Major Crackdown Targets Criminal Network Preying on Crypto Entrepreneurs in France

The judicial police are conducting a major operation this Monday morning. More than a dozen suspects have been apprehended in connection with two kidnapping cases targeting crypto entrepreneurs. This offensive highlights a worrying phenomenon shaking the French cryptocurrency ecosystem. But will these arrests be enough to reassure a sector plagued by an unprecedented wave of violence?

A modus operandi revealing organized crime

This Monday’s operation marks the culmination of several weeks of investigations carried out after a series of kidnappings of crypto entrepreneurs in France.

Investigators from the Brigade for the Repression of Banditry, supported by the Parisian BRI, made arrests notably in Suresnes in Hauts-de-Seine. Among the suspects, several minors were placed in police custody.

These arrests concern two distinct but closely related cases. The first dates back to May 1st, when the father of a young wealthy crypto entrepreneur was kidnapped in the 14th arrondissement of Paris.

Four masked men forcibly took him away in a fake UPS van. The kidnappers demanded between 5 and 7 million euros in crypto.

To exert pressure, they cut off one of their victim’s fingers and filmed the act. This brutality strangely recalls the kidnapping of Ledger’s co-founder last January in Cher. After intensive phone investigations, law enforcement finally freed the sexagenarian in a hideout in Palaiseau.

The second case took place on May 13th in the 11th arrondissement of Paris. Three masked and armed men attempted to abduct a 34-year-old woman near a school. The filmed scene shocked passersby.

The victim turned out to be the daughter of Pierre Noizat, CEO of Paymium, a renowned crypto exchange platform. The heroic intervention of a passerby armed with a fire extinguisher and the victim’s partner thwarted the attempt.

A growing threat that worries the French crypto ecosystem

Investigators now favor the theory of a single criminal organization. This structure would recruit young operatives via social networks to carry out these violent operations.

The suspects already identified reveal a recurring profile: young men recruited occasionally, originating from diverse backgrounds (Algeria, Reunion, Chesnay, Levallois-Perret).

This wave of kidnappings comes in a broader context of increasing insecurity for crypto entrepreneurs in France. Bruno Retailleau, Minister of the Interior, recently held an emergency meeting with crypto entrepreneurs to unveil an unprecedented protection plan.

The announced measures include a priority direct line with the police, personalized security audits at home, and specialized training for law enforcement.

The urgency is justified by alarming figures: France accounts for 26% of global attacks related to cryptocurrencies.

Faced with this worrying situation, entrepreneurs in the sector are speaking out. They demand tougher justice and denounce the dangerous exposure of their personal data in official documents.

This large-scale crackdown could mark a major turning point in this underground war. But the effectiveness of these arrests remains to be proven: will they manage to sustainably deter the criminal networks coveting this expanding crypto sector?