Paris is hit by crypto crime: the CEO’s family is targeted in broad daylight

On a busy Parisian street this week, an armed group attempted to kidnap both the grandson and granddaughter of a well known French crypto executive.

The attempted abduction in the 11th District in broad daylight has raised new concerns about the rise in violent crime that is linked to cryptocurrency wealth.

Paris kidnapping foiled by crypto CEO’s daughters: they fought off attackers on the street.

This could have been a nightmare. Four masked men attacked a family walking with a child on Tuesday. Their target? Their target? The attackers attempted to force the woman and her son into their vehicle. But things did not go according to plan.

The woman’s friend was assaulted when she attempted to defend them. But she didn’t freeze—instead, she grabbed one of the attacker’s guns and flung it away. She screamed loud enough to attract the attention from nearby pedestrians. The kidnappers then fled the scene, leaving the van in their wake.

All three victims sustained minor injuries, and were transported to the hospital. The woman, according to the police, is the daughter and co-founder CEO of Paymium a French cryptocurrency trading exchange.

France is experiencing a surge in cyber crime due to high-profile attacks

Unfortunately, this is not an isolated incident. Earlier this year, in a headline-grabbing incident, David Balland—a co-founder of Ledger, a major crypto firm—was kidnapped along with his partner. Balland was kidnapped by a group of men who cut off Balland’s finger in order to get a cryptocurrency ransom. Nine people were arrested since then in connection with this crime.

The extortion didn’t stop. Another gang kidnapped an individual in May to try and extort a crypto-millionaire relative. The operation was ended by a police raid, which led to seven arrests.

Authorities believe that these attacks are not random but rather part of an alarming pattern. Organised criminals target people who have visible ties to the crypto-industry.

An increase in crime in France is a result of the rising crypto wealth

Cryptocurrencies might be digital but their danger is real. Criminals are attracted to crypto holders because they have fortunes in their phones or online wallets and can make transactions outside of traditional banking systems.

The latest attack occurs at a moment when France is already grappling with an increase in organised crime. Last year, heavily-armed gunmen ambushed a prisoner van in an attempt to free “The Fly”, a drug trafficker convicted of smuggling drugs. Two prison guards were killed during the ambush. The fugitive escaped and was caught later in Romania.

These dramatic cases are raising concerns that crypto assets while revolutionary also allow for a new wave violent crime.

Since years, groups like the Financial Action Task Force have warned that cryptocurrencies could become a playground to launder money and finance illicitly. FATF warns that crypto assets can become a “safe-haven” for criminal activity, especially if regulations are lax.

Tuesday’s incident is yet another reminder that the crypto world isn’t just about innovation and investment—it’s also about real people, real risk, and now, real danger.

Cryptosecurity warning: Why real-world protection is needed for digital wealth

Experts agree that it is time to check the reality of crypto investments. As criminals become more brazen and as crypto fortunes rise, it is important for people to be realistic. People with large crypto holdings might need to rethink their security, from digital protections to planning for real-world safety.

The message for regulators and law enforcement is also clear: As the crypto industry grows, it is becoming more important than ever to have oversight, protection, and rapid responses.

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