TLDR

French police arrested more suspects Tuesday in connection with cryptocurrency-related kidnappings targeting wealthy crypto entrepreneurs and their families
The arrests relate to the May 1 abduction of a crypto entrepreneur’s father in Paris, where kidnappers cut off his finger and demanded millions in ransom
Badiss Mohamed Amide Bajjou, 24, was arrested in Morocco as the suspected mastermind behind multiple crypto kidnapping operations
French prosecutors have charged 25 people aged 16-23 in connection with attempted kidnappings, with suspects recruited via social media
The kidnapping spree began in January with the abduction of Ledger co-founder David Balland and his partner

French authorities arrested additional suspects Tuesday as part of an ongoing investigation into violent kidnappings targeting cryptocurrency executives and their families. The arrests mark the latest development in a case that has raised security concerns across France’s crypto community.

The suspects were detained under France’s anti-organized crime provisions, allowing up to 96 hours of detention without charges. Officials have not disclosed the exact number of people arrested or their locations.

The arrests connect to the May 1 kidnapping of a wealthy crypto entrepreneur’s father in Paris. Four masked men posing as delivery workers grabbed the victim in broad daylight in the city’s 14th arrondissement. Witnesses watched as the attackers forced him into a van.

The kidnappers demanded several million euros in ransom and cut off one of the victim’s fingers. A police tactical unit rescued him days later from a house in a Paris suburb where he was being held.

Suspected Mastermind Caught in Morocco

The investigation received a major boost when Moroccan police arrested Badiss Mohamed Amide Bajjou, 24, in Tangier. French authorities consider him the mastermind behind multiple crypto kidnapping operations.

Bajjou holds dual French-Moroccan citizenship and was captured following a French-issued Interpol red notice. Moroccan authorities seized weapons, electronic devices, and suspected illegal funds during his arrest. France has requested his extradition.

Investigators believe Bajjou coordinated a broader criminal network that recruited young operatives through social media and messaging platforms. The network targeted individuals with large cryptocurrency holdings for kidnapping and extortion.

Wave of Crypto-Related Abductions

The kidnapping spree began in January with the abduction of David Balland, co-founder of crypto wallet provider Ledger. Balland’s kidnappers also cut off his finger and demanded a hefty ransom.

Police freed Balland the next day and found his girlfriend tied up in a car trunk outside Paris. The Ledger company was valued at more than $1 billion at the time of the attack.

By May 31, French prosecutors had charged 25 people in connection with attempted kidnappings. The suspects range in age from 16 to 23 years old.

Most of the accused came from the Paris region, while others originated from Senegal, Angola, and Russia. Authorities say the network recruited them with promises of financial gains to serve as foot soldiers in high-risk operations.

Failed Kidnapping Attempt

The criminal network also attempted to kidnap the daughter and grandson of Paymium CEO Pierre Noizat on May 13. The incident occurred in central Paris and was captured on video by bystanders.

Though the attackers fled without their targets, authorities later connected the attempt to the same criminal organization. The failed operation provided additional evidence linking multiple cases to the coordinated network.

Interior Minister Bruno Retailleau held an emergency meeting with cryptocurrency leaders last month. The ministry announced plans to strengthen security measures for crypto industry figures.

French authorities continue investigating what they describe as a coordinated extortion network. The case involves at least nine suspects under investigation for the Balland kidnapping alone.

The post France Cracks Down on Crypto Kidnapping Network with Fresh Arrests appeared first on CoinCentral.

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Filed under: News - @ June 12, 2025 8:26 am