prior kidnapping on his police record, are being investigated. A second case occurred in Spain, Belgium and late 2024.