Attempted Kidnapping of Crypto CEO’s Family Sparks Industry-Wide Alarm

A violent kidnapping attempt involving the family of Pierre Noizat, CEO and co-founder of French crypto exchange Paymium, has shaken the crypto community and reignited concerns around the rising trend of in-person attacks on digital asset holders. On May 13, Noizat’s daughter and grandson were targeted in a brazen daylight assault in Paris’ 11th district. According to France24, three masked men tried to force the victims into a van while they were walking. The daughter’s male partner was physically attacked while trying to defend them. Despite the aggression, Noizat’s daughter managed to disarm one of the attackers during the scuffle, throwing the weapon away. Passersby soon intervened, prompting the kidnappers to flee. All three victims were injured and later hospitalized. The abandoned van was recovered nearby, and the case is now being investigated by the Brigade for the Suppression of Banditry, a specialized unit under the French Ministry of the Interior. Crypto Community Reacts This incident is not isolated. Just weeks prior, on May 3, Paris police rescued the father of an entrepreneur after he was held hostage in a €7 million ($7.8 million) ransom scheme . And earlier this year, on January 21, David Balland—co-founder of Ledger—was abducted from his home and held captive until police secured his release the following night. Industry leaders and analysts are speaking out with urgency. Michael Englander, CEO of Polish crypto exchange Plasbit, took to X to say, “If you’re in crypto and still flaunting it online, you’re not just [foolish], you’re putting your family in danger.” Sasha Hodder, a crypto lawyer, echoed similar concerns, stating , “Crypto theft is evolving. It’s not just social engineering or SIM swaps anymore.” Rising Frequency and Underreporting of ‘Wrench Attacks’ Indeed, the tactics have become more physically invasive. So-called “wrench attacks”—named after the hypothetical threat of someone using a wrench to force a victim to give up their crypto keys—have become alarmingly common. In one such recent case, Las Vegas police reported that three teenagers kidnapped a man at gunpoint after a local crypto event, stealing $4 million in crypto and NFTs. A list compiled by cypherpunk Jameson Lopp shows 22 cases of offline digital asset-related theft already this year. These attacks often go unreported due to fears of revictimization. A 2023 study by the University of Cambridge confirmed that such assaults are frequently perpetrated not just by professional criminals, but sometimes even by family members or acquaintances. As digital asset wealth grows more visible, the community is being forced to grapple with its real-world vulnerabilities. The post Attempted Kidnapping of Crypto CEO’s Family Sparks Industry-Wide Alarm appeared first on TheCoinrise.com .

Source: The Coin Rise