French authorities hunt criminals targeting people involved in crypto

Authorities in Paris, France, have been on a roll, picking up suspects in recent kidnappings and attempted abductions in the country linked to crypto executives, high net-worth individuals and their relatives. 

There is a fresh crop of criminals targeting crypto holders, and they are not just here to rug tokens or hack protocols. These ones take a much more direct and physical approach, but law enforcement is always just around the corner, as proven by the recent arrests made in connection with crimes linked to crypto-oriented people.

French authorities hunt criminals targeting people involved in crypto

According to reports, the recent kidnapping cases in the cryptocurrency world have been linked with a common demographic: young and violent perpetrators, hired by the same sponsors who manipulate them, all behind pseudonyms.

Enfant exfiltré, arme factice, société en crypto… Récit d’une tentative d’enlèvement surréaliste en plein Paris
➡️ https://t.co/CoiJGY8v2s pic.twitter.com/b43QsZwDiS

— Le Parisien (@le_Parisien) May 14, 2025

In Paris, there were two high-profile cases recorded this May alone and one in New York. One was the kidnapping and mutilation of the father of a young poker player who made bank in cryptocurrency on May 1. The other was the attempted kidnapping of the daughter of the CEO of a virtual currency company on May 13.

Investigators from the Brigade for the Repression of Banditry (BRB), with the support of several services including the Paris Research and Intervention Brigade (BRI), launched a major raid on Monday morning to apprehend suspects linked to the crimes.

The raid was a success, and they came away with more than a dozen suspects, and several minors were among them.

In the first case, the criminals demanded between 5 and 7 million euros in the form of a wire transfer from the victim’s son in exchange for his release. They severed one of the victim’s fingers and recorded it to coerce his son into cooperating.

Fortunately, the sixty-year-old was rescued during an operation coordinated by the BRI of the Paris judicial police with the BRB and the criminal brigade after locating the hideout where the victim was being held, in Palaiseau (Essonne).

Half a dozen suspects, including alleged kidnappers, have already been identified, charged and imprisoned. As for the second case, the target was the 34-year-old daughter of Pierre Noizat, the CEO and co-founder of Paymium, a cryptocurrency exchange platform. The kidnapping attempt was caught on film by bystanders.

The attempted kidnapping happened on May 13, in the middle of the 11th arrondissement of Paris, near a school. Although the shocking scene unfolded before the eyes of many civilians, they were too scared to intervene despite the victim’s screams.

It took the heroic intervention of a young man and that of the victim’s companion to deter the kidnappers, and as of Monday morning, no suspects have been arrested in this case.

Investigators are now exploring the potential of both crimes being planned by a joint criminal organization, with interchangeable goons recruited on social networks.

Violent crimes may increase as crypto gains popularity

Violent crimes have spread through the cryptocurrency community like wildfire and have triggered a feeling of insecurity in the cryptocurrency community.

On X, formerly Twitter, many users have highlighted the crimes, frowning upon the growing frequency and the sluggishness of the authorities to address it.

Aside from kidnappings, there have also been “wrench attacks” that use physical force to obtain victims’ private keys or crypto information, with Bitcoin being the most targeted cryptocurrency.

𝐊𝐢𝐝𝐧𝐚𝐩𝐩𝐢𝐧𝐠 𝐜𝐚𝐬𝐞𝐬 𝐥𝐢𝐧𝐤𝐞𝐝 𝐭𝐨 𝐜𝐫𝐲𝐩𝐭𝐨 𝐚𝐫𝐞 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐜𝐫𝐚𝐳𝐲 𝐭𝐡𝐞𝐬𝐞 𝐝𝐚𝐲𝐬 🚨🚨

In New York, a 37-year-old #crypto investor named John Woeltz has been arrested for kidnapping and torturing a 28-year-old Italian man for 3 weeks.

The… pic.twitter.com/vyw0Xu1oZf

— Wise Advice (@wiseadvicesumit) May 26, 2025

In one that happened on May 6 in New York, a 28-year-old man was kidnapped, tortured, and forced to reveal his Bitcoin password in a $100M NYC townhouse owned by 37-year-old John Woeltz, a crypto investor.

Woeltz was arrested after the victim escaped from the eight-bedroom townhouse and got help from a passing traffic officer. He is charged with kidnapping, assault, and weapons.

Stakeholders have warned that such violent attacks may increase in 2025 because of Bitcoin’s pseudonymous nature and law enforcement challenges.

Users on X have been taking precautions with many advising against showing off your holdings on social media or moving around with your crypto wallet.

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