Victim assaulted, doused in petrol and found in car boot as French police respond to rising threats against digital asset entrepreneurs
French authorities arrest five suspects in the abduction of a crypto influencer’s father, reflecting growing concerns over targeted attacks on cryptocurrency entrepreneurs and their families.
French prosecutors have confirmed the arrest of five individuals in connection with the violent kidnapping of the father of a Dubai-based cryptocurrency influencer, following a surge in abductions targeting figures linked to the digital currency industry.
The attack, which took place on December 31, 2024, involved a group of five armed assailants storming a residence in Saint-Genis-Pouilly, a town near the Swiss border in eastern France. The victims—a man and his wife—were assaulted in their home before the attackers issued a ransom demand to their son, a high-profile influencer and crypto entrepreneur whose identity remains undisclosed.
According to prosecutor Karine Malara, the situation escalated when the ransom was not delivered. The father, aged 56, was abducted and transported nearly 700 kilometres away, where he was eventually discovered in the boot of a car in Sarthe, in western France.
“He had been assaulted, doused with petrol and transported in the boot of a car,” Malara stated in a press release. His wife, meanwhile, was left tied up inside the couple’s home.
Following an intensive investigation, authorities arrested four adults aged between 18 and 22 and one 17-year-old minor on Tuesday, with formal charges filed on Friday. The charges include kidnapping, armed robbery, and aggravated assault.
Three of the adults are known to police and have extensive criminal histories that include convictions for violent crime, theft, drug trafficking, currency violations, and illegal weapons possession. The minor also has a prior record involving aggravated theft.
This incident is part of a wider pattern of violent crimes aimed at individuals associated with the cryptocurrency sector. In May, French authorities charged 25 suspects, including six minors, in relation to a series of kidnappings and attempted abductions targeting crypto businesspeople and their relatives.
Among the most prominent cases under investigation is a failed abduction attempt involving the daughter and grandson of Pierre Noizat, the CEO of Paris-based crypto firm Paymium. That attempt occurred in broad daylight in the capital, raising alarms over the growing audacity of the perpetrators.
More recently, in June, five more suspects were detained in northern France for allegedly plotting the kidnapping of a young man and his mother, also linked to digital asset holdings.
While authorities have not revealed the name of the Dubai-based influencer whose family was targeted in December, they noted that the victim’s “success was well known to the general public.”
As France contends with the rapid rise of cryptocurrency wealth and its accompanying risks, law enforcement continues to face pressure to safeguard individuals operating within this high-profile sector. Investigations into these incidents remain ongoing.
