French police rescue kidnapped father of crypto millionaire held for ransom

French police conducted a nighttime raid on Saturday to free a 60-year-old man kidnapped in Paris. The father of a crypto millionaire, who was held for ransom in a brutal ordeal that saw one of his fingers severed. The victim, whose identity remains undisclosed, was rescued from a house in Essonne, south of Paris, after being abducted in broad daylight from the city’s 14th arrondissement. Five suspects, all in their 20s, were arrested in connection with the crime, which authorities say is part of a growing wave of kidnappings targeting crypto entrepreneurs and their families in France and beyond.The kidnapping happened on Thursday morning around 10:30 a.m. when four men wearing ski masks ambushed the victim as he walked down a street in southern Paris. Witnesses reported seeing the assailants bundle the man into a delivery van in a swift and brazen operation, according to the police. The victim was held captive for over two days, during which his captors mutilated him by cutting off one of his fingers, raising fears of further harm if their demands were not met.Prosecutors revealed that the kidnappers targeted the victim because of his son’s wealth, amassed through a crypto marketing company based in Malta. The assailants demanded a ransom estimated by Le Parisien to be between €5 million and €7 million ($5.7 million to $7.9 million). However, no payment was made before the police intervened. The victim’s wife informed investigators that both her husband and their son had previously received threats, hinting at the family’s vulnerability due to their high-profile success in the crypto industry.The rescue operation, executed by armed police at 9 p.m. on Saturday, took place at a house about 20 kilometres south of Paris. A source close to the investigation told the media that the raid was prompted by fears of additional mutilations, underscoring the urgency of the situation. Four suspects were apprehended at or near the house, while a fifth was detained while driving a vehicle believed to have been used in the abduction. The suspects, aged between 20 and 27, are being questioned on charges including conspiracy to commit unlawful imprisonment, kidnapping, torture, blackmail, and armed extortion. French Interior Minister Bruno Retailleau praised the operation as “decisive” in a statement posted on X, highlighting the police’s swift action in securing the victim’s release.The rise of criminals targeting crypto millionaires in France The victim was treated for injuries sustained during his captivity, though specific details about his condition have not been disclosed. The loss of his finger, however, has drawn comparisons to other recent kidnappings targeting crypto figures in France. In January 2025, David Balland, co-founder of the billion-dollar crypto firm Ledger, was abducted alongside his partner from their home in Méreau, central France. Like the latest victim, Balland had a finger severed, and his kidnappers demanded a €10 million ransom in cryptocurrency. A police raid by France’s elite National Gendarmerie Intervention Group (GIGN) freed Balland, while his partner was later found tied up in the trunk of a car in Essonne, the same region where Saturday’s rescue occurred. Nine suspects, including a 26-year-old with a prior kidnapping record, are under investigation in that case. This latest incident is the third high-profile kidnapping linked to cryptocurrency wealth in France since December 2024. Last December, the 56-year-old father of a Dubai-based crypto influencer was abducted from his home in eastern France. The attackers tied up his wife and daughter, demanding a ransom from the influencer, who alerted police. The victim was found 24 hours later in Normandy, bound in a car trunk and doused with petrol, showing signs of physical abuse. Similar abductions have also been reported in Spain and Belgium over the past five months, signalling a troubling trend targeting crypto entrepreneurs across Western Europe.French authorities, supported by the police’s cybercrimes unit and anti-gang investigators, are intensifying efforts to combat this wave of violent crimes. The targeting of crypto figures reflects the growing visibility of digital asset wealth, often flaunted online, which may attract criminal attention. As cryptocurrencies continue to reshape global finance, law enforcement faces new challenges in protecting those who profit from the industry.The investigation into Saturday’s kidnapping remains ongoing, with prosecutors determined to uncover the full extent of the criminal network behind the attack.