French police have successfully rescued the father of a wealthy cryptocurrency entrepreneur after he was kidnapped and held for ransom in a violent ordeal that shocked Paris and highlighted a growing trend of attacks on digital asset figures.
The victim, a man in his 50s whose identity has not been made public, was abducted Thursday morning in the city’s 14th arrondissement. Four masked men bundled him into a waiting van in broad daylight, according to police sources. The kidnappers demanded a ransom of between €5 million and €7 million ($5.7 million to $7.9 million) from his son, a crypto millionaire who runs a digital asset management company in Malta.
During his two-day captivity, the assailants severed one of the victim’s fingers and sent a video of the injury to his son, threatening further mutilation if their demands were not met. Fears for the victim’s safety prompted a swift response from law enforcement.
On Saturday night, police traced the kidnappers to a residence in Essonne, a suburb south of Paris, using mobile phone signals. In a coordinated raid, officers stormed the property, freeing the victim and arresting five suspects, all in their 20s. Four were apprehended at or near the house, while the fifth was caught driving a vehicle believed to have been used in the abduction.
The victim was given medical attention for his injuries. Authorities have not disclosed further details about his condition, but the brutality of the attack has drawn widespread condemnation. French Interior Minister Bruno Retailleau praised the “exceptional work” of the investigators in a statement posted to social media.
This incident marks the third high-profile kidnapping targeting France’s cryptocurrency sector in 2025 alone. In January, David Balland, co-founder of the crypto wallet company Ledger, was abducted alongside his wife and suffered a similar injury before being rescued by police. Another case earlier this year involved the attempted extortion of a Dubai-based crypto influencer’s family.
Police say the latest victim and his son had previously received threats, underscoring the heightened risks facing high-profile crypto entrepreneurs and their families. The investigation is ongoing, with suspects facing charges including kidnapping, torture, and extortion.
Authorities warn that the visibility and wealth associated with the cryptocurrency industry are making its figures increasingly vulnerable to targeted attacks, and have pledged to intensify efforts to combat this disturbing trend.
