French Crypto Ransom Kidnappings Fuel Global Crime Fears

French police have arrested seven individuals in connection with the kidnapping of a young Swiss man, an incident tied to a cryptocurrency ransom demand. The operation to free the victim was conducted by the elite GIGN police unit in the southeastern city of Valence. The man, in his 20s, was found tied up in a house near the city’s high-speed train station on August 31, following a three-day captivity. Approximately 150 officers were mobilized during the operation, which successfully concluded with the suspect’s release and the arrest of several individuals [1].

French prosecutors in Lyon announced that the seven suspects—six adults and one 17-year-old—were charged with kidnapping, false imprisonment, and extortion by an armed gang. The suspects were taken into custody after being questioned on Thursday and subsequently indicted. No ransom was reportedly paid by the victim, who resides in the Vaud canton of Switzerland. The abduction occurred in an undisclosed location in France, and the circumstances of the kidnapping were not detailed [2].

This case is part of a growing trend of kidnappings targeting individuals associated with the cryptocurrency sector. In January 2025, David Balland, co-founder of the crypto firm Ledger, and his partner were kidnapped by an armed gang in Cher. The attackers severed Balland’s finger and demanded a large ransom in cryptocurrency. Balland was released the following day, while his partner was found tied up in a car near Paris. In May, the father of a Malta-based cryptocurrency entrepreneur was also kidnapped in Paris by four hooded men. His finger was amputated, and a ransom of several million euros was demanded. He was released after 58 hours [3].

French authorities have expressed concern over the increasing frequency of such crimes. A source close to the case noted that these incidents are often linked to digital assets, with ransom demands made in cryptocurrency, which offers a degree of anonymity and difficulty in tracking. The Swiss police were reportedly contacted after an anonymous tip-off a day after the latest kidnapping, which led to the coordination of the rescue operation. The victim sustained serious injuries during his captivity [4].

The recent surge in ransom-based kidnappings has raised alarm among security experts and law enforcement agencies. The use of cryptocurrency as a payment method highlights the challenges authorities face in tracking and intercepting transactions, which often occur across international jurisdictions. In response to these incidents, French prosecutors have emphasized the need for increased collaboration with international partners to combat organized crime in the digital space. The ongoing investigations into these cases are expected to shed further light on the networks involved in such crimes [5].

Source:

[1] title1 (https://www.france24.com/en/live-news/20250904-france-detains-seven-over-new-cryptocurrency-kidnapping)

[2] title2 (https://www.arabnews.com/node/2614289/world)

[3] title3 (https://www.swissinfo.ch/eng/various/young-swiss-man-kidnapped-in-france-7-people-in-custody/89950487)

[4] title4 (https://www.swissinfo.ch/eng/various/swiss-man-kidnapped-in-france-for-cryptocurrency-kidnappers-indicted/89954673)