Based on reports, French police have stepped up their efforts after a crypto entrepreneur’s father was brutally kidnapped and had a finger severed to force a ransom. It’s a crime that has rattled the industry and raises tough questions about personal safety.
Growing Number Of Crypto Kidnappings
According to a GitHub list by Jameson Lopp, there have been almost 30 in-person crypto attacks so far in 2025. That pace puts this year on track to top the 35 attacks recorded in 2024 and the 24 attacks in 2023. Many cases fly under the radar, since victims often fear coming forward.
Based on reports from France 24, the victim was held for several days in a secluded property. The kidnappers demanded up to 7 million euros ($8 million) in ransom.
They even cut off one of his fingers to show they meant business. A police raid on May 3 freed him and led to five arrests at the scene.
The number of crypto-related attacks have been up in 2025. Image: Quinnipiac University
Cross Border Arrests
According to state media, investigators also nabbed a suspect in Morocco on June 4 suspected of orchestrating several of these crypto-related kidnappings.
Back home in France, more than 12 people linked to high-profile cases were held on May 26. Under French law, suspects can be held for up to 96 hours without charges.
Calls For Tighter Security
The wave of attacks has prompted crypto firms to boost their own protection measures. Interior Minister Bruno Retailleau called a meeting to tackle the rise in violence.
Chainalysis CEO Jonathan Levin told attendees at the 2025 Consensus conference on May 15 that criminals still believe digital money is untraceable. And on June 5, Kraken’s security chief Nick Percoco warned in a blog post that many crypto users lack basic situational awareness at events.
A Wider Pattern Of Underreporting
Experts warn these “wrench attacks” might be even more common than numbers show. A University of Cambridge study in September found that victims worry about being targeted again, or about public shame.
The study also noted that attackers range from organized crime syndicates to people known to their victims, like friends or family.
Industry leaders now face a stark choice: leave personal safety up to chance, or treat security as a top priority. For many in crypto, that means using hardware wallets, keeping travel plans private, and working with vetted security teams.
The brutal nature of these crimes shows that simply relying on code won’t be enough to keep people safe.
Featured image from Public Discourse, chart from TradingView
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