Why France is suddenly the world’s epicenter for “crypto kidnappings”
What do the latest France crypto kidnapping cases say about how wealth, risk, and reality now collide?
Table of ContentsFrance crypto kidnapping goes beyond cybercrimeThe kidnapping of David BallandParis kidnapping targets family of crypto millionaireAttempted abduction of Paymium CEO’s family in ParisFrance’s role in the rise of crypto-targeted abductions
France crypto kidnapping goes beyond cybercrime
In recent months, a concerning trend has been unfolding in France. Several individuals linked to the crypto space have been targeted in a series of physical attacks, including cases of kidnapping, threats, and attempts to forcibly extract access to crypto wallets.
These incidents go beyond financial scams or cyber breaches, involving in-person coercion that often affects not just the individuals themselves but also their families.
Let’s dive into each of these cases, tracing how they unfolded and what they reveal about the evolving risks faced by crypto holders, and what this means for the personal security of those in the crypto space.
The kidnapping of David Balland
On the morning of Jan. 21, French entrepreneur David Balland, a co-founder of Ledger, one of the most prominent companies in the global crypto wallet space managing billions in digital assets, was kidnapped from his home in Méreau, a quiet village near Bourges.
Balland, 36, was abducted along with his wife during a targeted attack by an armed group that broke into their residence in the early hours.
According to official reports, the attackers forcibly separated the couple at gunpoint. Balland was taken to an undisclosed location, while his wife was moved elsewhere.
In captivity, Balland faced physical abuse aimed at coercing access to his crypto holdings. Investigators later confirmed that one of his fingers was severed by the kidnappers, serving both as a means of pressure and as proof of captivity.
The attackers sent a video of the severed finger to Balland’s business partner, identified in reports as Ledger co-founder Eric Larchevêque.
Along with the video came a demand for a ransom of €10 million in crypto. Larchevêque immediately contacted French authorities, prompting a coordinated investigation involving multiple law enforcement teams.
Within 48 hours, the police traced Balland’s location to a house in Châteauroux, about an hour from the abduction site. A raid was conducted, and Balland was recovered alive and taken to a hospital for treatment.
The following day, his wife was also found by police, tied in the trunk of a car parked in the Essonne area, south of Paris. Though shaken, she did not suffer major injuries.
The investigation led to the arrest of nine individuals, including a 26-year-old who is believed to have organized the operation. According to prosecutors, this person had a criminal history involving kidnapping.
Those arrested now face serious charges under French law, including kidnapping, torture, and armed extortion as part of an organized group.
Authorities revealed that a portion of the demanded ransom had been paid before Balland was located. It is believed that law enforcement allowed a small transfer of funds during negotiations, possibly to prolong talks and better trace the group’s location.
Most of the transferred crypto was later recovered or frozen.
The case was widely covered by French and international media. At a press conference on Jan. 23, Paris prosecutor Laure Beccuau described the crime as one involving “acts of torture and barbarity.â€
Ledger’s CEO Pascal Gauthier later issued a public statement expressing relief at the safe return of both Balland and his wife.
Paris kidnapping targets family of crypto millionaire
In early May 2025, French authorities responded to another targeted kidnapping tied to crypto wealth, this time involving the father of a young crypto entrepreneur.Â
The incident unfolded in central Paris, where a man in his fifties was abducted in daylight on May 1 while walking his dog in the 14th arrondissement. Reports confirmed that four individuals wearing ski masks forced him into a delivery van around 10:30 in the morning.
The victim was not a direct participant in the crypto industry, but his son, based in Malta, had reportedly accumulated substantial wealth through a digital asset marketing firm.Â
According to police statements and media accounts, the attackers were seeking to extract a ransom in crypto, demanding between €5 million and €7 million from the son in exchange for the safe return of his father.
After seizing the man, the kidnappers moved him to a residential area in Palaiseau, located roughly 20 kilometers south of Paris. He was held for two days.Â
During this time, the captors cut off one of his fingers, signaling a willingness to escalate harm unless the ransom was paid.Â
Authorities later stated that both father and son had received prior threats, suggesting the family had been monitored in advance.
Law enforcement teams tracked the perpetrators using a combination of mobile signal tracing and local surveillance. On the evening of May 3, a specialized police unit conducted a raid at the identified location.Â
The operation led to the successful recovery of the hostage. Though visibly shaken and physically injured, he was stabilized and received immediate medical care.Â
A total of five individuals were arrested in connection with the crime, including one suspect apprehended shortly after the raid.
Police confirmed that the ransom had not been paid, and that the fast response likely prevented further harm. All suspects are facing formal charges, including kidnapping, armed extortion, and criminal conspiracy.
