French prosecutors have charged 25 people in a growing case tied to kidnappings in the crypto world. The suspects include six minors. Most of them are between 16 and 23 years old. Police say many come from the Paris area, with others from different regions and countries.
Charges follow several attacks. On May 13, four masked attackers attempted to abduct the daughter and grandson of the Paymium CEO, a cryptocurrency firm. The attack was carried out in broad daylight in Paris. The assailants inflicted injuries on the woman, her husband, and their child.
All three were taken to the hospital with minor injuries. The case did not end there. The police linked this attack to several others that had also failed. The suspects had targeted the same victims for kidnapping a day earlier.
Crypto attack foiled near Nantes
Authorities foiled another plot near Nantes at the last minute. Officials suspect the terrorists knew their targets in advance and planned the attacks. Of the 25 charged, 18 are already in pre-trial detention.
Three await hearings. Four remain under strict court supervision. The authorities say the aforementioned persons played roles ranging from attackers to planners, but they have not yet identified a mastermind. Video footage of the attack on May 13 went viral.
It captured the pace and brutality of the assault. The footage provoked concern among cryptocurrency investors as well as law enforcement officials. The attackers appeared likely to be young and reckless, impelled by greed but not necessarily a complex plot.
France confronts crypto-driven violence
This case is not isolated. Since January, several kidnappings involving cryptocurrency have prompted French law enforcement to respond. One of the victims in those cases was David Balland, a co-founder of Ledger, and his girlfriend. In another case, the father of a wealthy cryptocurrency investor was kidnapped.
Such attacks are increasingly rising daily. This has generated concern at the national level. Last month, the interior minister met with leaders of the cryptocurrency industry. They discussed additional safety measures. The police intend to collaborate more closely with cryptocurrency companies and provide protection whenever necessary.
This wave of violence has revealed the risks associated with digital assets. Young individuals attracted by the promise of quick riches are now facing serious indictments. The judiciary will determine their fate, but the damage has already shaken confidence and safety within the cryptocurrency space. France is now monitoring closely what happens legally.
