Kidnap of Crypto-Millionaire's Father Ends in Rescue

In a dramatic turn of events, the father of a wealthy French crypto investor was rescued from kidnappers in a Paris suburb, marking a grim chapter in the ongoing pattern of cryptocurrency-related abductions in France.

French authorities announced the safe recovery of the father of a cryptocurrency millionaire who had been abducted in central Paris on Thursday by masked men. The victim, whose identity remains confidential, was seized during daylight hours and subsequently held for ransom in an undisclosed location. Reports indicate that upon his rescue on Saturday in Palaiseau, he was found with a severed finger, highlighting the brutal nature of the crime.

The kidnapping involved four assailants, who are now in police custody. According to French media sources, the family was coerced into considering a ransom demand estimated between 5 and 7 million euros (approximately £4.2 to £5.9 million). Police intervention, guided by phone signal tracking, led them to the hideout where the victim was detained.

French Interior Minister Bruno Retailleau praised the investigative effort, labeling it an "exceptional job" in securing the man's freedom. The event is particularly alarming as it marks the third kidnapping tied to France’s burgeoning cryptocurrency sector in 2023 alone.

This latest incident recalls the abduction of David Balland, co-founder of the cryptocurrency company Ledger, who was kidnapped alongside his wife in June. This aggressive trend continues, as ransom demands in the realm of cryptocurrency crime are growing, further complicating the safety of those involved in the industry. In another incident this year, a 56-year-old man was discovered alive in the trunk of a vehicle in January, having been kidnapped by criminals seeking to extort from his son, a cryptocurrency influencer operating from Dubai.

This cluster of kidnappings raises urgent discussions regarding crime and security in the cryptocurrency landscape in France, as authorities work to ensure the safety of individuals within this lucrative yet risky sector of the economy.