Crypto Kidnappings Spark French Security Crackdown

Badiss Mohamed Amide Bajjou, a 24-year-old French-Moroccan man, was arrested in Morocco on June 3, 2025, on suspicion of masterminding a series of crypto kidnappings targeting wealthy cryptocurrency entrepreneurs in France. This arrest marks a significant development in a case that has garnered substantial attention within the crypto community in France and underscored underlying issues within the industry.

The arrest was announced by French Justice Minister Gérald Darmanin, who commended Morocco for its cooperation in the case. Darmanin highlighted the collaborative effort between French magistrates and Moroccan authorities in combating organized crime. One of the notable victims linked to Bajjou's activities is David Balland, co-founder of Ledger, who was abducted and disfigured in January 2025.

Bajjou, a native of Le Chesnay, west of Paris, is alleged to have orchestrated several high-profile abductions. French authorities are investigating his involvement in attacks on crypto tycoons that resulted in substantial ransom demands from their families. These crimes have raised alarm among France’s cryptocurrency elite, who are increasingly concerned about their safety.

The wave of violent crypto-related crimes began to gain media attention in January 2025 when David Balland and his wife went missing from their home in Méreau, central France. Kidnappers severed Balland’s finger and sent a video of the act to Ledger, followed by a ransom demand. A 48-hour manhunt ensued, culminating in the rescue of the couple and the arrest of 10 suspects by French police.

In May, another high-profile incident occurred in Paris when armed assailants attempted to kidnap the daughter and grandson of Paymium CEO Pierre Noizat. The assault, captured on tape, targeted a family of migrants living in the 11th arrondissement. The family resisted the attackers, who were eventually forced to flee with the help of a local shop owner who used a fire extinguisher.

On May 1, a crypto entrepreneur’s father was kidnapped from a street in Paris’s 14th district. Police arrested seven suspects and freed the victim, who was also mutilated. Authorities later foiled another kidnapping plot near Nantes, resulting in the arrest of more than 20 individuals, including six minors aged 16 to 23.

French prosecutors have filed charges against a total of twenty-five individuals in these incidents. Many of the suspects are young and were born in France as well as in other countries. According to authorities, many were lured by the promise of quick money but became entangled in complex criminal schemes.

To address the growing threat, Bruno Retailleau, the minister of the interior, met in May with prominent figures in the bitcoin business. The ministry announced that crypto entrepreneurs would receive home-security checks, and police would have emergency access to their premises. This move aims to enhance the safety of crypto entrepreneurs and prevent further incidents.

The crypto sector has come under scrutiny following these events, with critics arguing that cryptocurrencies provide a haven for illegal transactions due to less regulatory oversight compared to traditional banking. Such occurrences have sparked calls for stricter regulations, with some industry figures expressing concern that new European rules on crypto could exacerbate the problem.

France’s cryptocurrency community remains on edge. Eric Larchevêque, co-founder at Ledger, had called for action to “stop the Mexicanization of France” and compared the violence to drug-related crimes in Mexico. Bajjou’s detention and the other arrests have raised hopes of curbing the wave of violence and restoring a sense of security within the crypto community.