Crypto Industry Targeted Kidnappings Lead to Arrest of Suspect in Morocco

In a significant development, a 24-year-old French-Moroccan man, Badiss Mohamed Amide Bajjou, was arrested in the northern Moroccan city of Tangier. He is suspected of being one of the masterminds behind a series of violent kidnappings in France targeting individuals linked to the cryptocurrency industry. The arrest was made following an Interpol red notice issued for his involvement in "arrest, kidnapping, false imprisonment or arbitrary detention of a hostage."

Bajjou was found in possession of multiple bladed weapons and several mobile phones, which were seized during the operation. The arrest was carried out at the request of French authorities by Morocco’s national police and intelligence service. French Justice Minister Gerald Darmanin praised the arrest, highlighting the excellent judicial cooperation between France and Morocco in the fight against organized crime.

The kidnappings have caused significant concern and embarrassment for the French government, prompting calls for enhanced security measures. One of the most high-profile incidents involved the January kidnapping of David Balland, co-founder of the crypto firm Ledger, and his partner. Balland's finger was cut off by his kidnappers, who demanded a substantial ransom. This incident, along with others, has highlighted the vulnerability of wealthy crypto tycoons and the need for improved security measures.

In another incident, on May 13, multiple assailants attempted to kidnap the daughter and grandson of Pierre Noizat, CEO of French crypto platform Paymium. A video of the alleged attack filmed by passersby shows Noizat’s daughter fending off masked men with the help of bystanders, forcing them back into a nearby waiting van, where they fled the scene. This incident occurred in broad daylight, underscoring the brazen nature of these crimes.

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. These incidents have led French law enforcement to boost security for crypto executives and their families. The measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement to ensure best practices are being followed.

The arrest of Bajjou is seen as a significant breakthrough in the investigation. It underscores the importance of international cooperation in combating organized crime and ensuring the safety of individuals in the cryptocurrency industry. The French government's response to these incidents, including the recent charges and enhanced security measures, demonstrates a commitment to addressing the growing threat of kidnappings targeting wealthy individuals.