In a dramatic turn of events, the father of a prominent yet unnamed cryptocurrency entrepreneur was rescued by police in Paris following a harrowing ransom ordeal. On May 3, a calculated raid by French law enforcement led to the liberation of the captive, with five individuals arrested in connection to the kidnapping. The captors had reportedly demanded a staggering ransom between 5 million and 7 million euros, equivalent to nearly $7.9 million, according to French media outlets Le Monde and Le Parisien.
A Growing Menace in the Crypto World
This unsettling episode is not an isolated incident. The cryptocurrency sphere, often perceived as a haven for affluent individuals, has become increasingly attractive to criminals seeking hefty ransoms. Just this January, Ledger co-founder David Balland faced a similar ordeal in France, only to be freed by vigilant law enforcement. These incidents underscore a troubling trend: the targeting of crypto figures and their families by opportunistic criminals. As explored in our recent coverage of U.S. Congress Bracing for Intense Debate Over Crypto Legislation, the regulatory landscape is also evolving to address these emerging threats.
The entrepreneur and his father, both co-owners of a Malta-based crypto marketing firm, are the latest victims in this grim saga. While details about their identities are scant—likely shielded for security reasons—the parallels to past incidents are unmistakable, raising the alarm within the cryptocurrency community.
The Rising Wave of Crypto-Related Abductions
The dark allure of digital wealth has made crypto enthusiasts easy targets for kidnappers worldwide. In November 2024, Dean Skurka, CEO of WonderFi, was abducted in Toronto and coerced into paying a $1 million ransom in cryptocurrency. A similar case unfolded in Chicago in February 2025, when a family and their nanny were taken hostage, only to be released after surrendering $15 million in digital assets.
And it doesn’t stop there. High-profile figures like online streamer Amouranth have also fallen prey to such schemes. In March this year, armed intruders broke into her Texas home, seeking access to her crypto holdings. Fortunately, swift action by law enforcement led to the arrest of four suspects involved in the invasion.
Experts warn that the anonymity and perceived security of cryptocurrencies may inadvertently embolden these criminal acts. “The decentralized nature of crypto transactions, while revolutionary, can also make it challenging to trace and recover stolen assets,” explains cybersecurity analyst Marie Dupont. “This creates a dangerous precedent where individuals are seen as soft targets.” For a deeper dive into the regulatory implications, see our coverage of the SEC’s latest guidance on staking.
A Call for Enhanced Security Measures
The frequency of these abductions is a clarion call for the crypto industry to bolster security measures. Enhanced privacy protocols, increased awareness, and collaboration with law enforcement agencies are critical components in safeguarding against such threats. Some industry leaders are even advocating for the development of emergency response protocols tailored specifically for crypto-related incidents.
Yet, the broader implications remain disconcerting. As cryptocurrencies continue to evolve and integrate into mainstream finance, the question arises: How can we protect individuals without stifling the growth and innovation that crypto promises?
This latest Parisian rescue operation adds another chapter to the unfolding narrative of crypto-related crime. While the successful liberation of the kidnapped father is a relief, the broader trend of targeting crypto wealth raises pressing concerns about personal safety in the digital age.
As the world watches—and waits—the crypto community must grapple with these challenges to ensure that the promise of digital currencies isn’t overshadowed by the peril that lurks in the shadows.
Source
This article is based on: Kidnapped dad of crypto businessman freed from ransom attempt: Report
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
