France Leads Global Crypto Crime Surge With 24% of 2025 Incidents

France is currently experiencing a surge in violent cryptocurrency-related crimes, making it a hotspot for such incidents globally. According to the May 2025 Global Guardian Risk Barometer, France has reported five out of 21 global incidents of crypto-related extortion and kidnapping in the first five months of this year, the highest number of any country.

One of the most recent incidents involved an attempted kidnapping of the daughter of Pierre Noizat, CEO of Paymium, a French crypto exchange. The attack, which occurred in broad daylight in Paris, was thwarted by the quick actions of her partner and alert bystanders. This incident highlighted a disturbing trend where public crypto figures are being targeted, similar to characters in a suspense series.

The Noizat case was not an isolated event. In January, Ledger co-founder David Balland and his wife were kidnapped in Vierzon, France. The attackers severed one of Balland’s fingers and demanded a crypto ransom, which was partially paid in Tether before French special forces rescued the couple. The police tracked the ransom trail and freed the victim from a trunk where he had been held for 58 hours. Five individuals were arrested during the raid, including two with previous convictions for crypto-targeted crimes.

In June 2025, just outside Paris, a 23-year-old was lured into a fake meeting and held until their partner handed over a Ledger hardware wallet and €5,000 in cash. The attackers had tracked the individual through social media and crypto community posts. This kind of “wrench attack,” where physical force is used to extract private keys, is increasingly targeting everyday investors, not just billionaires.

The rise in crypto-related crimes in France can be attributed to several factors. The country's proactive stance on digital assets, including regulatory clarity and high-profile conferences like ETHCC, has made it a hub for crypto innovation. However, this visibility also makes it a target for criminals. Public figures in the crypto space often have active social media profiles that reveal their locations, travel plans, and wealth, making them easy targets. Additionally, crypto businesses often lack the withdrawal restrictions or “panic modes” that traditional banks employ under duress, leaving them vulnerable to attacks.

As a result, some French crypto CEOs are now exploring hiring private security or even applying for permits to carry arms, reflecting the real threat they face. With the upcoming ETHCC conference in Cannes, operational security (opsec) is more important than ever. Attendees are advised to travel quietly, use cold wallets, decline solo meetings, and consider hiring local security if needed. As one ETH investor noted, “You can’t decentralize kidnapping.”

Crypto has revolutionized finance but has also introduced new vulnerabilities. Unlike traditional banking, there are no fraud alerts, no reversible charges, and often no legal recourse once funds are gone. While Web3 celebrates decentralization, it has yet to fully confront its exposure to real-world crime. Until more robust safety measures are implemented, the responsibility will remain with individuals to protect themselves.

France has emerged as a leader in crypto innovation but is also becoming the epicenter of a new kind of threat—one that blends the digital with the deeply physical. As the crypto community gathers to build the future of finance, it is crucial to also build a culture of safety. ETHCC may celebrate decentralization and empowerment, but it is essential to remember that decentralization without protection is just vulnerability.