France Boosts Security for Crypto Entrepreneurs Amid Kidnapping Wave

In Brief:

The French government is rolling out emergency security measures for crypto professionals and their families.

This follows a surge in kidnapping attempts, including the recent attack on the daughter of Paymium’s co-founder.

Following a disturbing rise in kidnappings targeting crypto entrepreneurs, the French government is implementing enhanced security measures to protect individuals in the digital asset industry. According to Politico and PANews, the Ministry of the Interior announced steps including priority access to emergency services, door-to-door law enforcement visits, and personalized safety briefings.

Interior Minister Bruno Retailleau confirmed the initiative, stating the country will take “immediate and short-term concrete measures to prevent, dissuade, and hinder” attacks on members of the cryptocurrency space. French police will also undergo specialized anti-money laundering training focused on crypto assets.

At least three kidnapping incidents involving crypto figures have occurred in France in 2024 alone. The most recent happened on May 13, when four masked attackers attempted to abduct the daughter and grandson of the Paymium CEO in Paris. The victims escaped with minor injuries after bystanders intervened.

Earlier this year, Ledger co-founder David Balland was kidnapped and tortured in a high-profile case that further underscored the risks associated with public crypto wealth. Authorities have since announced plans for a national security summit focused on the protection of the crypto industry.

The new measures reflect growing concern that France’s rising crypto profile has made its entrepreneurs and their families vulnerable targets for physical attacks and extortion.

‍