French Authorities Arrest Five in Violent Crypto Kidnap Case

French authorities have finally arrested five people linked to a violent kidnapping that happened on New Year’s Eve. The victim, a 56-year-old man and a father of a well-known crypto investor, was abducted from his home in Saint-Genis-Pouilly, close to the French-Swiss border. 

The case has caused people to worry about the safety of crypto executives and their families in Europe and around the world.

French Police Identified Suspects After Months of Investigation

The kidnapping happened on the night of December 31, 2024, when five masked people broke into the family’s home. Armed and aggressive, the attackers beat the man and his wife before placing a call to their intended target, the couple’s son, to demand a ransom.

When the payment could not be secured, the attackers fled the scene with the father, leaving his wife tied up in the home. Days later, police found the man locked in the trunk of a car nearly 450 miles away. He had been assaulted and soaked in petrol.

According to a local news outlet, police have arrested five people in connection with the crime. The suspects are four adults aged 18 to 22 and one 17-year-old. They all have long criminal histories, including theft and drug crimes.

Police have not shared the crypto investor’s name. They only said he was well-known to the public for his success, making him and his family a target.

A Growing Threat in the Crypto World

This case is not an isolated event. France has seen a sharp rise in crimes targeting people in the crypto industry.

According to Binance, France and the United States are currently the two countries with the highest number of crypto-related kidnappings.

Across Southeast Asia and Latin America, similar cases are being reported. One high-profile incident involved a Russian crypto couple kidnapped in Argentina. The suspects in that case are still at large, and international efforts are ongoing to locate them.

Crypto Investors Respond With Security Measures

As these incidents become more frequent, crypto millionaires and executives are hiring bodyguards from private security firms and reducing their public exposure. The Paymium kidnapping case, another recent event in France, shows just how serious this problem is becoming.

French police are still investigating the latest case and are warning crypto enthusiasts to be careful about their safety. As cryptocurrencies become more valuable and popular, they also draw dangerous attention. The arrests in France show progress, but the overall risk remains.