In a dramatic nighttime operation, French law enforcement successfully rescued a man who had been taken hostage for ransom, marking yet another incident in a troubling trend of crypto-related kidnappings.
The police intervened on Sunday to free the father of a cryptocurrency entrepreneur, who had reportedly been held captive in an Airbnb for two days. This information was confirmed by various sources, including Le Parisien, CNN, The Independent, and The Economic Times.
French Interior Minister Bruno Retailleau praised the police’s efforts, stating that they executed “an exceptional job” in both liberating the victim and apprehending the kidnappers.
Un immense bravo aux enquêteurs qui ont fait un travail exceptionnel pour libérer cet homme et pour interpeller ses ravisseurs. Merci à @NunezLaurent et à la @prefpolice pour leur engagement décisif. https://t.co/e7PUr2OxzV
— Bruno Retailleau (@BrunoRetailleau) May 3, 2025
The prosecutor’s office reported that on Thursday morning, four men wearing ski masks abducted the victim in Paris. “The victim turned out to be the father of a man who made his fortune in cryptocurrencies,” the statement revealed, while also noting that a ransom demand was issued.
The identities of both the victim and the entrepreneur have not been disclosed. However, reports indicate that the kidnappers sought a ransom ranging from €5 million to €7 million (approximately $5.67 million to $7.9 million), and no payment was reported to have been made.
Allegations surfaced that the kidnappers severed one of the victim’s fingers and sent a video of the injured man to his son, demanding money. According to The Economic Times, there were serious concerns about further mutilations had police not acted in time.
Authorities have apprehended five suspects, ages 23 to 27, in connection with this crime. Four of the suspects were either inside or near the Airbnb location, while the fifth was allegedly driving the van used in the abduction.
An investigation has been launched, with various criminal charges under consideration, including kidnapping “with torture or a barbaric act,” extortion by an organized gang, and criminal conspiracy, as outlined by The Independent.
The victim’s wife informed investigators that her husband and son own a cryptocurrency marketing firm based in Malta, and both have faced previous threats.
This incident underscores the increasing dangers faced by affluent cryptocurrency holders, as incidents of this nature have escalated in recent times.
While authorities are still determining whether this case is connected to other recent crypto kidnappings, expert Guillaume Farde noted similarities in the methodology of these crimes. “Obviously there’s at least a link in the modus operandi. Now, whether it’s the same team or not is for the investigators to say,” he stated in a televised interview.
The current case shares striking parallels with numerous other kidnappings in France and abroad. Notably, David Balland, a co-founder of Ledger, a crypto hardware wallet manufacturer, was abducted along with his wife in January 2025, and suffered a similar fate when his kidnappers sent a video demanding ransom after cutting off his finger.
Additionally, in November 2024, Dean Skurka, CEO of Toronto’s WonderFi Technologies, was kidnapped in downtown Toronto during rush hour, ultimately being released after a $1 million ransom was paid.
In a related incident from December 2024, the wife of renowned crypto investor Stéphane Winkel was abducted from their home in Belgium, but later escaped following a chaotic police pursuit that involved a car crash.
Earlier this year, a group of seven men in the UK received lengthy prison sentences for their roles in the kidnapping, torture, and extortion of a cryptocurrency investor. Moreover, in February, U.S. authorities charged six individuals involved in a larger scheme that saw four people abducted from Chicago, with demands to transfer roughly $15 million in cryptocurrency.
These cases are part of a growing list of reported crypto-related kidnappings emerging over the past few months, highlighting the persistent risks in this burgeoning financial landscape.
