Crypto Entrepreneur's Father Rescued After €5-7M Ransom Demand

The father of a prominent cryptocurrency entrepreneur was successfully rescued by French law enforcement after being held captive for ransom in Paris. The incident, which unfolded over the course of several days, involved a group of kidnappers who demanded an exorbitant ransom of between €5 million and €7 million. The kidnappers, who were armed and masked, abducted the victim in broad daylight, severing one of his fingers as a grim warning to the family. The entrepreneur's son, who is an influencer, received the ransom demand and promptly contacted the authorities. The police swiftly responded, conducting a meticulous investigation that led to the identification of the kidnappers and the location of the hostage. A daring nighttime raid was executed, resulting in the safe rescue of the victim and the arrest of five suspects.

This incident marks the second ransom case linked to the cryptocurrency world this year, highlighting the growing trend of targeting wealthy individuals in the crypto industry for extortion. The swift and effective response by French law enforcement underscores the importance of vigilance and cooperation between law enforcement agencies and the public in combating such crimes. The incident serves as a stark reminder of the risks associated with the cryptocurrency industry and the need for enhanced security measures to protect high-net-worth individuals and their families.

Unfortunately, this latest incident follows a string of similar ransom attempts around the world targeting crypto users and their loved ones in an attempt to extort funds from individuals perceived to hold a sizable amount of wealth. In November 2024, the CEO of WonderFi was kidnapped and forced to pay a $1 million cryptocurrency ransom to the assailants, who abducted him using a vehicle in downtown Toronto. Six individuals in Chicago were charged in February 2025 with the kidnapping of a family and their nanny in exchange for a crypto ransom. The kidnappers forced their way inside the Chicago home by pretending they had accidentally damaged the family's mechanical garage door. Once inside, the suspects forced the family into a van and abducted the family for five days before forcing them to surrender $15 million worth of cryptocurrencies to secure their release. Online streamer Amouranth was the victim of a home invasion in March 2025 when several armed suspects held her at gunpoint and demanded the keys to her cryptocurrency. Four suspects were charged in connection to the incident and arrested by law enforcement officials.

This incident features similarities to the kidnapping of Ledger co-founder David Balland in France in January 2025. Balland was also held for a crypto ransom until he was freed by law enforcement officers in a rescue operation. Although the details on the identity of the victims remain scant, likely for security reasons, the crypto entrepreneur and his father co-owned a crypto marketing firm based in Malta. The kidnappers demanded between 5 million and 7 million euros, or up to $7.9 million, to release the captive man. The May 3 raid resulted in five arrests. The incident underscores the need for heightened security measures and vigilance within the cryptocurrency community to prevent such crimes from occurring in the future.