France Steps Up Security for Crypto Execs Amid Rising Kidnapping Threats
French officials are boosting protection for cryptocurrency leaders and their families after a recent wave of violent attacks and kidnappings targeting the industry. Interior Minister Bruno Retailleau announced new security measures on May 16, aiming to stop these dangerous crimes before they happen.
The move follows a string of scary incidents, including a recent attempt to kidnap the daughter of Pierre Noizat, CEO of crypto exchange Paymium, right in central Paris. This attack came just weeks after David Balland, co-founder of Ledger, was kidnapped along with his wife. Balland was rescued by police but suffered severe injuries during the ordeal.
Authorities have arrested 10 suspects linked to these ransom kidnappings, which demand payment in cryptocurrency. Some victims have paid to secure the safe return of their loved ones.
Éric Larchevêque, another Ledger co-founder, praised the government’s response, saying it shows officials now grasp how serious the problem is. The global crypto world has seen around 50 attacks on executives in the past year, with France alone accounting for about 14 of these making it the hotspot for crypto-related kidnappings.
With these new protections, France hopes to better shield its crypto industry leaders from these violent crimes and ensure their safety moving forward.