Three Kidnappings in Five Months –‭ Does France Have a Crypto Crime Problem?‬

Since the start of 2025, high-profile crypto entrepreneurs and investors have been strategically targeted in France for their wealth. Though this spate of crime remains comparatively low compared to other thefts, it demonstrates an increasing trend of targeted physical violence as crypto becomes more mainstream.

In a conversation with BeInCrypto, representatives from Binance and CertiK discussed how the problem has evolved in France and the world and what measures investors can take to keep themselves and their families safe from these attacks.

Recent Incidents in France

The news has been full of kidnapping events involving the crypto community in the past few months. France, in particular, has made recurrent headlines. Ledger Co-founder David Balland was the first to fall victim this year. 

In January, kidnappers abducted Ledger co-founder David Balland and his partner from their central France home, demanding a substantial ransom. Police quickly rescued them, but Balland had lost a finger, and both suffered significant trauma.

Less than four months later, two more kidnappings would occur. Earlier this month, police rescued the abducted father of an unnamed crypto millionaire after two days of being held captive.

Then, two weeks ago, abductors attempted to kidnap the daughter of French crypto mogul Pierre Noizat in broad daylight. Videos of the event raised alarm bells across social media. 

This new crime wave isn’t going anywhere as crypto becomes more prominent.

Is France’s Reality Turning into a Global Phenomenon?

Rather than being unique, the recent series of crypto kidnappings is closely tied to Bitcoin’s appreciating price.

Crypto kidnappings have increased amid Bitcoin price rallies. Source: Binance.

“Our‬‭ data‬‭ shows‬‭ an‬‭ increase‬‭ in‬‭ the‬‭ number‬‭ of‬‭ publicly‬‭ reported‬‭ physical‬‭ attacks‬‭ on‬‭ crypto‬‭ users‬‭ since‬‭ 2021,‬‭ with‬‭ the‬‭ BTC‬‭ price‬‭ strongly‬‭ correlated‬‭ with‬‭ the‬‭ number‬‭ of‬‭ such‬‭ incidents.‬‭ As‬‭ the‬‭ industry’s‬‭ digital‬‭ defenses‬‭ become‬‭ more‬‭ robust,‬‭ criminals are increasingly shifting to real-world tactics,” a Binance spokesperson shared with BeInCrypto.

This reality isn’t limited to France, either. Just this week, kidnappers reportedly tortured a man in New York City for his Bitcoin password.

Data reveals that this issue is becoming increasingly international. According to Binance, while only one global kidnapping incident occurred in 2019, this number jumped to 13 in the first five months of 2025 alone. 

Incidents of crypto kidnappings have increased worldwide. Source: Binance.

France’s recent issues, however, represent the increasing need for collaboration between the crypto industry and law enforcement in light of this trend.

The Importance of Collaboration

The troubling rise in kidnappings clearly shows that criminals are increasingly targeting prominent crypto holders for extortion. The sheer boldness of these attacks underlines the violent and desperate nature of these criminal groups.

Given the rapid growth of the crypto industry in countries like France, these places must be well-prepared for potential future acts of violence.

“As‬‭ France‬‭ continues‬‭ to‬‭ grow‬‭ as‬‭ a‬‭ hub‬‭ for‬‭ digital‬‭ innovation,‬‭ it’s‬‭ critical‬‭ that‬‭ public‬‭ and‬‭ private‬‭ stakeholders‬‭ proactively‬‭ invest‬‭ in‬‭ security‬‭ measures,‬‭ intelligence‬‭ sharing,‬‭ and‬‭ user‬‭ education to stay ahead of emerging threats,” Jonathan Riss, blockchain intelligence analyst at CertiK, told BeInCrypto.

Sometimes, however, the technology that makes crypto secure also makes it difficult for traditional law enforcement to trace.

“Cryptocurrency,‬‭ by‬‭ design,‬‭ is‬‭ decentralized‬‭ and‬‭ pseudononymous—features‬‭ that‬‭ challenge‬‭ traditional‬‭ investigative‬‭ models.‬‭ The‬‭ borderless‬‭ nature‬‭ of‬‭ blockchain‬‭ transactions‬‭ can‬‭ obscure‬‭ jurisdiction,‬‭ while‬‭ the‬‭ use‬‭ of‬‭ mixers,‬‭ privacy‬‭ coins,‬‭ and‬‭ peer-to-peer‬‭ platforms‬‭ complicates‬‭ forensic‬‭ tracing,” Riss added.

