The father of an unnamed crypto entrepreneur was freed by police in Paris, France, during a law enforcement raid of the property where the man was held captive for ransom over several days.
According to a report by Le Monde, the May 3 raid resulted in five arrests. Local outlet Le Parisien also said the kidnappers demanded between 5 million and 7 million euros, or up to $7.9 million, to release the captive man.
Although the details on the identity of the victims remain scant, likely for security reasons, the crypto entrepreneur and his father co-owned a crypto marketing firm based in Malta, French media reports.
This incident features similarities to the kidnapping of Ledger co-founder David Balland in France in January 2025. Balland was also held for a crypto ransom until he was freed by law enforcement officers in a rescue operation.
Unfortunately, this latest incident also follows a string of similar ransom attempts around the world targeting crypto users and their loved ones in an attempt to extort funds from individuals perceived to hold a sizable amount of wealth.
Related: $330M Bitcoin social engineering theft victim is elderly US citizen
Crypto kidnapping attempts sadly become all too common
In November 2024, WonderFi CEO Dean Skurka was kidnapped and forced to pay a $1 million cryptocurrency ransom to the assailants, who abducted him using a vehicle in downtown Toronto, Canada.
Six individuals in Chicago, Illinois, were charged in February 2025 with the kidnapping of a family and their nanny in exchange for a crypto ransom.
According to an FBI report, the kidnappers forced their way inside the Chicago home by pretending they had accidentally damaged the family's mechanical garage door.
Once inside, the suspects forced the family into a van and abducted them for five days before forcing them to surrender $15 million worth of cryptocurrencies to secure their release.
Online streamer Amouranth was the victim of a home invasion in March 2025 when several armed suspects held her at gunpoint and demanded the keys to her cryptocurrency.
Four suspects were charged in connection with the incident and arrested by law enforcement officials in the US state of Texas.
Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
Continue reading...