Recent Kidnapping Case in France
Authorities in France have arrested seven individuals in connection with the recent abduction of a 20-year-old Swiss national, a case that highlights an alarming trend of cryptocurrency-related kidnappings in the country. This incident marks a continuation of a series of “wrench attacks,” where affluent cryptocurrency traders or their families are violently targeted for ransom, emphasizing the risks associated with digital wealth in today’s landscape.
Rescue Operation
Last Sunday, a coordinated operation involving 150 members of the Gendarmerie resulted in the successful rescue of the victim in Valence. He was located tied up in a residence in proximity to the city’s fast train station, as reported by local news outlet Le Dauphiné Libéré.
Rising Trend of Wrench Attacks
Security analysts have pointed out that France has become a prominent hub for such criminal activities, with Jameson Lopp, a noted analyst, identifying at least ten wrench attacks within the country in just 2025. This figure represents nearly 25% of the 48 such incidents reported globally this year.
Cybercrime consultant David Sehyeon Baek stated that the actual number of cases might be even greater than recorded, due to many victims opting for silence to safeguard their reputations and avoid becoming repeat targets.
High-Profile Kidnappings
Recent high-profile kidnappings in France have shown the extreme lengths that criminals will go to. For instance, earlier this year, a gang abducted David Balland, co-founder of Ledger, and amputated his finger while demanding ransom before he was freed. Similarly, in May, a kidnapping incident involved the father of a crypto executive from Malta, who endured a similar fate prior to a police intervention.
Law enforcement officials also apprehended Badiss Mohamed Amide Bajjou in Morocco, along with charging 25 individuals regarding a range of criminal schemes, including a harrowing attack on the pregnant daughter of Paymium’s CEO.
Global Implications
However, this troubling issue extends beyond the borders of France. Global criminal organizations are increasingly exploiting the anonymity and ease of transaction provided by cryptocurrencies to carry out extortion efforts, making digital assets highly appealing targets. A notable example occurred in March when Chinese-Filipino steel tycoon Anson Que was killed after his captors demanded a $20 million cryptocurrency ransom.
Other incidents include a Turkish national ambushed during a lucrative crypto transaction in Hong Kong and a Spanish businessman in Brazil, who was sedated and held captive for five days while his kidnappers sought a ransom of $50 million.
