Rise in Kidnappings Linked to Cryptocurrency
In France, a notable artist and proponent of cryptocurrency, Pascal Boyart, has placed blame on the government for a disturbing rise in kidnappings associated with digital assets. Speaking out on the social platform X, formerly known as Twitter, Boyart criticized the government’s handling of the situation, particularly in light of recent reports indicating an alarming escalation in physical assaults aimed at seizing cryptocurrency through what are termed ‘$5 wrench attacks.’
“The French government is 100% complicit,” Boyart expressed, denouncing the current judicial system as ineffective and pointing to Know Your Customer (KYC) regulations as tools in a broader campaign against cryptocurrencies.
For years, Boyart has advocated for the utilization of blockchain technology, believing it can provide transparency and liberate creators from the confines of traditional financial institutions.
Escalating Violence Against Cryptocurrency Holders
The frustration voiced by Boyart reflects a grim reality: a troubling trend of violence aimed at those who possess digital wealth. The term ‘$5 wrench attack’ refers to instances where attackers resort to physical threats instead of relying on high-tech hacking methods to extract private keys or passwords needed to access cryptocurrency holdings.
In recent years, France has seen a troubling uptick in such incidents, particularly with approximately 40 organized kidnappings linked to cryptocurrency being reported from 2023 through to the end of 2025. Many of these crimes are orchestrated by international criminal syndicates that use local criminals to execute their plans. Social media and leaked information are tools that these criminals exploit to track down individuals who are believed to hold significant amounts of crypto assets.
Noteworthy figures, including David Balland, the co-founder of Ledger, have been among those targeted during the past year.
