Crypto-Related Kidnapping: French Police Rescue Hostage After Ransom Demand

In a dramatic turn of events, French police successfully rescued a man who had been held hostage for ransom in a crypto-related abduction. The victim, the father of a cryptocurrency entrepreneur, was freed on Sunday after being held captive in an Airbnb for two days. The police operation was hailed as an exceptional job by French Interior Minister Bruno Retailleau, who commended the efforts of the investigators involved.

The kidnapping unfolded on Thursday morning in Paris when four men, wearing ski masks, forced the victim into a van. The kidnappers demanded a ransom of between €5 million and €7 million, although no payment was made. In a chilling development, the kidnappers allegedly severed one of the victim’s fingers and sent a video of the injured man to his son, demanding money. The police acted swiftly to prevent further harm, conducting a nighttime raid on the Airbnb where the victim was being held.

The police arrested five individuals, aged between 23 and 27, in connection with the crime. Four of the suspects were found inside or near the Airbnb, while the fifth was driving the van used in the abduction. The investigation is ongoing, with authorities exploring various criminal charges, including extortion by an organized gang, criminal conspiracy, and kidnapping with torture or a barbaric act.

The victim’s wife informed investigators that her husband and son owned a crypto marketing firm in Malta and had received threats in the past. This incident highlights the growing threat faced by wealthy crypto owners, as similar kidnappings have been on the rise. However, it remains unclear whether these recent crypto kidnappings are connected. Internal security expert Guillaume Farde noted that while there is a link in the modus operandi, it is up to the investigators to determine if the same group is responsible.

This kidnapping bears striking similarities to other cases. In January 2025, David Balland, co-founder of crypto hardware wallet manufacturer Ledger, and his wife were abducted from their home in central France. The attackers cut off Balland’s finger and sent a video to the co-founder Eric Larchevêque, demanding ransom money. In November 2024, Dean Skurka, CEO of Toronto-based WonderFi Technologies, was kidnapped in downtown Toronto and freed after paying a $1 million ransom. In December 2024, the wife of crypto investor and influencer Stéphane Winkel was abducted from their home in Belgium but escaped after the kidnapper crashed his car during a police chase. In January 2025, seven UK gang members were sentenced to lengthy prison terms for kidnapping, torturing, and extorting a cryptocurrency investor. In February, US authorities charged six men in connection with the October 2024 kidnapping of four people from Chicago, forcing them to transfer approximately $15 million in crypto.

These incidents underscore the increasing risk faced by individuals involved in the cryptocurrency industry. The recent series of kidnappings, while not definitively linked, share common elements that suggest a growing trend of targeting wealthy crypto owners for ransom. The successful rescue operation by French police serves as a reminder of the importance of vigilance and swift action in combating such crimes.