France Emerges as Epicenter of Brutal Crypto Kidnaps

French authorities have intensified efforts to combat a surge in cryptocurrency-related abductions, commonly referred to as “wrench attacks,” following the recent rescue of a 20-year-old Swiss man in Valence. The operation, which involved 150 gendarmes, led to the arrest of seven suspects. The victim was found tied up in a house near the city’s high-speed train station, according to Le Dauphiné Libéré. This incident marks the latest in a troubling trend in France, which security analysts suggest is the epicenter of such attacks in Europe. Analyst Jameson Lopp has documented at least 10 wrench attacks in France in 2025 alone, accounting for nearly a quarter of the 48 reported globally this year [1].

The modus operandi of these attacks often involves targeting cryptocurrency traders, executives, or their families with violent methods to extract digital assets. Cybercrime consultant David Sehyeon Baek noted that the true scale of these incidents is likely underestimated, as victims frequently remain silent to avoid reputational damage or further attacks. France has already witnessed some of the most severe cases, including the January abduction of Ledger co-founder David Balland, in which his finger was severed, and the May kidnapping of a Malta-based crypto executive’s father, who also suffered a similar fate in Paris [1].

Criminal networks are increasingly leveraging the anonymity and portability of cryptocurrencies to extort victims globally. These attacks are not confined to France; similar incidents have been reported in other parts of the world. For instance, in March, Chinese-Filipino steel magnate Anson Que was killed after kidnappers demanded $20 million in crypto. In Hong Kong, a Turkish man was ambushed during a multimillion-euro crypto trade. Meanwhile, in Brazil, a Spanish businessman was held for five days and subjected to severe threats in exchange for a $50 million ransom [1].

The rise in these attacks has prompted law enforcement agencies worldwide to enhance their strategies. In the United States, Remy St Felix, a 25-year-old Florida man, was sentenced to an additional seven years in prison for attacking a witness who testified in a case involving violent home invasions targeting crypto owners. St Felix was already serving 47 years for his role in a scheme that included abducting victims, binding them with zip ties, and stealing cryptocurrency worth $3.5 million. The U.S. Justice Department emphasized that such attacks, often called “wrench attacks,” aim to bypass even the most advanced security measures by using brute force and intimidation [2].

The pattern of violence against crypto holders has become particularly pronounced in Paris, where multiple victims have been subjected to extreme physical harm while in captivity. In June, French authorities arrested a 24-year-old mastermind in Morocco and charged 25 suspects in schemes involving an attack on the pregnant daughter of Paymium CEO Pierre Noizat. These developments highlight the growing sophistication and brutality of criminal networks targeting digital wealth, which they view as highly portable and difficult to trace [1].

As the frequency of these attacks continues to rise, law enforcement faces increasing challenges in identifying and apprehending perpetrators. The anonymity provided by cryptocurrencies and the global nature of the digital economy complicate investigations. However, experts emphasize that blockchain analytics and international cooperation are proving essential in tracking illicit transactions and dismantling these networks. In recent months, global law enforcement agencies have intensified efforts to trace the movement of stolen assets and disrupt the operations of criminal groups involved in cryptocurrency-related crimes [1].

Source:

[1] French Police Detain Seven Following Latest Crypto Kidnap Attempt (https://decrypt.co/338219/french-police-detain-seven-following-latest-crypto-kidnap-attempt)

[2] Bitcoin Home Invasion Ringleader Gets More Prison Time for Attacking Witness (https://decrypt.co/337347/bitcoin-home-invasion-ringleader-more-prison-time-beating-witness)