Crypto millionaires in Paris: kidnappings are increasing dramatically!

Crypto millionaires in Paris: kidnappings are increasing dramatically!

Kidnappings of people closely linked to cryptocurrencies have risen sharply in France and other parts of Europe. This new threat highlights the security risks that come with owning digital assets. Loud Wall Street Online France is particularly affected by this development, where some worrying recent incidents have been documented.

On January 21st, David Balland, co-founder of crypto company Ledger, was kidnapped along with his wife. The kidnappers demanded a ransom of 10 million euros. What remains comforting is the fact that Balland was seriously injured during the kidnapping; one of the perpetrators cut off his finger before the police were able to successfully free him. A few days later, on May 1st, another crypto entrepreneur was kidnapped in Paris, with a ransom demand of between 5 and 7 million euros. This man was also seriously injured and his finger was also severed.

The frightening reality of kidnapping

In addition to these incidents, there was another frightening attempt on May 13 when four masked men attempted to kidnap the Paymium founder's wife and child. Fortunately, the founder himself and passers-by intervened, which prevented the crime. The attackers, who were carrying a knife, acted on a busy Paris street on a busy day.

Experts warn that the high transparency and security of blockchains are attracting more and more envious people. Crypto investors are often targets of extortion and kidnapping. French police have already taken action and are working with international partners to dismantle criminal networks behind these attacks. Five suspects from a current case have been arrested and are currently being interrogated.

Role of security measures

The incidents highlight the need to strengthen security measures for those in the cryptocurrency industry. Companies and individuals must be aware of the risks and take appropriate precautions. French police and authorities in other European countries are faced with the challenge of combating new threats while protecting investor privacy.

The situation is further complicated by digital risks, such as crypto theft through hacker attacks on central crypto exchanges and wallets. To counteract this, the company Best Wallet, for example, offers advanced security measures such as 2FA, multi-party computation and biometric authentication. Best Wallet also enables the use of over 60 blockchains and offers exchange options via its own decentralized exchange (DEX); A pre-sale of the wallet has already achieved USD 12.27 million.

Developments in recent months are alarming and make it clear that the crypto industry will continue to face significant security risks in 2025. Authorities are working to find solutions to both ensure the safety of investors and combat the growing threat of criminal activity in the crypto world, such as IT Boltwise reported.