Paris is again in the headlines with a chilling account of a crypto-related crime. Alexandre, a former cryptocurrency trader, was kidnapped and tortured for ransom, according to French daily newspaper Le Parisien. A police investigation began after a caller reported receiving images from the victim’s phone showing him on his knees with his hands tied.
The kidnappers demanded a ransom of €10,000 to release the victim. This demand helped authorities advance the investigation by using geolocation software to track his phone’s location.
Growing concerns over crypto-related abductions
This isn’t the first time Paris has seen such a case. Analysts say this is one of at least ten reported crypto-linked kidnappings in France.
From the abduction of the daughter and grandson of the CEO of crypto firm Paymium to the latest case of Alexandre, the streets of France have become a hub for crypto-based crime.
In a separate incident in January, Ledger co-founder David Balland and his partner were brutally tortured, and Balland’s fingers were burned. An elite police force eventually rescued them. Balland was freed the next day, while his girlfriend was found tied up in the trunk of a car outside Paris. Twelve suspects were later arrested.
Another abduction was reported in May. Criminals kidnapped a crypto entrepreneur’s father in broad daylight, severing one of his fingers before police intervened and rescued him from a house in south of Paris. Le Figaro, a French daily news publication, reported that four masked men forced him into a delivery van. Four suspects were arrested in that case.
In June 2025, The Guardian news portal reported the arrest of 25 people, including six minors, for kidnapping and attempted abduction of top crypto figures in France.
Why is France vulnerable to these crimes?
Bitcoin has gained momentum in France, since its inception in 2009. Leading to increased accessibility and public interest in crypto, some major French cities even have crypto ATMs, and many businesses accept crypto as a form of payment. With France granting the Digital Asset Service Provider (DASP) registration to Binance in 2022, the country has positioned itself to take a lead in the crypto space.
According to cybersecurity consultant David Sehyeon Baek, who spoke with Decrypt, “wrench attacks” are part of a disturbing pattern of crypto-related kidnappings that are far more widespread than official reports suggest.
A crypto crime hotspot
Globally, at least 32 “wrench attacks” have been reported in 2025, according to Bitcoin security advocate Jameson Lopp, and nearly one-third of them happened in France. The country is now considered one of the world’s riskiest hotspots for violent, crypto-driven crime.
