French authorities have detained 25 individuals connected to a series of brazen cryptocurrency kidnapping plots targeting industry executives and their families, as violent criminals attempt to cash in on the digital currency boom.
At a Glance
- Twenty-five suspects face an investigating judge in Paris for attempted kidnapping and criminal conspiracy targeting cryptocurrency executives
- The family of Pierre Noizat, CEO of French cryptocurrency exchange Paymium, was attacked in broad daylight on May 13 in Paris
- A bystander with a fire extinguisher helped thwart the kidnappers during the attack on Noizat’s family
- This marks the third violent attack targeting cryptocurrency figures in recent months in France
- Interior Minister Bruno Retailleau has held emergency meetings with cryptocurrency leaders to enhance security measures
Brazen Daylight Attack on Crypto Executive’s Family
The recent wave of violence targeting France’s cryptocurrency industry reached a shocking new level on May 13 when three masked men attempted to kidnap the daughter and grandson of Pierre Noizat, CEO of cryptocurrency exchange Paymium. The attack occurred in broad daylight on a Parisian street, with videos of the incident quickly circulating on social media. The footage showed the attackers and their getaway van as they tried to abduct the family members, who suffered light injuries during the failed kidnapping attempt.
Noizat praised what he called the “heroic” actions of his family members and a quick-thinking bystander who used a fire extinguisher to fight off the attackers. The dramatic intervention likely prevented what could have been a devastating kidnapping of the crypto executive’s family members. This incident has sent shockwaves through France’s growing cryptocurrency community, with many industry figures now fearing for their safety.
Multiple Kidnapping Plots Uncovered
The investigation into the attack on Noizat’s family led authorities to uncover additional kidnapping plots targeting other cryptocurrency figures. French police foiled another abduction attempt near Nantes just as it was about to be executed. At least four suspects were involved in this second plot, which authorities managed to stop at the last minute. The swift police action suggests an increased vigilance from French law enforcement following the initial attack on the Noizat family.
All 25 suspects now face an investigating judge in Paris who will determine whether to file formal charges for attempted kidnapping and criminal conspiracy. The suspects are connected to multiple plots, with authorities specifically questioning their involvement in both the Paris attack and the foiled Nantes attempt. The coordinated nature of these plots indicates a sophisticated criminal network specifically targeting cryptocurrency executives who are perceived to have significant wealth.
Growing Concern in France’s Cryptocurrency Sector
The recent attacks mark the third violent incident targeting individuals in the cryptocurrency sector in recent months, creating a climate of fear among industry leaders. One prominent cryptocurrency entrepreneur has publicly criticized the situation, urging authorities to prevent what they described as the “Mexicanisation of France” – referring to the kidnapping tactics often employed by criminal organizations in Mexico to extort wealthy individuals and their families.
In response to the growing security crisis, Interior Minister Bruno Retailleau has taken decisive action by holding an emergency meeting with cryptocurrency industry leaders. During this meeting,
Retailleau announced plans to enhance security measures for those working in the cryptocurrency sector. These measures will aim to protect not only high-profile executives but also their families, who have increasingly become targets for violent criminals seeking to exploit the perceived wealth associated with cryptocurrency operations.
The French government’s response reflects the seriousness with which authorities are treating these incidents, recognizing that the country’s growing cryptocurrency industry requires specific security considerations to prevent further violence and attempted kidnappings. The case has highlighted how the largely digital cryptocurrency industry now faces very real-world security threats that extend beyond cybersecurity to physical safety concerns.
