Crypto Crime Wave: Bruno Retailleau to Meet Industry Leaders After String of Violent Kidnappings

In response to a surge in kidnappings targeting cryptocurrency entrepreneurs and their families, French Interior Minister Bruno Retailleau announced on Wednesday, May 14, on Europe 1 and CNews, that he will convene a special meeting this Friday at the Interior Ministry (Beauvau). The goal: “To work together on their security” and “implement concrete measures to protect them,” he stated, while also vowing that “those behind these crimes — even abroad — will be found.”

The announcement comes just one day after a violent kidnapping attempt in central Paris, targeting the daughter and grandson of the CEO of cryptocurrency exchange Paymium.

Targeted Abductions Rock the Crypto Industry

Since the beginning of the year, several similar incidents have highlighted a disturbing rise in criminal activity linked to the crypto sector. On January 22, David Balland, co-founder of Ledger, was released after being kidnapped from his home in the Cher region. His partner was found the following day, tied up in the trunk of a car in Essonne. The alarm had been raised by Eric Larchevêque, Ledger’s other co-founder, who received a chilling video showing one of Balland’s severed fingers along with a large ransom demand in cryptocurrency. Nine people have since been indicted, including the suspected mastermind.

Families Targeted for Crypto Ransom Demands

In another case in early January, a 56-year-old man was discovered locked in the trunk of a car near Le Mans, hundreds of kilometers from his home in the Ain department. Media reports identified him as the father of a crypto influencer based in Dubai, known for sharing videos of his earnings. A “very large” ransom was demanded.

On May 1st, four masked men abducted the father of another crypto millionaire in the heart of Paris. He was released two days later. Five suspects have been indicted in connection with that case.

Amid growing anxiety within France’s crypto community, Retailleau’s upcoming meeting is seen as a strong political response to an alarming wave of targeted criminal acts.