French police make more arrests in crypto kidnapping case
French police have reportedly made more arrests in the abduction of a crypto entrepreneurâs father whose finger was severed as part of the ransom demands. The state-owned media outlet France 24 reported on Wednesday that police have arrested several people suspected of involvement in the kidnapping, citing a source close to the case.There has been a growing number of crypto kidnappings in 2025, several of them in France, leading to crypto entrepreneurs beefing up their security measures, and French Interior Minister Bruno Retailleau calling a meeting to discuss the issue.Suspects allegedly connected to crypto kidnappingIt isnât known how many were arrested on Tuesday, according to France24âs source. Suspects can be held for up to 96 hours without charges.The father of an unnamed crypto entrepreneur was held captive at a property for several days, and the criminals demanded up to 7 million euros ($8 million) in ransom. A May 3 police raid liberated the man, which resulted in five arrests at the time.Meanwhile, a man suspected of being a key figure behind a series of recent crypto-related kidnappings in France was arrested in Morocco on June 4. French authorities also arrested more than 12 people on May 26 linked to high-profile crypto kidnapping cases in Paris.A string of other crypto attacks in 2025The daughter and grandson of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, were targeted on May 13 in a brazen daylight kidnapping attempt.Online streamer Amouranth was the victim of a home invasion in March when several armed assailants held her at gunpoint and demanded the keys to her crypto wallet. Four suspects were later charged.At least 29 in-person incidents targeting crypto holders have been reported so far this year, according to a GitHub list maintained by Casa co-founder Jameson Lopp. If the trend continues, the total could exceed the 35 cases recorded in 2024 and 24 in 2023.Related: âBitcoin Familyâ revamps security after crypto crime waveHowever, there could be more that havenât been reported. A University of Cambridge study in September found these so-called âwrench attacksâ are often underreported due to revictimization fears and involve a diverse group of attackers ranging from organized crime groups to friends and family.Thieves think crypto is untraceableSpeaking at the 2025 Consensus crypto conference on May 15, Chainalysis CEO Jonathan Levin suggested that the recent rise in crypto-related attacks may be partly due to criminal organizations continuing to believe that cryptocurrency transactions are untraceable.Kraken security chief Nick Percoco said there is also a noticeable lack of security awareness among crypto users, saying in a June 5 blog post that the crypto exchangeâs security team had noticed a lack of âbasic situational awarenessâ and security measures among crypto conference attendees.