In the past six months, at least four kidnappings or attempted kidnappings have occurred in France, Spain and Belgium. French police are investigating these violent crimes, involving ransom demands and cruel tactics, which raise concerns about the security of European crypto entrepreneurs.
Rising violent encryption-related crimes
Europe has witnessed a disturbing increase in kidnapping cases against crypto millionaires over the past six months, with at least four incidents in France, Spain and Belgium.
French authorities are investigating these cases, which often involve extreme violence, including torture and dismemberment. A high-profile case in Paris involves the father of a crypto entrepreneur who was kidnapped during the day, with His fingers were cut off, and the ransom demand was 50,000-70,000 euros. The victim was rescued by French police and five suspects were arrested.
Other events include Co-founder of the Ledger Kidnapping in January 2025He suffered torture to extort cryptocurrency holdings and kidnapped the father of another crypto influencer on May 1, 2025, also involved dismembering the family of the victims to exert pressure. In March, French police arrested ten people who planned to abduct.
French military police investigated the kidnapping of cryptocurrency entrepreneur David Ballard in France in January 2025. Source: AFP
These cases highlight the organized crime model for crypto entrepreneurs, leveraging the decentralized and often anonymous nature of cryptocurrencies that require untraceable ransoms, usually in Bitcoin BTC Or Stablecoins like USDT.
The high liquidity of crypto assets makes crypto entrepreneurs an attractive target, as criminals can quickly transfer funds through mixed services or unregulated communications.
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Risks for crypto millionaires keep increasing
The crypto millionaire’s goal highlights the vulnerability faced in the cryptocurrency industry. Many victims are high-profile figures, such as influencers or founders of crypto companies whose wealth is often advertised through social media or blockchain transparency.
For example, the public ledger of blockchain allows criminals to track wallet addresses associated with large shares, making crypto entrepreneurs the primary target. Not only millionaires, but also family members including parents and spouses are increasingly at risk.
The French police responded by strengthening security protocols for known encrypted data and working with Europol to track cross-border criminal networks. However, challenges remain, including the difficulty in tracking cryptocurrency transactions once funds are transferred to non-compliant exchanges.
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Experts recommend that crypto entrepreneurs take stricter security measures, such as using hardware wallets, adopting private security and minimizing public disclosure of wealth.
The kidnapping wave has also sparked debate on the wider impact of the cryptocurrency industry. Regulators are under pressure to tighten crypto transactions to curb illegal activities, although such measures pose risks stifling innovation.
