In a chilling incident that underscores the growing risks faced by cryptocurrency entrepreneurs, French police have successfully rescued the father of a French crypto-millionaire who was kidnapped in Paris. The victim, a 60-year-old man, was abducted on the morning of Thursday, May 1, 2025. Four masked assailants forced him into a delivery van and transported him to a house in the Essonne region, south of Paris.
Over the next two days, the kidnappers demanded a ransom between €5 million and €7 million from the victim’s son, a prominent figure in the cryptocurrency industry. In a gruesome attempt to pressure the payment, they severed one of the victim’s fingers and sent a video of the mutilation to his son.
A Calm Morning Turns Into a Nightmare
On the morning of Thursday, May 1, the victim was walking his dog in the 14th arrondissement of Paris, a residential area on the city’s Left Bank. Suddenly, four masked men ambushed him, forced him into a delivery van, and drove him more than 30 kilometers south to a rented house in the Essonne region.
Authorities later revealed that the house was used as a makeshift detention center. Once there, the victim was restrained and subjected to torture. According to investigators, the goal was to extort a large ransom from the victim’s son, a well-known French crypto-millionaire in France’s growing cryptocurrency scene.
Crypto Wealth Becomes a Target
The kidnappers reportedly demanded between €5 million and €7 million (approximately $5.4 million to $7.5 million USD) in cryptocurrency. They knew that the victim’s son had accumulated significant wealth through crypto trading and investments. The captors sent messages and threats to the French crypto-millionaire over two days, pressuring him to pay quickly.
In a brutal act meant to escalate the threat, the kidnappers cut off one of the father’s fingers and sent a graphic video to the son, showing the mutilation. This horrifying tactic, investigators believe, was intended to force the ransom payment by any means necessary.
Police Response: Fast and Strategic
The case was handled by France’s elite Search and Intervention Brigade (BRI), a tactical unit specializing in high-risk rescue operations. Investigators traced phone signals, vehicle movements, and surveillance footage to track the suspects.
On the evening of Saturday, May 3, the BRI launched a coordinated rescue raid on the house in Essonne. According to reports, the operation took place just minutes before the kidnappers planned further mutilation of the victim. He was freed alive but shaken and physically injured.
During the raid, five individuals aged between 23 and 27 were arrested on site. French police confirmed that these suspects had criminal records and were believed to be part of a larger gang involved in organized crime and crypto-related targeting. The group had reportedly researched several French crypto-millionaires before deciding on their victim.
Not an Isolated Case
This is not the first time a French crypto-millionaire has faced violent threats. In January 2025, David Balland, co-founder of the crypto hardware wallet company Ledger, and his wife were kidnapped from their countryside home. In that incident, the attackers also severed Balland’s finger and demanded a €10 million ransom in cryptocurrency.
French authorities were able to locate and rescue both victims in separate operations, and seven suspects were later charged. That case remains under active investigation, and officials are now exploring whether there is a connection between these two events.
Growing Risks in the Crypto World
Cryptocurrency has created immense personal wealth in a short time for many early investors, but it has also made some individuals highly visible and vulnerable targets. Unlike traditional bank accounts, crypto assets can be transferred instantly and anonymously, making them a preferred choice for criminals demanding ransom.
France’s judicial police are now investigating the May 1 kidnapping under charges that include kidnapping with acts of torture or barbarity, a severe offense under French law that carries long prison sentences.
Security experts warn that as crypto adoption grows, so will the sophistication and violence of criminal attempts to exploit it. Without proper personal protection, French crypto-millionaires and other public figures in the digital finance world could become repeated targets.
Official Statements and Public Reaction
Authorities have praised the speed and professionalism of the BRI in rescuing the victim before the situation worsened further. A spokesperson for the French Ministry of the Interior said:
“This rescue operation was a race against time. The bravery of our officers prevented what could have been an even more tragic outcome.”
The French crypto-millionaire, whose identity is being kept private for security reasons, is reportedly cooperating with police. He and his father are now under 24-hour protection, and further arrests are expected as the investigation continues.
Meanwhile, the public has reacted with a mix of shock and concern. Online discussions within France’s crypto community now revolve around how to stay safe in an increasingly dangerous environment, especially for high-profile individuals.
Looking Ahead
French lawmakers are calling for new digital security guidelines and better protections for those involved in cryptocurrency. Some are even proposing anonymous ownership registries and limits on crypto-related public exposure.
The Paris Prosecutor’s Office has warned that such crimes may become more common unless both the crypto industry and law enforcement adapt quickly.
For now, this latest rescue is a reminder of the real-world dangers tied to digital wealth. As France positions itself as a leader in Web3 innovation, it must also confront the dark side of financial decentralization, and ensure that no French crypto-millionaire has to face such terror again.
