Crypto Millionaires Targeted in Wave of Kidnappings Across Europe

In the past half-year, there have been at least four instances of kidnappings or attempted kidnappings targeting cryptocurrency millionaires in France, Spain, and Belgium. These violent crimes, which include ransom demands and brutal tactics, are being investigated by French police, raising concerns about the safety of crypto entrepreneurs in Europe.

A rise in violent crimes related to cryptocurrency has been observed in Europe over the last six months, with several incidents reported in France, Spain, and Belgium. French authorities are looking into these cases, which often involve extreme violence like torture and mutilation. One prominent case in Paris saw the abduction of a crypto entrepreneur’s father in broad daylight, with a ransom demand of €5-7 million and the victim’s finger being severed. The victim was rescued by French police, leading to the arrest of five suspects.

Other incidents include the torture of a Ledger co-founder in January 2025 to extort cryptocurrency holdings and the abduction of another crypto influencer’s father on May 1, 2025, with mutilation used to pressure the victim’s family. In March, French police arrested ten individuals planning a similar kidnapping.

These cases demonstrate a trend of organized crime targeting crypto entrepreneurs, exploiting the decentralized and often anonymous nature of cryptocurrency to demand untraceable ransoms, typically in Bitcoin or stablecoins like USDT. The high liquidity of crypto assets makes crypto entrepreneurs attractive targets, as criminals can swiftly move funds through mixing services or unregulated exchanges.

The targeting of crypto millionaires highlights the risks faced by individuals in the cryptocurrency industry, particularly high-profile figures such as influencers or founders of crypto companies, whose wealth is often made public through social media or blockchain transparency. Criminals can track wallet addresses associated with significant holdings through the blockchain’s public ledger, making crypto entrepreneurs prime targets. Not only millionaires but also their families, including parents and spouses, are increasingly vulnerable.

French police are ramping up security measures for known crypto figures and collaborating with Europol to track transnational criminal networks. However, challenges persist, including the difficulty of tracing cryptocurrency transactions once funds are transferred to non-compliant exchanges.

Experts recommend that crypto entrepreneurs enhance their security practices by using hardware wallets, employing private security, and minimizing the public disclosure of their wealth. The spate of kidnappings has sparked discussions about the broader implications for the crypto industry, with regulatory bodies facing pressure to tighten oversight of crypto transactions to combat illicit activities, despite the risk of stifling innovation.