Local sources from France: Le Parisien, RTL.fr.
UK coverage: The Telegraph.
In a string of alarming incidents that have shaken the cryptocurrency community in Paris and across Europe, the daughter of Pierre Noizat, CEO and co-founder of the French cryptocurrency exchange Paymium, has narrowly escaped an abduction attempt by kidnappers. This recent event has sparked an extensive investigation by Paris’s anti-crime unit, shedding light on a disturbing trend where individuals associated with valuable cryptocurrency assets are becoming prime targets for mafia groups seeking ransom payments. In a chilling escalation of crimes targeting cryptocurrency holders, earlier this month, a 60-year-old Frenchman was subjected to abduction and torture for his son’s cryptocurrency, with attackers demanding a ransom of up to €7 million. In another harrowing case, David Balland, co-founder of the crypto firm Ledger, valued at over $1 billion, fell victim to kidnappers who mutilated him while demanding a €10 million ransom in cryptocurrency. These incidents underscore the rising risks faced by those within the cryptocurrency sector. A recent article from Le Parisien details a failed kidnapping attempt that unfolded on the streets of Paris, where relatives of a cryptocurrency company executive narrowly avoided abduction. In the early hours around 8:20 AM on rue Pache in the 11th arrondissement, three masked assailants attempted to force a 34-year-old woman and her 2-year-old child into a Chronopost van. The quick intervention of the child’s father, who sustained injuries from the attackers, thwarted the kidnapping. The attackers, one of whom dropped a handgun during the struggle, fled the scene, leaving their vehicle behind in the same district. The victims were identified as the family of a prominent figure in the cryptocurrency exchange domain. In light of these events, RTL.fr has published an informative piece titled ‘Tentative d’enlèvement à Paris : qu’est-ce qu’une cryptomonnaie ?’, aimed at demystifying cryptocurrency for its readers. Romain Chilly, a legal expert specializing in cryptocurrency, explains to RTL that cryptocurrency represents a class of assets like precious metals or financial securities, relying on a computer protocol infrastructure to function as digital cash. Unlike traditional banking methods, cryptocurrencies are stored in digital wallets and are not held physically by banks or intermediaries, making them a novel yet vulnerable asset class. As the digital currency landscape continues to evolve, with some merchants starting to accept cryptocurrencies through intermediaries, the need for heightened security measures and public awareness about the potential risks becomes increasingly evident. These recent kidnapping attempts not only highlight the vulnerabilities faced by individuals in the cryptocurrency sector but also pose new challenges for law enforcement agencies across Europe as they grapple with the complexities of digital currency-related crimes.
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