France Arrests Five in Crypto Kidnapping Case
French authorities have arrested five suspects in connection with the brutal New Year’s Eve kidnapping of a man whose son is a prominent Dubai-based cryptocurrency entrepreneur and social media influencer, prosecutors announced on Saturday, June 21.
The abduction took place on December 31, 2024, in the town of Saint-Genis-Pouilly, near the French-Swiss border. According to investigators, five armed attackers stormed the home of the 56-year-old victim and his wife, physically assaulting the couple and demanding a ransom from their son.
The son, who was not present at the time, is said to be a well-known figure in the crypto world with a large public following.
When their ransom demands were unmet, the assailants abducted the father. He was discovered hours later—nearly 700 kilometers away—in the trunk of a car in the Sarthe region of western France.
Authorities said the victim had been beaten and soaked in petrol, suggesting a threat of being burned alive. Meanwhile, his wife was found bound at their residence, traumatized but alive.
Following a coordinated investigation, five individuals—four adults aged 18 to 22 and a 17-year-old minor—were arrested on Tuesday, June 17. They were officially charged three days later with serious crimes, including kidnapping, aggravated assault, and armed robbery.
According to prosecutor Karine Malara, several of the suspects have lengthy criminal records, involving previous convictions for violent crimes, drug trafficking, weapons offences, and currency-related crimes. The underage suspect had also been previously convicted of aggravated theft.
While the identity of the influencer remains confidential due to security concerns, authorities described him as a “high-profile individual” within the cryptocurrency sector, whose online presence and financial success may have made his family a target.
This case is part of a disturbing trend of violent attacks and extortion attempts directed at cryptocurrency figures in France. In May, 25 people—including six minors—were charged for a series of similar crimes, including the attempted kidnapping of the daughter and grandson of Pierre Noizat, CEO of French crypto firm Paymium.
More recently, in June, authorities thwarted another plot involving five suspects who were allegedly planning to kidnap a crypto investor and his mother.
Police believe the gang intended to mutilate the woman by cutting off her finger in order to gain access to crypto wallets protected by biometric security.
Prosecutor Malara noted that, while investigators have not yet established any direct link between these incidents, the recurring nature of the crimes is cause for growing concern.
Law enforcement agencies continue to ramp up surveillance and investigative efforts to counter what appears to be a pattern of organized extortion rings targeting the crypto community.
The case remains under active investigation.
France Arrests Five in Crypto Kidnapping Case