Belgian Court Jails Three for 12 Years in Crypto Investor Wife Kidnapping

A Belgian court has sentenced three individuals to 12 years in prison for the abduction of the wife of crypto investor and trading coach Stéphane Winkel. The incident occurred in December last year outside their home in Forest, Brussels, where the victim was forcibly taken and held hostage in a van. After Winkel raised the alarm, police chased the vehicle and ultimately stopped it near Bruges, freeing the victim and apprehending the suspects.

The court also ordered the convicted kidnappers to pay over one million euros in civil damages to the victim, rejecting kidnappers’ claims that they acted under duress. While the three perpetrators were held accountable, the court said that the masterminds behind the attack remain unidentified.

Winkel’s case is part of a disturbing wave of crypto-related kidnappings sweeping across France. Most recently, a 26-year-old TikTok influencer in Juvisy-sur-Orge, near Paris, was abducted by four men demanding €50K in crypto. The attackers targeted the influencer due to his social media presence, but released him when they found his crypto accounts nearly empty.

Other cases include the abduction and mutilation of a wealthy crypto investor’s father, who was held for a €7 million ransom, and an attempted kidnapping of the CEO of Paris-based crypto exchange Paymium’s daughter, who was saved by bystanders and her partner. These incidents reflect a growing trend from last year, with France accounting for 6 of the 22 confirmed crypto-related kidnappings worldwide — more than any other country.

France likely emerged as a hotspot for crypto kidnappings due to its concentration of visible crypto founders and companies. The 2020 Ledger data breach, which exposed the names and home addresses of thousands of wallet buyers, further amplified French users’ vulnerability to these attacks.

The sentencing of the three kidnappers serves as a deterrent to others who might consider similar crimes. It also highlights the importance of law enforcement agencies in investigating and prosecuting such cases, ensuring that justice is served. The case is a reminder that while the crypto industry offers immense opportunities, it also comes with significant risks that must be managed carefully.