- Ransom: A sum of money demanded for the release of a kidnapped person .
- Paymium: One of the earliest French crypto exchanges, co-founded by Pierre Noizat.
- Ledger: A leading French company that produces hardware wallets used to securely store cryptocurrencies offline .
A French crypto Tiktoker has been released after just one day of being kidnapped last Friday, when the kidnapper discovered that he did not have enough funds to cover their demands.
The four kidnappers snatched the 26-year-old TikToker into a stolen vehicle when he was on his way home at Juvisy-sur-Orge in Northern France and beat him before the kidnappers asked him to hand $57,000 in crypto. According to local French reports on Sunday.
The crypto trader, who has 40,000 followers on TikTok, was released on Saturday after convincing the kidnappers he couldn’t pay by showing them the low balance in his account.
Wave of Crypto-Related Abductions Shakes France’s Digital Economy
France has seen a rise in crypto-related kidnappings this year, leading the country’s interior minister to meet with crypto business owners to talk about safety concerns.
- On May 31, the Paris public prosecutor charged 25 people linked to several kidnapping plans that targeted well-known crypto figures and their families
- On May 13, attackers tried to kidnap the daughter and grandson of Pierre Noizat, the CEO and co-founder of the French crypto exchange Paymium.
- On May 3 Paris police rescued the father of an unnamed crypto entrepreneur after he was held captive for days, tortured, and had a finger severed during an attempted kidnapping tied to a €7 million ransom demand.
- In January, David Balland, co-founder of Ledger, was kidnapped from his home; his finger was also cut off. He was rescued by police the following day.
A key suspect believed to be behind several recent crypto-related kidnappings in France was arrested in Morocco on June 4, just days after the Paris public prosecutor charged 25 individuals on May 31 for their involvement in multiple plots targeting prominent crypto figures and their families.
As crypto continues to gain popularity, the risks facing its most public figures are becoming more apparent. French authorities have already taken steps to respond to recent incidents, but whether these efforts will be enough to prevent future kidnappings remains to be seen. What’s clear is that the evolving landscape calls for stronger safeguards to protect those working in the crypto space.
