PARIS, France. A wave of violent kidnappings targeting figures in France’s cryptocurrency sector has shaken the industry, prompting an urgent call for heightened security measures, deregulation, and even the right to bear arms.
The latest incident occurred on Tuesday, when a masked gang attempted to abduct the daughter of Pierre Noizat, CEO of French crypto company Paymium, in broad daylight on a Paris street. The attempted kidnapping, caught on video and widely circulated, has sent shockwaves through France’s crypto circles.
“It’s terrifying,” said Alexandre Aimonino, 23, co-founder of a crypto compliance software company. In response, he has dramatically altered his routine, avoiding public transportation, skipping industry events, and changing his route home daily.
The attack on Noizat’s daughter marks at least the third targeted assault on French crypto executives and their families in recent months. In January, the co-founder of hardware wallet company Ledger and his wife were kidnapped. In May, the father of another crypto firm’s chief was also abducted. All hostages were eventually rescued, though both kidnapped men had a finger severed. A ransom in cryptocurrency was paid in one case, but was swiftly recovered by investigators.
Authorities remain tight-lipped about the perpetrators. Following the Ledger incident, 10 individuals were questioned, and seven arrests were made in connection with an earlier kidnapping in May. Two of those arrested were released after being found unrelated to the case. The Paris prosecutor’s office has not responded to Reuters’ inquiries for further details.
The attacks have raised fears not only for personal safety but also for the long-term viability of operating a crypto business in France.
“This is becoming a pattern,” said crypto executive Eric Larchevêque, a co-founder of Ledger, who attended a meeting with Interior Minister Bruno Retailleau on Friday. The minister assured crypto leaders of the “full mobilisation of public authorities,” promising priority access to emergency police services and home security assessments.
Still, Larchevêque and others argue that more is needed, including legal protections for self-defense and the right to carry firearms. “We are sitting ducks,” he warned.
In a statement, Paymium echoed these sentiments, criticizing stringent European regulations like the “travel rule,” which mandates data collection on crypto transfers. The company suggested that deregulation could “provide founders with more security” by reducing traceable paper trails that may attract criminal attention.
The rise in bitcoin and other cryptocurrencies has created a visible new class of wealthy individuals, often flaunting their success online. Security experts warn that this makes them prime targets.
“Crypto transactions are more likely to escape the level of scrutiny applied to traditional banking systems,” said Michael Lyons, a lawyer at Clifford Chance specializing in anti-money laundering. This perception, he added, increases the appeal of crypto-related crime.
Private security firms have already seen a surge in demand. Thomas Rossi, head of Paris-based Wagram bodyguard agency, reported numerous new inquiries following Tuesday’s attempted kidnapping. Sofiane Aboubeker of ARECIA, another French security firm, noted a similar uptick.
The concern extends beyond France. Ben Davis, a UK-based insurance broker who works with crypto clients, noted that such incidents are becoming global.
“Two years ago, kidnap and ransom wasn’t really a big problem. No one really wanted to talk about it,” Davis said. “Now 100% of our clients are talking about it.” Davis, himself a crypto investor, said he’s taken security precautions—but declined to disclose specifics. “These attacks are again becoming more gruesome, more brazen,” he added.
As the crypto community in France grapples with escalating threats, the question remains: can security and regulation evolve fast enough to protect the very innovators shaping the future of finance?
