France Charges 25 in Crypto Kidnapping Spree
France Charges 25 in Crypto Kidnapping Spree
French authorities have charged 25 individuals, including six minors, with kidnapping and attempted abduction linked to the country's cryptocurrency sector. The suspects, aged 16 to 23, are implicated in multiple plots targeting prominent crypto figures and their families, according to a May 31 announcement from the Paris public prosecutor’s office reported by Le Monde.
18 suspects are in pre-trial detention, three requested a deferred hearing, and four are under judicial supervision.
Failed Kidnapping Attempt Highlights Growing Threat
The investigation centers on a failed May 13 abduction attempt in Paris’ 11th arrondissement targeting the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium. A similar attempt occurred the previous day, and another was foiled near Nantes days later.
A widely circulated video shows four masked attackers assaulting Noizat’s daughter, her husband, and their child. While the victims suffered minor injuries, the incident underscores the escalating risks within the French crypto community.
The suspects hail from various backgrounds, including the Paris region, Châtellerault, Senegal, Angola, and Russia. Defense lawyers described many as "young profiles lured by money." While lower-level operatives have been apprehended, the masterminds remain at large.
Increased Security Measures and Insurance Response
This case is part of a broader trend. High-profile incidents include the January abduction of Ledger co-founder David Balland and his partner, and the May 1 kidnapping of a crypto millionaire's father—an incident linked to the current wave of attacks.
France’s Interior Minister, Bruno Retailleau, met with crypto industry professionals in mid-May to discuss protective measures. Enhanced cooperation between law enforcement and crypto firms, including home security checks, has been announced.
The increased threat has prompted insurers to develop new kidnap and ransom (K&R) policies for digital asset investors, recognizing the growing physical risks in the crypto space. Similarly, demand for personal security services among crypto executives and investors is surging.
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