Crypto Entrepreneur's Daughter Kidnapped In Paris
1min read In a dramatic turn of events, the daughter of Pierre Noizat, co-founder and CEO of French crypto exchange Paymium, and her son were targeted in a brazen daylight kidnapping attempt in Paris. The incident occurred on May 13 in the city's 11th district, where three masked men attempted to force Noizat’s daughter and her son into a waiting van. The daughter, accompanied by a male partner, resisted the assailants, managing to disarm one of them and throw the gun away during the struggle. The male partner was assaulted when he tried to intervene, and passersby eventually helped to drive the kidnappers away. All three victims sustained injuries and were taken to a local hospital for treatment.
The botched kidnapping is being investigated by the Brigade for the Suppression of Banditry, a specialized unit of the French Ministry of the Interior. This incident is part of a growing trend of attacks targeting crypto entrepreneurs and their families, highlighting the increasing risks associated with the industry. Michael Englander, co-founder and CEO of a Polish crypto exchange, warned that such incidents should serve as a wake-up call for the industry, emphasizing the dangers of flaunting crypto wealth online.
The recent surge in offline crypto-linked attacks underscores the evolving nature of crypto theft. A crypto-focused lawyer noted that these crimes are no longer limited to social engineering or SIM swaps but now include physical assaults and kidnappings. In May, police reported that three teenagers had allegedly kidnapped a man at gunpoint who was returning from a local crypto event, robbing him of $4 million in crypto and non-fungible tokens (NFTs). Additionally, on May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euro kidnapping plot. At the start of the year, the co-founder of a crypto hardware wallet manufacturer was abducted from his home in central France and held captive until a police operation secured his release.
A study found that these so-called “wrench attacks” are often underreported due to fears of revictimization and involve a diverse group of attackers ranging from organized crime groups to friends and family. A cypherpunk and co-founder of a self-custodial firm has documented dozens of offline crypto robberies, with 22 incidents of in-person crypto-related theft so far this year. These incidents highlight the need for increased security measures and awareness within the crypto community to protect against such threats.
