Rise in ‘crypto kidnappings’ targets Bitcoin millionaires in France

In recent months, France has witnessed a disturbing surge in a new type of crime dubbed ‘crypto kidnappings,’ where wealthy individuals with significant holdings in Bitcoin and other cryptocurrencies are targeted for ransom. These violent abductions, often involving extreme measures such as torture and mutilation, have sent shockwaves through the cryptocurrency community, raising serious concerns about personal security for digital asset holders. Reports of Bitcoin millionaires and their families being kidnapped in broad daylight have highlighted the vulnerabilities of those who have amassed fortunes in the largely unregulated world of crypto. A new breed of crime emerges The term ‘crypto kidnapping’ refers to abductions orchestrated to extort cryptocurrency from wealthy individuals, often Bitcoin millionaires, whose digital wealth is both highly valuable and difficult to trace through traditional means. Unlike conventional kidnappings for cash ransom, these crimes exploit the unique nature of cryptocurrencies, which can be transferred quickly and anonymously if the victim provides access to their digital wallets. In France, a series of high-profile cases since early 2025 has brought this issue into sharp focus. According to a report by The Guardian, victims have endured horrific violence, including having fingers chopped off by attackers determined to access their crypto holdings. Similarly, NPR noted a case where French police rescued the father of a crypto entrepreneur, marking the second ransom case linked to the crypto world this year alone. These incidents are not isolated. The Telegraph recently reported on the growing frequency of such abductions on the streets of France, with even the arrest of a suspected mastermind in Morocco doing little to ease fears among crypto millionaires. The perpetrators often appear to be part of organized criminal networks, targeting individuals whose wealth is publicly known or inferred through social media displays of luxury or crypto success. This alarming trend underscores how the borderless and pseudonymous nature of cryptocurrencies, once heralded as a strength, is now being weaponized by criminals. High-profile cases shock the nation Several chilling incidents have been documented in recent news coverage. In one case reported by the BBC, the father of a crypto millionaire was kidnapped in Paris, later found by police with a missing finger in a house south of the city. The attackers reportedly demanded millions in Bitcoin as ransom. Another harrowing account involved a masked gang attempting to abduct the daughter of a cryptocurrency boss and her young son in the capital. Though she managed to escape, the incident highlighted the brazen nature of these attacks, often carried out in broad daylight. The violence associated with these kidnappings is particularly gruesome. Criminals are not only seeking access to digital wallets but are also using extreme coercion tactics to force compliance. Reports indicate that some victims have been tortured for days, with ransoms demanded in the range of millions of euros worth of Bitcoin. The anonymity of crypto transactions means that once the funds are transferred, they are nearly impossible to recover, making these crimes especially lucrative for perpetrators. Why France, and why now? France has become a hotspot for crypto kidnappings due to a combination of factors. The country is home to a growing number of tech entrepreneurs and crypto investors who have profited immensely from the Bitcoin boom over the past decade. Paris, in particular, has a vibrant startup scene, with many individuals openly discussing their crypto investments or displaying wealth tied to digital assets. This visibility makes them easy targets for criminals who scour social media for clues about potential victims. Additionally, as noted in The New York Times, some leaders in the French crypto sector argue that new European cryptocurrency regulations may inadvertently be contributing to the problem. These rules, intended to increase transparency, could be exposing high-net-worth individuals by making their holdings more traceable to sophisticated criminals. While the exact link between regulation and crime remains under debate, it is clear that the intersection of wealth, technology, and limited physical security has created a perfect storm for these abductions. The post Rise in ‘crypto kidnappings’ targets Bitcoin millionaires in France appeared first on Invezz

Source: Invezz