French police arrest kidnappers who demanded millions in ransom for father of crypto millionaire

A kidnapping victim has been freed by French police after a raid late Saturday night, according to local media reports. The kidnappers demanded a ransom of between €5-7 million for the man, who "appears to be the father of a man who made his fortune in cryptocurrencies," according to French prosecutors. The kidnappers reportedly severed one of the man's fingers, mimicking recent violent extortions of the crypto-wealthy, including Ledger co-founder David Balland, a fellow Frenchman who was similarly mutilated. Four men wearing ski-masks reportedly ushered the man into a delivery van and abducted him. The attack reportedly took place in broad daylight, at 10:30am on Thursday, as he walked down a street in Paris's 14th arrondissement. The four, and a fifth man identified as a driver, were arrested by French police, who said the men were all aged in their 20s. The victim's wife said her husband and son, who both own a crypto marketing firm based in Malta, had been the threat of crypto-related threats in the past, according to a police source quoted by Le Monde. No ransom was paid before the man, who has yet to be publicly identified, was rescued. Such violent crypto-related crime appears to be on the rise. A Canadian man was reportedly forced into hiding earlier this year following a similar kidnapping and torture attempt. Though police investigations revealed the attackers thought the man had more than $2.5 million worth of crypto based on the man's social media activity, the man said his actual holdings summed closer to $100,000. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.