Riss also stressed that certain federal regulations in the country expose sensitive user information that malicious actors may later exploit. ‬

“Recent‬‭ French‬‭ anti-money‬‭ laundering‬‭ laws‬‭ expose‬‭ users‬‭ to‬‭ increased‬‭ risks—particularly‬‭ through‬‭ the‬‭ ban‬‭ on‬‭ privacy‬‭ tools‬‭ in‬‭ cryptocurrencies‬‭ and‬‭ the‬‭ recent‬‭ adoption‬‭ of‬‭ the‬‭ ‘narcotraffic’‬‭ law.‬‭ In‬‭ the‬‭ event‬‭ of‬‭ a‬‭ personal‬‭ data‬‭ leak,‬‭ users‬‭ can‬‭ be‬‭ identified,‬‭ located,‬‭ and‬‭ targeted‬‭ for‬‭ extortion‬‭ or‬‭ kidnapping.‬‭ This‬‭ mass‬‭ collection‬‭ of‬‭ sensitive‬‭ data,‬‭ combined‬‭ with‬‭ blockchain‬‭ transparency,‬‭ creates‬‭ a‬‭ direct‬‭ threat‬‭ to‬‭ the‬‭ safety‬‭ of‬‭ asset‬‭ holders,” he said.

Fortunately, the recent crypto kidnappings have prompted significant cooperation between French law enforcement and the local crypto industry to manage the situation.

How Did the French Government Respond?

Two days after the latest attempted kidnapping, French Interior Minister Bruno Retailleau called a meeting with leading figures and representatives from France’s cryptocurrency sector to discuss these growing threats. 

After the meeting, the ministry announced plans to bolster security measures for leading French crypto entrepreneurs and their families. It also anticipated increased law enforcement training on anti-crypto asset laundering. 

The gathering itself underscored the importance of a joint effort between the government, police, and the private crypto industry to address these challenges effectively.

“The‬‭ crypto‬‭ industry‬‭ has‬‭ a‬‭ vital‬‭ role‬‭ to‬‭ play‬‭ in‬‭ public‬‭ safety.‬‭ By‬‭ sharing‬‭ intelligence,‬‭ flagging‬‭ suspicious‬‭ activity,‬‭ and‬‭ supporting‬‭ investigations‬‭ with‬‭ on-chain‬‭ analytics,‬‭ industry‬‭ leaders‬‭ can‬‭ act‬‭ as‬‭ a‬‭ first‬‭ line‬‭ of‬‭ defense.‬‭ Moreover,‬‭ proactive‬‭ AML‬‭ and‬‭ KYC‬‭ practices,‬‭ alongside‬‭ partnerships‬‭ with‬‭ regulators‬‭ and‬‭ law‬‭ enforcement,‬‭ can‬‭ help‬‭ deter‬‭ bad‬‭ actors‬‭ and‬‭ build‬‭ a‬‭ safer‬‭ ecosystem,” Riss told BeInCrypto. ‭

While collective action is underway, crypto community members must also take personal responsibility by minimizing their exposure to dangerous situations.

Individual Risk Mitigation

For those in crypto, unfiltered visibility can swiftly morph into a vulnerability. While users might be inclined to share recent earnings after a rally or display their latest splurges, such public demonstrations can turn them into potential targets.

“Staying‬‭ safe‬‭ in‬‭ this‬‭ environment‬‭ requires‬‭ more‬‭ than‬‭ just‬‭ good‬‭ digital‬‭ hygiene:‬‭ it‬‭ means‬‭ taking‬‭ proactive‬‭ measures‬‭ in‬‭ your‬‭ personal‬‭ life‬‭ to‬‭ obscure,‬‭ deflect,‬‭ and‬‭ reduce‬‭ potential‬‭ risk.‬‭ Criminals‬‭ are‬‭ looking‬‭ for‬‭ careless‬‭ mistakes‬‭ online,‬‭ watching‬‭ behaviors,‬‭ and‬‭ exploiting‬‭ moments‬‭ of‬‭ vulnerability‬‭ in‬‭ their‬‭ potential‬‭ victims,” a Binance representative explained.

A critical step in mitigating risks involves reducing online exposure to these vulnerabilities. Binance shared several guidelines, including advising against sharing crypto ownership on public platforms such as podcasts, interviews, or open forums. 

Binance also cautioned against posting screenshots of wallet balances or transaction histories. Their spokesperson suggested creating separate identities or pseudonyms for crypto activities to enhance personal security.

Similar measures should be taken regarding a user’s social media activity.

Prioritizing Social Media Privacy

Binance stressed that significant crypto holders should aim to make their social media accounts more secure and less revealing. 

“‭Attackers‬‭ often‬‭ build‬‭ their‬‭ plans‬‭ from‬‭ the‬‭ details‬‭ we‬‭ voluntarily‬‭ share‬‭ online.‬‭ Geotagged‬‭ photos,‬‭ casual‬‭ check-ins,‬‭ or‬‭ travel‬‭ stories‬‭ can‬‭ become‬‭ intelligence‬‭ for‬‭ a‬‭ kidnapping‬‭ or‬‭ attack‬‭ where‬‭ large amounts of digital funds are involved,” Binance’s spokesperson said. 

Luckily, several actionable guidelines reduce this type of exposure. Simple steps, such as setting personal accounts to private and removing geolocation data from photos before posting, can go a long way toward ensuring safety. 

‭Moving forward, the industry’s sustained growth will depend on its collective ability to innovate in technology and safeguard its community from emerging threats.