French police arrest five crypto kidnapping suspects in abducting an executive’s father, part of a wave of crypto-related abductions in France.
Nearly six months after a high-profile kidnapping incident, French police have confirmed the arrests of five suspects. The five individuals, including a minor, were arrested in connection with the kidnapping of a crypto mogul’s father in France.
France Nabs Five Over Crypto Kidnapping
According to a France42 report, French authorities have taken five persons into custody for a high-stakes kidnapping incident from December 2024. The suspects were arrested on charges of kidnapping the father of a well-known cryptocurrency investor.
Authorities are keeping the identity of the crypto investor under wraps to protect the integrity of the investigation. The only clue given by the police is “his success was well-known to the general public.”
However, French police revealed that the suspects include four adults between the ages of 18 and 22, as well as a 17-year-old minor. Authorities confirm that all the suspects have extensive criminal records ranging from theft to drug trafficking.
On New Year’s Eve, five armed individuals broke into a home in the town of Saint-Genis-Pouilly and attacked the victim and his wife. The attackers placed a call to the crypto investor, requesting payment of an undisclosed ransom to secure their release.
Unable to secure the payment, the attackers carted away the 56-year-old man and left his wife tied up in the apartment. Authorities found the victim in a car trunk nearly 450 miles from his home, after the suspects had assaulted and drenched him in petrol.
Given the spike in kidnapping incidents in France and data breaches, crypto millionaires are hiring bodyguards to beef up their security.
A Wave Of Crypto Kidnappings Hit France
France is the ground zero for a crime spree of crypto-related kidnappings targeting executives and their families. While the Paymium kidnapping case has hogged the spotlight, a wave of crypto-themed kidnappings has swept across France.
A Binance report places France and the US as the countries facing the highest spike in cryptocurrency kidnappings. In terms of regional distribution, Southeast Asia is closing in on the metrics recorded in North America and Europe.
Furthermore, Latin America has had its high-profile kidnapping case after the high-profile kidnapping of a Russian crypto couple in Argentina. The suspects of the incidents remain at large, but an international manhunt is underway for their arrest.
