French authorities have acted decisively in response, following kidnappers’ recent targeting of prominent crypto businessmen and their families.
Authorities have reported that two kidnappings were completed, with a further attempt, on major players in France’s burgeoning crypto economy. Interior Minister Bruno Retailleau stressed that the incidents are seemingly interlinked and need swift intervention.
Law enforcement has begun offering top-level security support to those affected, including direct access to emergency police lines and home security inspections.
Officers will also receive training to detect and prevent crimes related to illegal use of crypto assets, improving their ability to deal with new forms of financial crime.
Authorities added that these new protections will cover entrepreneurs’ family members, many of whom remain vulnerable to similar threats.
The move comes after criminals tried to kidnap the daughter and grandson of Pierre Noizat, the CEO of cryptocurrency platform Paymium, in broad daylight on Tuesday. The attackers attempted to seize the pair from the street but were interrupted before they could flee.
Government acts after Crypto-Related abductions rise
Earlier this month, kidnappers abducted the father of another unnamed crypto entrepreneur. In a separate incident, David Balland, co-founder of Ledger, was also taken and later rescued, raising public fears over the safety of crypto executives.
Investigators suspect that the motive in all three cases involves extortion tied to digital currency holdings. Interior Minister Retailleau met with crypto sector leaders Friday morning to discuss how France could better defend this emerging industry.
He assured them that protecting professionals in this space would become a key priority. France’s prosecutor of organized crime is now in charge of all three cases, and police have arrested several suspects.
Retailleau confirmed that all signs point to a coordinated attack by organized groups. These groups are specifically targeting individuals involved in cryptocurrencies and their families.
