Five arrested over cryptocurrency kidnapping in France

French authorities have arrested five people on charges of kidnapping the father of an influencer and cryptocurrency entrepreneur, prosecutors said on Saturday, June 21. In recent months, France has seen several kidnappings and attempted abductions targeting cryptocurrency businesspeople and their families, and authorities have been under huge pressure to act.
On December 31, 2024, five armed people attacked a man and a woman in their home in the eastern town of Saint-Genis-Pouilly near the Swiss border. In exchange for their release, the attackers demanded a ransom from their son, an influencer living in Dubai, prosecutors said at the time.
When they did not receive the ransom, they abducted the father, who was found a few hours later in the boot of a car in the department of Sarthe, nearly 700 kilometres away. The 56-year-old man had been "assaulted, doused with petrol and transported in the boot of a car," prosecutor Karine Malara said in a statement. His wife was found tied up at her home in Saint-Genis-Pouilly.
Five people were arrested on Tuesday as part of a criminal investigation. They were taken into custody on Friday on charges including kidnapping, armed robbery and aggravated assault, Malara said. The suspects are four adults aged 18 to 22 and a 17-year-old minor.
Several recent cases
The prosecutors have not released the name of the cryptocurrency entrepreneur, saying only that his "success was well known to the general public."
Three of the adults in pre-trial detention have extensive criminal records, including for violence, theft, drug and currency trafficking, and possession of weapons. The minor has a record for aggravated theft.
In May, 25 people, including six minors, were charged over several kidnappings and attempted abductions of cryptocurrency entrepreneurs and their family members. The most high-profile incident under investigation is that of a kidnapping attempt targeting the daughter and grandson of Pierre Noizat, the chief executive officer of crypto firm Paymium. The abduction bid was carried out in broad daylight in Paris in May.
In June, five men were arrested in northern France, suspected of planning the kidnapping of a young man and his mother. They allegedly intended to cut off one of the woman's fingers to obtain a ransom from the son, who owned cryptocurrencies.
Malara said that no link had so far been established between this week's arrests and the other kidnapping cases.

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