French prosecutors have formally charged 25 people, including six minors, over a series of kidnapping and attempted abduction cases targeting individuals linked to the cryptocurrency industry, the Paris prosecutor’s office confirmed on May 31.

The accused, aged between 16 and 23, are allegedly connected to multiple plots aimed at prominent crypto entrepreneurs and their families. Eighteen suspects remain in pre-trial detention, four are under judicial supervision, and three have requested a delayed court appearance, according to Le Monde.

Authorities say the investigation focuses on a violent attempted kidnapping on May 13 in Paris’ 11th arrondissement. The intended victims were the daughter and grandson of Pierre Noizat, CEO of the French crypto exchange Paymium. The incident, which was captured on video and widely shared on social media, showed four masked assailants attacking Noizat’s family. The victims sustained minor injuries and were treated in hospital.

Officials noted that a similar failed attempt had occurred the previous day, and another operation near Nantes was foiled shortly thereafter. Police believe the group behind these crimes is responsible for a wider wave of crypto-related kidnappings across France in 2024.

The suspects come from diverse backgrounds, with some born in Paris, Châtellerault, and others originating from Senegal, Angola, and Russia. Defense lawyers described many of the individuals as vulnerable youths manipulated by promises of fast money and unaware of the full consequences.

While authorities have detained several lower-level operatives and logistics coordinators, those who orchestrated the attacks remain unidentified.

The growing trend of targeting crypto figures has raised national concern. Interior Minister Bruno Retailleau recently met with crypto industry leaders to strengthen cooperation. Measures now include coordinated efforts between law enforcement and crypto businesses, along with police-led home security assessments.

In response, insurers are developing specialized kidnap and ransom (K&R) policies tailored to digital asset holders. Private security firms also report increased demand from crypto executives for bodyguards and protective services, reflecting the escalating physical risks tied to cryptocurrency wealth.

The post France Charges 25 in Kidnap Attempts Targeting Crypto Figures appeared first on CryptoShrypto.

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Filed under: Bitcoin - @ June 2, 2025 5:17 pm