France is stepping up security for cryptocurrency entrepreneurs and their families following a recent surge in kidnappings. It’s gotten serious enough that the government is taking action.
A Wave of Kidnappings
This year alone, there have been at least three high-profile attempts to kidnap people connected to the crypto industry in France. These incidents include:
- May 13: An attempt to kidnap the daughter and grandson of a Paymium CEO.
- May 3: The successful kidnapping of a crypto executive’s father, who was later rescued by police. The ransom demand was a hefty €7 million.
- January 21: The kidnapping of David Balland, co-founder of Ledger, who was released after an overnight ordeal.
These incidents are part of a larger trend. Police reports show over 150 crypto-related robberies and kidnappings since 2014, with 23 occurring in 2025 alone.
Government Response: Increased Security Measures
The French government, specifically Interior Minister Bruno Retailleau, is responding with several new security measures:
- Priority access to emergency services: Crypto industry members will get faster responses from the police.
- Home security assessments: Experts will help assess and improve the security of homes.
- Safety briefings: Law enforcement will provide families with advice on staying safe.
The goal is to deter future attacks and make it harder for criminals to target this community.
Expert Advice: Staying Safe in the Crypto World
Security expert Jameson Lopp offers some practical advice to minimize risk:
- Avoid peer-to-peer trades with strangers.
- Don’t show off your wealth online or in public.
- Use a mix of online and offline (“cold”) storage for your crypto.
- Use regulated exchanges.
- Consider hiring professional security if needed.
What’s Next?
The future might bring a dedicated crypto-crime task force in France, and possibly harsher penalties for those involved in ransom kidnappings. Crypto executives are likely to be more cautious about their public profiles. The French government plans to adapt its strategy as the situation evolves, keeping a close eye on the numbers and working with affected families.