June 13, 2025
By Our Correspondent
Police in France have dismantled a criminal network targeting wealthy individuals in the crypto industry, arresting twelve suspects in connection with multiple brutal kidnapping cases. The nationwide crackdown follows two disturbing incidents that involved ransom demands in cryptocurrency and acts of torture.
On May 27, authorities conducted coordinated raids in Paris and the Loire-Atlantique region, detaining at least twelve suspects including minors. The arrests are linked to the May 1 abduction of the father of a crypto millionaire in Paris’s 14th arrondissement. Posing as delivery drivers in a stolen UPS van, the kidnappers seized the man and later demanded a ransom between €5 million and €7 million in crypto from his son. In a horrifying move, they cut off one of the victim’s fingers and sent a video to pressure the ransom payment. He was rescued two days later, and six suspects were arrested at the location.
Just two weeks later, on May 13, another group attempted to kidnap the daughter and grandchild of Pierre Noizat, CEO and co-founder of crypto exchange Paymium. The attackers used a Chronopost-branded van in an effort to disguise their operation. Their plan failed after a crowd intervened, and the suspects fled the scene. Though no arrests were made immediately, investigators believe the same organized network was behind the attack.
The Brigade de Répression du Banditisme (BRB), France’s elite crime unit, led the operation. More than 230 officers, including hostage negotiators and crypto specialists, participated in the raids. Authorities revealed that the network recruited young people through social media and operated with a clear hierarchy, focusing on crypto entrepreneurs and their families.
These incidents highlight a growing security concern for digital asset holders. Earlier this year, David Balland, co-founder of Ledger, was kidnapped and tortured before police rescued him. The French government has responded with increased support for crypto professionals, including direct police hotlines and home security upgrades.
The crackdown sends a strong message to criminals while raising awareness of the new risks faced by those in the Web3 space.
