Crypto Millionaire's Father's Kidnapping Ends in Dramatic Rescue

Authorities continue to investigate a series of kidnappings linked to the cryptocurrency sector in France.

 
French authorities have successfully rescued the father of a cryptocurrency millionaire who was abducted for ransom in a Paris suburb. The man, whose identity has not been disclosed, was kidnapped on Thursday in central Paris in broad daylight, when four masked assailants forcibly placed him into a delivery vehicle, according to police reports.

After being held against his will for several hours, the victim was found in a residence located in Palaiseau, south of Paris, on Saturday. Reports indicate that the man, who is in his 50s, was rescued with one finger missing. French media sources reveal that his captors had demanded a ransom ranging from €5 million to €7 million (£4.2 million to £5.9 million) from his well-off son.

Police were able to locate the suspects through tracking phone signals. Four individuals have been arrested and are currently undergoing questioning. French Interior Minister Bruno Retailleau praised the police for what he called an "exceptional job" in securing the man's release.

This incident marks the third known kidnapping related to the cryptocurrency industry in France this year. Notably, in June, David Balland, co-founder of the cryptocurrency platform Ledger, and his wife were abducted from their home in central France but were rescued shortly thereafter. In that case, the kidnappers had also mutilated Balland, cutting off one of his fingers and demanding a ransom of €10 million (£8.5 million).

In a similar earlier incident, a 56-year-old man was discovered alive in the trunk of a car near Le Mans. His abductors had allegedly attempted to extort money from his son, a cryptocurrency influencer based in Dubai.