Crypto In France Is Starting To Feel Like An Episode Of Money Heist

Forbes

25-06-2025

France is experiencing more crypto kidnapping that any other country in the world
As crypto leaders descend on Cannes next week for ETHCC—the Ethereum Community Conference—there's a buzz in the air. Ideas are flowing, wallets are syncing, and the promise of decentralized finance feels more real than ever. But there's another undercurrent in France that attendees would be wise to acknowledge: the sharp rise in violent cryptocurrency-related crime.
According to the May 2025 Global Guardian Risk Barometer, France currently leads the world in crypto-related extortion and kidnapping cases. Five out of 21 reported global incidents in just the first five months of this year occurred in France—more than any other country.
Just last month, an attempted kidnapping targeted the daughter of Pierre Noizat, CEO of Paymium, a French crypto exchange. The attack—caught on camera in broad daylight in Paris—was only thwarted thanks to the quick action of her partner and alert bystanders.
The incident sent shockwaves through the French Web3 scene and drew media attention to a disturbing trend: public crypto figures are being hunted like characters from a suspense series.
And the Noizat case wasn't an isolated event.
In January, Ledger co-founder David Balland and his wife were kidnapped in Vierzon, France. The attackers severed one of Balland's fingers and demanded a crypto ransom, which was partially paid in Tether before French special forces rescued the couple.
It was later confirmed that French police had tracked the ransom trail and freed the victim from a trunk where he'd been held for 58 hours. Five individuals were arrested during the raid, including two with previous convictions for crypto-targeted crimes.
In June 2025, just outside Paris, a 23-year-old was lured into a fake meeting and held until their partner handed over a Ledger hardware wallet and €5,000 in cash. The attackers had tracked the individual through social media and crypto community posts.
This kind of 'wrench attack' (where physical force is used to extract private keys) is increasingly targeting everyday investors, not just billionaires.
Why France Is Home Of So Many Crypto Attacks?
The answer lies at the intersection of crypto's growing visibility and France's unique position as a Web3-friendly nation. France has taken a proactive stance on digital assets—from regulatory clarity to high-profile conferences like ETHCC. But with innovation comes exposure.
Several factors make France particularly vulnerable:
The investigation into the Noizat attack confirmed that some French crypto CEOs are now exploring hiring private security or even applying for permits to carry arms—reflecting just how real the threat has become in what should be a bastion of innovation.
What ETHCC Attendees Should Know To Protect Their Crypto Investments
With thousands of developers, investors, and builders gathering in Cannes next week for ETHcc, operational security (opsec) is no longer optional.
Cannes, France will be home of the ETHcc conference.
Whether you're demoing a new zk-rollup or pitching a DAO-backed app, here are a few practical tips:
As one ETH investor put it in a private Telegram group: 'You can't decentralize kidnapping.'
The Crypto Industry's Blind Spot
Crypto has revolutionized finance—but it's also introduced new vulnerabilities. Unlike traditional banking, there are no fraud alerts, no reversible charges, and often no legal recourse once funds are gone.
Cryptocurrency is attracting many criminals (Photo Illustration)
While Web3 celebrates decentralization, it has yet to fully confront its exposure to real-world crime. Until more robust safety measures are implemented—from platform-level withdrawal protections to law enforcement crypto training—the responsibility will remain with individuals to protect themselves.
This is particularly urgent in France, where authorities are still playing catch-up. That said, the recent wave of arrests—over 20 suspects charged in coordinated crypto kidnapping rings—shows law enforcement is now starting to respond.
But the question remains: are they moving fast enough?
Crypto Is Only Gaining More Importance
France has emerged as a leader in crypto innovation.
But it's also becoming the epicenter of a new kind of threat—one that blends the digital with the deeply physical. As we gather this week to build the future of finance, we should also be building a culture of safety.
ETHCC may be a celebration of decentralization and empowerment—but let's not forget: in the wrong hands, decentralization without protection is just vulnerability.
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