France intensifies initiatives to combat increasing cryptocurrency kidnappings following a viral unsuccessful incident.
France is implementing enhanced security protocols aimed at safeguarding crypto business leaders following a surge in violent kidnapping attempts that have alarmed the nation’s technology scene and pressured Interior Minister Bruno Retailleau, as reported on May 16.
The ministry disclosed that Retailleau held a private meeting with cryptocurrency founders to discuss their safety concerns.
This gathering was labeled “strictly confidential,” and media representatives were instructed not to record any part of it “due to security concerns.”
As part of their response, the government is now providing immediate emergency assistance, specialized police consultations, and evaluations of residential security systems to those at risk.
Retailleau, who is positioning himself as a firm anti-crime figure ahead of the 2027 presidential elections, claimed he is committed to halting these “intolerable” offenses.
Growing dangers
Kidnappings for crypto-related ransom and crime rates in France have risen sharply over the past year, with multiple incidents occurring recently.
Eric Larchevêque, co-founder of Ledger, noted that there have been 50 recorded attacks worldwide against individuals in the cryptocurrency sector in the last year, with 14 incidents happening in France.
Larchevêque, who participated in Friday’s discussions, expressed that he believes French authorities have recognized the seriousness of the situation.
The rise in concerns follows a notorious incident in January when a friend of Larchevêque and his spouse were abducted for ransom.
Just recently, law enforcement intervened in another incident where a hostage connected to a cryptocurrency entrepreneur had a finger amputated prior to a police raid. Seven suspects were apprehended in this case.
Failed kidnapping caught on camera
The most recent episode, recorded on May 14, involved masked individuals trying to force Paymium CEO Pierre Noizat’s daughter into a van during daylight hours.
The video depicted the woman and her husband grappling with their assailants on the street while onlookers shouted for assistance. A nearby shopkeeper ultimately scared off the attackers by hurling a fire extinguisher at their vehicle.
Noizat told the press that his son-in-law needed stitches from the assault and criticized judges and politicians for not taking adequate action. He cautioned that without significant governmental efforts, these crimes are likely to escalate.
The Interior Ministry’s strengthened measures are designed to mitigate fears that violent crime may undermine France’s digital finance aspirations, which are a key element of President Emmanuel Macron’s economic initiatives.
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