France sees rise in violent “wrench attacks” targeting crypto holders

Binance France CEO David Prinçay was the victim of a poorly executed house invasion in Val-de-Marne on Thursday. 

Local police reports said that three masked men who were allegedly armed broke into a residential building early on February 12, around seven o’clock, in an attempt to find Binance’s local CEO.

The reports revealed that the robbers first forced their way into another resident’s home to get directions to the correct apartment. According to police, the suspects took two cell phones and fled after failing to find him.

Amateur kidnappers arrested in France following train chase

The trio did not stop there. A Vaucresson resident who had just been hit on the head with a gun butts by multiple masked guys contacted police in the Hauts-de-Seine department at 9:15 a.m. The Vaucresson resident reported hearing them say, “The address isn’t right,” and “Stéphane lives at number 41.” Later, checks would verify that a cryptocurrency entrepreneur actually lived at number 41. Then the three men ran away.

The exact address was used to track down the two pilfered cell phones. CCTV footage also showed that the identical vehicle seen in the Val-de-Marne department that morning was being used by the criminals. 

French outlet RTL reported that Police units from Hauts-de-Seine, Val-de-Marne, Yvelines, and the transport police were called in, along with the Parisian BRB (Brigade de Répression du Banditisme, or Organized Crime Unit). 

According to the report, the track revealed the trio boarded a train to Lyon after being readily followed on public transit. Later, the suspects were captured at Lyon Perrache train station after the Lyon BRI received an urgent alert, and they were placed under arrest.

France has faced a steady increase in so-called “wrench attacks,” where attackers employ threats or physical force to get access to cryptocurrency holdings. On September 5 of last year, Cryptopolitan reported that French authorities detained seven suspects in relation to the abduction of a Swiss man, aged 20. 

The report revealed that the victim was rescued by 150 military police officers who reportedly carried out a special operation in Valence. The military police officers found him in a residence close to the city’s high-speed train station.

In another Cryptopolitan report dated June 20, 2025, David Baland, a co-founder of Ledger, was abducted, had a finger amputated, and was held hostage before being freed. 

The same month,  a young man was kidnapped while his girlfriend was out shopping. She later received a video call from his phone. Instead of him, a man appeared on the screen and told her to wait outside the house with a bag containing 5,000 euros ($5,750) in cash and a Ledger wallet that had an undetermined amount of cryptocurrencies for his release.

France leads global surge in wrench attacks 

CertiK reported earlier this month that the 2025 Wrench assault resulted in confirmed losses of $40.9 million. According to CertiK, many victims choose not to disclose attacks because the ransom amount is not visible on the public blockchain, or because the attacker promised a private settlement.

France had the most attacks, with 19 reported in 2025. Europe was the hardest-hit region last year, with over 40% of all reported ranch assaults occurring there.

Although CertiK did not name the precise locations of all the attacks, it did mention that they occurred across several continents. Individual investors and participants in cryptocurrency marketplaces were among the targets. This subject has attracted international attention due to several noteworthy incidents.

Certik and other members of the cryptocurrency community advised crypto holders to keep their holdings private to avoid flaunting their wealth online and to restrict information that connects their real identities to their blockchain addresses.

Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program