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Following another crypto-related kidnapping in France, a victim has been freed by French authorities after a late-night raid on Saturday (May 3), according to local media reports. This latest case comes after Ledger Co-founder David Balland and his wife were also kidnapped and extorted in January, rocking the France crypto world.
French prosecutors stated that the kidnappers demanded a crypto ransom of between €5-7 million for the man. The kidnapped individual is reportedly the father of a man who made his fortune in cryptocurrencies.
The father of a crypto millionaire was kidnapped in broad daylight in Paris on Thursday. Similar to the David Balland attack, a ransom of 5M EUR was demanded and one of the victim's fingers was amputated.https://t.co/tjm8LgdQ8h
— Jameson Lopp (@lopp) May 4, 2025
Latest Crypto-Kidnapping Similar To That Of Ledger Co-Founder David Balland, Another France Crypto Crime
Official reports state that the criminals severed one of the kidnapped man’s fingers. It is eerily similar to another recent, high-profile case, which saw Ledger co-founder David Balland, another Frenchman, kidnapped and mutilated similarly.
This latest kidnapping saw four men wearing ski-masks reportedly usher the man into a delivery van before abducting him. The attack allegedly took place in broad daylight in Paris.
Prosecutors claim that at 10:30am on Thursday, May 1, the abduction took place as the victim walked down a street in Paris’s 14th arrondissement. French police have arrested five individuals, with the fifth being identified as the driver. All five arrested are men, all aged in their 20’s.
The victim’s wife said her husband and son, who both own a crypto marketing firm based in Malta, had received crypto-related threats in the past, according to a police source. On this occasion, no ransom was paid to the kidnappers before the man was rescued.
Currently, the victim has yet to be named, with French authorities seemingly wishing to keep the individual and his family out of the public eye following such a harrowing ordeal.
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Bull Run Indicator? Violent Crypto-Crime On The Rise
This is David Balland.
He co-founded Ledger, one of the biggest companies in crypto
This week, he was kidnapped and tortured
Here’s the full story of what happened: (and why it’s a wake-up call for everyone in crypto) pic.twitter.com/0NpLlN8aZm
— Pix🔎 (@PixOnChain) January 24, 2025
This year alone has seen the rise of crypto-related violent crime. Over in Canada, earlier this year, a man was reportedly forced into hiding following a similar kidnapping and torture attempt to the French crypto cases.
The Canadian case showed that the victim got himself into trouble by boasting online about a lifestyle he wasn’t actually living. Police reports revealed that the attackers, based on the victim’s social media activity, thought the man had more than $2.5 million worth of crypto. However, the man confessed that his net worth was closer to $100,000.
Back in France, January 2025 saw Ledger co-founder David Balland abducted alongside his wife from his Paris home. They were reportedly taken by car to two separate addresses where they were held captive.
French prosecutors said that during the kidnapping, the criminals contacted another Ledger co-founder and demanded a ransom in cryptocurrency, part of which was paid.
Balland’s rescue operation reportedly involved over 90 officers from the GIGN, one of France’s elite tactical police units. The operation led to Balland’s freeing and the arrest of two people.
The Ledger co-founder was taken to the hospital and treated for injuries to one of his hands, which was alleged to have been a severed finger. Balland’s wife was found tied up but uninjured in a car the following day.
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A French man was abducted with his wife in Paris before his kidnappers demanded 5-7m EUR for his release
- Kidnappers mutilated the victim’s hand, with a finger allegedly being severed during the ransom demand
- French police freed the man and his wife during a wide-scale operation that has led to the arrest of 5 individuals
- This latest case is very similar to that of David Balland, another Frenchman who had a finger severed during a crypto-related kidnapping
- Best Wallet (BEST) is fast becoming crypto investors’ favorite Web3 wallet due to its cutting-edge security technology and multi-chain offerings
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