French Police Rescue Kidnapped Father of Crypto Millionaire After Ransom Demand

TLDR

• French police rescued the father of a crypto millionaire who was kidnapped in Paris
• Kidnappers demanded between €5-7 million ($5.6-7.95 million) in cryptocurrency as ransom
• The victim’s finger was severed during the “wrench attack” – a physical threat to override crypto security
• Five suspects in their twenties were arrested during the police raid in Essonne, south of Paris
• This marks the third crypto-related kidnapping in France this year, part of a global trend

The father of a cryptocurrency millionaire has been rescued by French authorities after being held hostage for several days, marking another violent “wrench attack” targeting those perceived to have cryptocurrency wealth.

The victim, whose identity remains protected, was abducted Thursday morning in Paris’s 14th arrondissement. Four masked men forced him into a delivery van in broad daylight, according to reports from Le Monde and Agence France-Presse.

French police located the victim Saturday night during a coordinated raid on a rental property in the Essonne region south of Paris. Five suspects, all in their twenties, were arrested during the operation, which involved specialized cybercrime and intervention units.

The kidnappers had severed one of the victim’s fingers and demanded a ransom between €5 million ($5.6 million) and €7 million ($7.95 million) in cryptocurrency. French authorities confirmed that no ransom was paid before the rescue.

Investigators learned from the victim’s wife that her husband and their son operated a cryptocurrency marketing firm registered in Malta. This connection appears to be why the kidnappers targeted the family, believing they had access to large cryptocurrency holdings.

Rise of “Wrench Attacks”

This incident represents the latest in what security experts call “wrench attacks” – physical threats used to override cryptocurrency’s digital security measures. The term comes from a 2012 XKCD comic and was examined in the first major study on such attacks by researchers at the University of Cambridge and University College London.

These attacks “undermine the efficacy of existing digital security norms when confronted with real-world threats,” according to the researchers. The Paris incident is the 21st such attack documented this year in Jameson Lopp’s GitHub repository tracking physical Bitcoin attacks.

In January, Ledger co-founder David Balland was similarly kidnapped and mutilated before police rescued him. Ledger CEO Pascal Gauthier described it as a “traumatic situation that we hope will never be repeated.”

Security experts like Rigel Walshe, developer at Swan Bitcoin and former police constable, urge crypto holders to practice “relaxed awareness” and stay “alert and prepared” to prevent such attacks.

Global Pattern of Crypto Extortion

The Paris kidnapping fits into a growing pattern of similar incidents worldwide. In November 2024, WonderFi CEO Dean Skurka was kidnapped in Toronto and forced to pay a $1 million cryptocurrency ransom.

In February 2025, six people in Chicago were charged with kidnapping a family and their nanny, forcing them to surrender $15 million in cryptocurrency for their release.

Just months ago, online streamer Amouranth was held at gunpoint during a home invasion where suspects demanded keys to her cryptocurrency. Four suspects were later arrested in Texas in connection with that incident.

In Pakistan, trader Mohammed Arsalan was kidnapped in a scheme involving local law enforcement officers and released after paying $340,000 in cryptocurrency to his captors.

This latest French rescue operation demonstrates the efforts of law enforcement to combat these crimes, but also highlights the risks faced by those involved in cryptocurrency as these violent extortion attempts continue to occur worldwide.

The Paris prosecutor’s office continues to investigate the case as authorities work to understand the full details of the kidnapping plot.