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France was rocked this week by yet another crime targeting people who hold cryptocurrencies. A 23‑year‑old man was seized in a suburb of Paris and forced to reveal where he kept his digital keys. This case highlights how real‑world dangers can follow the money trails in the blockchain world.
Kidnapping In Paris Suburb
According to Le Parisien, the young man was taken in Maisons‑Alfort on Tuesday. He was held for several hours before being released in nearby Créteil. Authorities say the attackers used violence to make him talk. They didn’t just want his cash.
Demand For Cash And Crypto
The kidnappers asked for 5,000 euros in cash, roughly $5,760. They also demanded the key to his Ledger hardware wallet. That device can hold thousands or even millions in crypto, depending on what’s inside. Under threat, the victim handed over both the money and the digital key.
A Wider Trend Of Attacks
Based on reports, this is part of a growing pattern. In May, three men tried to grab the daughter and grandson of Pierre Noizat, CEO of crypto exchange Paymium.
Around the world, similar “wrench attacks” have made headlines. New York prosecutors charged two people for kidnapping a tourist to get his crypto.
India, Hong Kong, the Philippines and Spain have seen cases, too. Jameson Lopp, Bitcoin adopter and co‑founder of Casa, says he’s tracked 232 physical attacks on crypto users over the past 11 years. Even Hal Finney, who got the first Bitcoin transaction, was “swatted” in 2014.
Calls For Better Security
Experts warn that hardware wallets aren’t foolproof against violence. If criminals force someone to plug in their device, the cold storage protection vanishes.
Some wallets let you set up a decoy account. That could limit losses if someone is threatened. Splitting assets across multiple wallets, or using multi‑signature setups, also helps.
Despite growing awareness, arrests in these cases remain rare. As of Thursday, French police hadn’t named any suspects. Victims often stay silent, fearing publicity or more threats.
But every story puts more pressure on law enforcement to act. Crypto companies, too, face calls to build features that protect users under duress.
France’s latest incident is a stark reminder: real danger lurks where money flows freely. Crypto can be digital, but those who use it live in the physical world. Staying safe means guarding both private keys and personal well‑being.
Featured image from Unsplash, chart from TradingView
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