France Boosts Security for Crypto Executives After Kidnappings

France has intensified its security measures for cryptocurrency executives following a series of high-profile kidnappings. The recent incidents have highlighted the vulnerabilities within the crypto industry, prompting the government to take swift action to protect key figures in the sector.

On May 13, 2025, a group of masked thieves attempted to kidnap the daughter of a prominent cryptocurrency executive in Paris. This incident, captured on video, sent shockwaves through France's crypto community. It was the latest in a string of similar crimes, including the January kidnapping of a Ledger company founder and his partner, and the May abduction of another crypto executive’s father. While all victims were eventually freed, one suffered a severe injury, losing a finger to his captors. The Ledger kidnappers also managed to collect a ransom in virtual currency before authorities recovered the funds.

The French government has pledged to address these increasing security threats. The Interior Ministry has assured the public that additional security measures will be implemented to safeguard individuals, particularly those in the cryptocurrency sector. Authorities are enhancing police presence in areas frequented by crypto professionals and collaborating more closely with companies to identify and mitigate vulnerabilities. Several suspects have already been apprehended in relation to the recent attacks, with seven individuals arrested and 10 others questioned following the Ledger abduction in May.

The surge in the value of cryptocurrencies has created a new class of wealthy individuals who are now at a higher risk of becoming targets of crime. Criminals are exploiting the perception that cryptocurrency transactions are untraceable, making them an attractive target for kidnappings and ransom demands.

The French crypto industry has called for regulatory reform to address these growing security concerns. Paymium has highlighted the risks associated with regulations that require the collection of large amounts of personal information, such as the TFR, AMLR6, and the Narcotrafic law. These regulations, according to Paymium, create vulnerabilities that make crypto users susceptible to data breaches and cybercrimes. The company has urged a pause on the implementation of these measures until the potential risks to public security and the protection of citizens’ privacy have been fully evaluated.

Paymium has also noted that misleading depictions of cryptocurrency as a means for quick wealth and a tool for illegal activity contribute to the security risks. The company has pledged to work with journalists and legislators to dispel these misconceptions and improve the security of individuals working in the industry. Paymium has expressed its gratitude to the Interior Minister for addressing their concerns and has sent its condolences to the affected families, praising the efforts of the authorities in their investigations.