- French authorities have charged 25 individuals, many of them teenagers, in connection with a series of coordinated kidnapping attempts in Paris.
- The investigation intensified after a failed daylight abduction attempt on May 13 against the daughter and grandson of Paymium CEO Pierre Noizat.
- The suspects, aged 16 to 23, were reportedly lured into the criminal ring with promises of fast money.
A sweeping crackdown has shaken the French crypto community. According to reports, authorities have charged 25 individuals, many of them who happen to be teenagers, in connection with a coordinated series of kidnapping attempts against crypto industry figures and their families.
The case has exposed just how vulnerable crypto entrepreneurs are becoming, and just how bad crypto crime is becoming, especially when leaning towards real-world violence.
High-Profile Abduction Attempts
The investigation is centred around a recent failed kidnapping attempt on May 13th on the streets of Paris. During this incident, masked attackers targeted the daughter and grandson of Pierre Noizat, the CEO of crypto firm Paymium, in broad daylight in the city’s 11th arrondissement.
The incident was captured on video and widely shared online, in what appeared to be four masked individuals physically assaulting the victims, who sustained minor injuries.
Authorities later revealed that this wasn’t the attackers’ first attempt. The same family had been targeted a day earlier in an unsuccessful abduction, and another similar operation was prevented near the city of Nantes just days later.
It was later discovered that these weren’t single events but rather part of a more disturbing pattern. In fact, police say the attackers had planned multiple kidnappings, some of which were thwarted before they could be executed.
The victims appeared to be selected based on their connections to the crypto space, in a sign of just how appealing digital asset holders have become to criminal elements.
Young Suspects and Grave Crimes
What makes this case particularly disturbing is the age and background of those arrested. The 25 individuals charged range in age from just 16 to 23.
Eighteen of them are now in pre-trial detention, while three have requested delayed hearings and four remain under judicial supervision. Among the suspects are six minors.
Most of them were born in the Paris region, but others hail from places such as Senegal, Angola, Russia, and Châtellerault. Many were reportedly lured into the kidnapping ring with promises of fast money, and were likely recruited via social media platforms where criminal recruiters prey on young users.
Nationwide Manhunt and Anti-Gang Operations
The investigation became even more heated after a series of coordinated police raids on May 27 across the Île-de-France and Loire-Atlantique regions. It was led by the Brigade de Répression du Banditisme and resulted in the mass arrest of suspects believed to be involved with the Crypto kidnapping ring.
So far, authorities are treating this as a larger criminal conspiracy. Although those arrested include foot soldiers and logistical coordinators, police say the real masterminds behind the operation are still on the loose.
Investigators suspect that a much larger criminal network is at play, likely with a single person at the top. This organization recruits operatives online and employs stolen vehicles or fake courier uniforms to carry out their plans.
So far, these kidnappings have not led to any fatalities, but officials warn that this might change at any time. The fact that criminals are now willing to attack individuals and their families in broad daylight shows a disturbing escalation in organized crime tactics.
Crypto Wealth Under Threat
This isn’t the first time France has seen such attacks. Earlier this year, David Balland, the co-founder of Ledger, was kidnapped alongside his partner.
Another abduction on May 1 targeted the father of another crypto entrepreneur. Within the same month, three Florida teenagers allegedly drove a man more than 70 miles to a remote desert area after attacking him on his way home from hosting a crypto event in Downtown Las Vegas.
The victim was coerced into giving up the passwords to his crypto accounts, from which $4 million was stolen. As crypto gains more adoption, its notable users and founders are becoming more and more attractive as targets for extortion, theft, and now physical violence.
The rise of blockchain transparency is beneficial for open finance. However, it is slowly becoming the ultimate tool for tracking and identifying wealthy wallet holders. In the wrong hands, this information can very quickly become a roadmap for crime.
