A spate of violent kidnappings targeting cryptocurrency entrepreneurs and their families has raised alarms in France, prompting concerns about the country’s descent into organized crime akin to Mexico’s. The term “Mexicanisation” has surfaced in political discourse, reflecting fears of escalating criminal activities and systemic corruption.
In a recent incident, masked assailants attempted to abduct the daughter of Pierre Noizat, CEO of Bitcoin exchange Paymium, in central Paris. The attackers were thwarted by the victim’s husband and a shopkeeper who intervened with a fire extinguisher. This follows a May kidnapping where a crypto entrepreneur’s father was mutilated before being rescued by police. Earlier in January, David Balland, co-founder of crypto firm Ledger, and his partner were kidnapped and tortured for ransom.
Interior Minister Bruno Retailleau has pledged to enhance security measures for crypto professionals, including offering protection and prioritizing emergency services. He emphasized his commitment to addressing these crimes, stating, “my determination to put a stop to these unbearable attacks.” Retailleau’s actions come as he positions himself for potential leadership in the 2027 presidential elections.
The surge in crypto-related crimes has led to increased security concerns within the industry. Eric Larchevêque, co-founder of Ledger, noted that 14 out of 50 global crypto-related attacks in the past year occurred in France, highlighting a “real problem” that threatens both entrepreneurs and the nation’s image.