This was the second confirmed kidnapping case in France in 2025 involving individuals tied to digital asset wealth. The Interior Ministry acknowledged the growing pattern, and officials began discussing potential measures to better protect individuals known to hold large volumes of crypto assets.
Attempted abduction of Paymium CEO’s family in Paris
On May 13, Paris witnessed another attempted abduction linked to the crypto world. This time, the targets were family members of Pierre Noizat, the co-founder and CEO of Paymium, a long-standing Bitcoin exchange based in the French capital.Â
The incident occurred around 8:20 AM on Rue Pache, in the 11th arrondissement, as Noizat’s adult daughter, her husband, and their two-year-old son were walking together.
According to police accounts and eyewitness footage later circulated online, a white van pulled up beside them. Three masked individuals exited the vehicle and tried to seize the woman and her child.Â
One of the assailants appeared to be carrying a handgun, which police later identified as a replica air pistol.
The attempted kidnapping quickly turned chaotic. The woman’s husband intervened immediately, engaging the attackers in a struggle despite being hit repeatedly.Â
The woman also resisted and, at one point during the scuffle, managed to disarm one of the attackers and throw the weapon into the street.Â
Witnesses on the scene described a tense and confusing few minutes. Initially unsure of the nature of the altercation, passers-by stepped in only after hearing calls for help and observing the intensity of the situation.
Several bystanders eventually intervened. One resident retrieved a fire extinguisher and threw it at the attackers’ van, which added to the disruption.Â
Realizing the situation was spiraling, the assailants retreated to their vehicle and fled. The van, driven by a fourth accomplice, left the scene quickly before police arrived.
Fortunately, the mother and father sustained only minor injuries and were treated at a hospital later that day. The child was physically unharmed.Â
Authorities classified the event as an attempted armed kidnapping and assigned the case to a specialized unit dealing with organized crime.
The perpetrators had not been apprehended at the time of reporting, though video evidence and eyewitness accounts provided police with a clear starting point for the investigation.
This incident stood out for several reasons. It took place in a populated neighborhood during school hours and was aimed not at a crypto entrepreneur directly, but at their immediate family.Â
The case followed closely on the heels of other crypto-related abductions, raising further concern about whether France was experiencing a targeted crime pattern.
Following the incident, members of the crypto community voiced concern over the risks of public exposure. Alexandre Stachtchenko, strategy director at Paymium, advised individuals involved in crypto to avoid disclosing personal or financial details unnecessarily.
France’s role in the rise of crypto-targeted abductions
The three incidents described earlier all took place in France between January and May 2025. That alone is notable. But when viewed alongside broader data, a more serious trend unfolds.
Out of 22 confirmed crypto-related abductions worldwide in 2024, six occurred in France — more than in any other country.
Meanwhile, in just the first five months of 2025, France has already seen several high-profile cases, prompting national media to refer to it as a hotspot for “crypto kidnappings.â€
There are a few reasons France may be experiencing more of these attacks than other regions.
First, the country has a strong presence of crypto companies, including Ledger and Paymium, and many of their founders continue to live and work locally. These individuals are often publicly visible, which can increase their vulnerability.
Second, a data breach involving Ledger in 2020 exposed the names and home addresses of thousands of wallet buyers. That leak led to threats, extortion attempts, and even physical letters being sent to French users.
While not directly linked to the kidnappings of 2025, the incident tells how quickly personal data can become a liability in the crypto space.
Law enforcement also believes some perpetrators may be adapting their methods from other types of crime.
While a few suspects had records involving violent offenses, they do not appear tied to large criminal networks. Instead, the attackers seem to be small, coordinated groups, often familiar with their targets, and using crypto’s perceived anonymity as a strategic advantage.
The assumption that funds can be moved quickly, across borders, and without detection may be encouraging this behavior, though blockchain analytics increasingly challenges that belief.
The French government has taken notice. In mid-May, Interior Minister Bruno Retailleau publicly addressed the issue, stating that crypto professionals must be made aware of the risks.
He convened a meeting with key industry figures to explore practical security measures for founders, executives, and their families.
The growing number of cases also raises concerns about copycat behavior. Once one group succeeds in extracting even part of a ransom, others may attempt to replicate the tactic.Â
Each successful incident spreads the perception, whether accurate or not, that crypto holders are both wealthy and reachable.
France, with its concentration of visible founders, limited privacy safeguards, and opportunistic local crime, may simply be the first country where these elements have come together. But it is unlikely to be the last.
For crypto to scale safely, personal security must evolve alongside financial infrastructure.Â
2025-05-16 01:12:12
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