In a recent turn of events in the crypto world, the father of an unnamed crypto entrepreneur was rescued by police in Paris, France, following a harrowing kidnapping incident. The rescue operation took place during a law enforcement raid on the property where the man had been held captive for ransom over several days. Reports from Le Monde revealed that the raid on May 3 led to the arrest of five individuals involved in the abduction.
The kidnappers had demanded a ransom ranging between 5 million and 7 million euros, which translates to approximately $6-8.8 million, in exchange for the release of the victim. While the specific identities of the victims have not been disclosed, likely for security reasons, it was disclosed that the crypto entrepreneur and his father were co-owners of a crypto marketing firm based in Malta, as reported by French media outlets.
This incident bears striking similarities to a previous high-profile crypto kidnapping case involving David Balland, co-founder of Ledger, who was also held for ransom until law enforcement intervened in a rescue operation in France in January 2025. Unfortunately, these incidents highlight a disturbing trend of ransom attempts targeting individuals associated with the crypto industry, aiming to extort significant sums of money from them.
The crypto community has witnessed a series of alarming incidents in recent times, underscoring the vulnerability of high-profile figures to such criminal activities. For instance, WonderFi CEO Dean Skurka was kidnapped and forced to pay a $1 million cryptocurrency ransom after being abducted in downtown Toronto, Canada, in November 2024.
In a separate case in Chicago, Illinois, six individuals were charged in February 2025 for kidnapping a family and their nanny in exchange for a crypto ransom. The kidnappers gained entry into the family's home by falsely claiming they had damaged the garage door, subsequently holding the family captive for several days until they surrendered $15 million worth of cryptocurrencies for their release.
The crypto industry's allure has made it a target for criminals seeking to capitalize on the perceived wealth of individuals involved in the space. From high-profile executives to online personalities like Amouranth, who was subjected to a home invasion in March 2025, these incidents serve as stark reminders of the risks associated with being part of the crypto ecosystem.
As law enforcement agencies continue to grapple with these challenges, it is imperative for individuals in the crypto space to remain vigilant and take necessary precautions to safeguard themselves against potential threats and extortion attempts.
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