French authorities have charged 25 people in connection with a series of kidnappings and attempted kidnappings related to the country's cryptocurrency industry, including 6 minors.
According to Le Monde, the Paris public prosecutor's office announced on May 31 that the suspects, aged between 16 and 23, face multiple conspiracy charges targeting well-known cryptocurrency figures and their families.
The report states that 18 suspects are currently in pre-trial detention, 3 have requested a hearing delay, and 4 are under judicial supervision.
The investigation focuses on an attempted kidnapping that occurred on May 13 in the 11th arrondissement of Paris. The targets were the daughter and grandson of Pierre Noizat, CEO of the French cryptocurrency exchange Paymium.
In the heart of Paris, a man was assaulted by individuals wearing masks and dressed entirely in black. They were attempting to abduct him. A man appeared, extinguisher in hand, to scare them off. →https://t.co/P0qV6PR40v pic.twitter.com/9f4r2Gi7ho
Authorities stated that this was not the first attempt—there had been a similar failed conspiracy the day before. Days later, police also thwarted another operation near Nantes.
Videos of the May 13 incident circulated widely on social media, showing four masked attackers assaulting Noizat's daughter, her husband, and their child. The victims sustained minor injuries and were treated in the hospital.
Reports indicate that the suspects come from various backgrounds, including those born in the Paris region, Châteauroux, Senegal, Angola, and Russia.
Defense lawyers described many of them as a "young group lured by money and caught in an uncontrollable situation."
The Paris case is part of a surge in cryptocurrency-related kidnappings across France this year. High-profile incidents include the January kidnapping of Ledger co-founder David Balland and his partner, as well as the May 1 kidnapping of a cryptocurrency millionaire's father—investigators say this incident is linked to the current series of attacks.
So far, police have arrested low-level operatives and logistical coordinators, but the masterminds behind these conspiracies have yet to be identified.
This growing threat has drawn national attention. French Interior Minister Bruno Retailleau met with cryptocurrency industry professionals in mid-May to discuss protective measures. The department subsequently announced enhanced cooperation between law enforcement and cryptocurrency companies, including home safety checks conducted by police and gendarmes.
Reports indicate that insurance companies are racing to develop new protective measures against the growing physical threat of cryptocurrency kidnappings.
According to the latest reports from NBC News, at least three companies focused on cryptocurrency insurance and security are preparing customized kidnapping and ransom (K&R) policies for digital asset investors.
Similarly, executives and investors in the cryptocurrency industry are increasingly seeking personal security services. On May 18, private company Infinite Risks International reported a rise in requests for bodyguards and protection contracts from high-profile figures in the cryptocurrency sector.
Related: Bitcoin (BTC) miners sued in U.S. court over cryptographic patents
Original: “French Authorities Charge 25 Over Crypto Kidnapping Spree in Paris”
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