Criminals Target Families of Crypto Entrepreneurs

Executives of cryptocurrency firms are increasingly concerned about the rising number of attacks aimed at kidnapping and extorting digital assets, prompting them to hire bodyguards. This is reported by WSJ.

On May 13, in the Paris district of Le Marais, the daughter of Paymium crypto exchange founder Pierre Noizat was attacked by three masked individuals. The assailants, armed with gas canisters and a toy gun, attempted to force the woman and her child into a van.

The victim’s husband engaged in a struggle, receiving a blow to the head, while a neighbor managed to take the child away. The attackers fled as local residents began to gather at the scene.

This incident is part of a global wave of wrench attacks, where criminals use physical violence instead of digital tools. The aim is to extort cryptocurrency.

In recent months alone, five such cases have been recorded in France. In Estonia, an Australian crypto billionaire narrowly escaped kidnapping, and in Houston, USA, an influencer’s home was attacked at night, with demands for her laptop.

“People are moving to the ‘hide gold under the mattress’ level, but that doesn’t protect against real threats,” said Casa co-founder Jameson Lopp.

Crime in the industry has intensified amid rising Bitcoin prices and data leaks. In 2020, hackers breached Ledger’s customer database, exposing the addresses of 272,000 users.

Later, a similar incident occurred with Kroll, giving criminals access to Genesis clients’ personal data. Information from these leaks is now circulating on the dark web.

“The younger generation is adept at doxxing — they cross-reference data from different sources to find a victim,” explained MetaMask researcher Taylor Monahan.

France Prioritizes Security

On May 14, 2025, French Interior Minister Bruno Retailleau held a meeting with representatives of the crypto industry, proposing new security measures. According to him, attack organizers often recruit perpetrators through Telegram, remaining in the shadows.

One of the most high-profile cases was the kidnapping of Ledger co-founder David Balland in January. The criminals cut off his finger and demanded €10 million in USDT.

The crypto community is responding to threats: users are hiding profiles on social media and removing addresses from public registries.

Noizat urged authorities to reconsider client data disclosure requirements to reduce risks in the event of leaks.

Halte à la mexicanisation de la France.

Depuis plusieurs mois, les affaires sordides d’enlèvements et de tentatives d’enlèvement se multiplient. En plein jour. En plein Paris. Sous les yeux de tous.

Ce matin encore, une mère de famille de 34 ans, accompagnée de son enfant de…

— Eric Larchevêque (@EricLarch) May 13, 2025

“How many more entrepreneurs will consider leaving a country that does not protect its citizens?” wrote former Ledger head Eric Larchevêque, describing the situation as the “Mexicanization” of France.

On May 15, Coinbase reported the theft of user data due to the bribery of overseas support staff. The platform’s team refused to pay a $20 million ransom and took countermeasures.