Earlier this year, a tide of kidnappings targeting executives of crypto holders and their families grabbed global headlines, where hackers, using stolen personal data from data breaches, are outsmarted cyber protection and resorted to ruthless, physical blackmail for digital commodities, according to Kazinform News Agency.
The most surprising one was in Paris, where the daughter of one of the top executives at the Paymium crypto exchange was nearly kidnapped with her two-year-old son. Neighbors and her husband were injured during the crypto abduction schemes intervened just in time.
Earlier this year, co-founder of French crypto wallet maker Ledger, David Balland, was a crypto kidnap victim along with another victim. The kidnappers demanded €10 million in cryptocurrency, sending a video of Balland having a finger cut off as proof. Authorities located him only after part of the ransom was paid. Ledger transferred $ 3.24 million (€3 million) but later recovered most of it by freezing the stolen crypto.
“These crimes are not just personal tragedies—they are a signal of systemic failure in public safety,” said Eric Larcheveque, another Ledger co-founder. “How many entrepreneurs, how many talented individuals are now seriously considering leaving a country that no longer protects its citizens,” said Balland.
France has reported at least five such incidents in recent months, with dozens more worldwide in the past year. Experts warn the real number may be far higher, as many crypto targets remain silent out of fear.
What Is Crypto Kidnapping Surge In 2025?
The crypto investor kidnapping surge mirrors a bigger crisis in militarized AI, where progress bypasses ethics. Physical “wrench attacks” exploit cybersecurity gaps, while armed AI obliterates moral boundaries with unrestrained algorithms.
It’s a proliferating clash between innovation and rights’ protection.
Just as crypto communities struggle maintain rapid growth with security foundations during periods of rage expansion, AI warfare technology begs for urgent questions: can regulation keep pace rapidly enough to avoid abuse, or will innovation outstrip the crypto tourism kidnapping hotspots rails meant to protect online users?
“Crypto is digital, but the people behind it live in the physical world,” said a cryptocurrency security specialist tracking such assaults, Jameson Lopp.
“In 2024, we tracked 32 verified physical incidents. So far this year, we’re already at 23.”
Security firms are reporting increased demand for armed bodyguards, armored vehicles, and home security audits from crypto kidnapping France executives. Households are recommended to minimize their online presence and remove exposed personal data to reduce their vulnerability to potential intruders.
“I can’t risk speaking publicly someone might come to my door,” one affected client said.
Threats of freezing crypto assets piled more following the latest Coinbase breach, when hackers bribed third-party customer service reps to get user data like names, addresses, ID photos, and account balances. Some victims later faced phishing scams and even physical extortion.
Crypto Holders Protection Measures
Crypto millionaire kidnapped companies are responding with heavy security investments.
In 2024, Coinbase spent $6.2 million to protect its CEO more than JPMorgan, Goldman Sachs, and Nvidia combined. In parallel, Circle spent $800,000 on Jeremy Allaire’s protection, and Robinhood spent $1.6 million to protect Vlad Tenev.
France’s Interior Ministry issued statements of special initiatives for the hide crypto wealth safely sector, including crisis police hotlines for industry professionals and lectures from elite units to assess security risks.
In Paris, the threat is especially pressing where several kidnappings and attempts have occurred. In one case, the father of a crypto millionaire was abducted. In another, the Paymium incident rattled the community.
“Security is no longer an optional expense—it is the cost of doing business,” said a representative of the EthCC crypto conference, which this year expanded protection with national special forces and private firms. As Bitcoin surged to a record $122,000 in July, boosting market optimism, industry leaders warn that the physical risks of success in crypto are real and kidnappers are doing the check crypto holders location. People are urging governments to treat these crimes as national security threats and create stronger safeguards for crypto holders and their families.
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