French Crypto Executives Enhance Security Amid Recent Violent Kidnappings
Paris, May 27, 2025 – Recently, French cryptocurrency leaders are ramping up their personal security measures following a disturbing trend of violent kidnappings targeting individuals connected to the crypto industry. The incidents, which have captured national attention, underscore the intersection of the growing popularity of cryptocurrencies and the escalation of organized crime.
Disturbing Trend of Kidnappings
In the past six months, a series of violent attacks have shocked France, all involving high-profile figures from the cryptocurrency sector or their families. Victims have faced harrowing experiences, such as being beaten, doused in gasoline, and subjected to gruesome threats. Notably, authorities reported attacks where victims’ fingers were severed to coerce families into paying ransom, included in incidents that left communities rattled and fearful.
Among the most notable cases was the abduction of David Balland, co-founder of Ledger, a firm specializing in cryptocurrency storage devices, who, along with his wife, was taken from their home earlier this year. The couple endured a terrifying two-day ordeal, during which Balland’s finger was cut off before police successfully intervened.
In another shocking case, the father of a cryptocurrency entrepreneur was forcibly taken off a Paris street and held for ransom. During this incident, kidnappers sent gruesome evidence of their threat, intensifying calls for increased security measures.
Calls for Enhanced Regulations
With the crypto landscape becoming a lucrative target for criminals, industry leaders are expressing concern that recent European regulations surrounding cryptocurrencies may inadvertently facilitate these kidnappings. The new rules require crypto entrepreneurs to publicly register their addresses and disclose identities involved in transactions, raising concerns about personal security.
During a meeting this month with crypto executives, Interior Minister Bruno Retailleau announced several new safety measures aimed at protecting individuals in the sector. These include enhanced access to emergency services, security training with elite police units, and audits of personal safety at executives’ residences.
Owen Simonin, a prominent figure in the French crypto community, emphasized the pervasive fear gripping the industry, noting that many individuals are reconsidering their daily security habits since being targeted in violent instances. He recounted his own experience of being threatened at gunpoint, which led him to significantly enhance his home security and take precautions to avoid becoming a target again.
Rising Security Costs
As a result of the escalating threat, prominent executives have found themselves investing heavily in personal security. Éric Larchevêque, a founder of Ledger, revealed that providing security for crypto executives could cost between €50,000 and €100,000 per month. This financial burden reflects the extent of the fear permeating the industry and the urgency of the situation at hand.
An Evolving Criminal Landscape
The uptick in kidnappings has sparked broader concerns regarding organized crime in France, particularly related to drug trafficking. Experts suggest this marks a shift towards a less hierarchical structure in criminal organizations, with an emerging trend of small, contract-based criminal groups launching attacks for immediate rewards.
As authorities work to combat this surge in violence, they acknowledge that the demands of modern-day ransomers differ from those of the past. Retailleau described the shift from requiring physical cash for ransom to a more "dematerialized" approach, making cryptocurrency targets easier to pursue for criminals who leverage the speed and anonymity of digital currencies.
Looking Ahead
In light of these events, discussions are underway about adjusting cryptocurrency regulations to better protect the personal information of individuals in the industry. Entrepreneurs call for a reconsideration of the transparency requirements that currently make them vulnerable to attacks. With their safety at stake, many in the crypto community are grappling with the balance between regulatory compliance and personal security.
As France’s crypto industry continues to grow, the responses to these violent incidents will likely shape the future of cryptocurrency regulations and the overall safety of its key players. The need for both innovative security solutions and protective legislative measures has never been more critical in ensuring the safety of individuals connected to this rapidly evolving sector.
Share this article:
