Crypto Executives Become Prime Targets as Kidnappings Surge Across Europe
In Brief
The cryptocurrency sector in Europe faces a surge in violent kidnappings, particularly in France, causing security concerns and prompting emergency responses to protect the crypto community from ruthless criminals.
Europe’s burgeoning cryptocurrency sector is grappling with an alarming surge in violent kidnappings targeting industry executives, investors, and even their family members. Particularly in France, a series of brazen abductions and assaults have sparked concern among security experts and authorities, prompting emergency responses aimed at protecting the crypto community from increasingly ruthless criminals.
A New Wave of Threats Against Crypto Leaders
In recent months, the crypto industry has witnessed a disturbing escalation of kidnappings, many linked directly to high-profile figures in the digital asset space. Security firms specializing in high-net-worth clients report a marked increase in demand for personal protection services from cryptocurrency insiders.
Amsterdam-based Infinite Risks International, which provides security to affluent individuals, has experienced a sharp rise in inquiries and contracts from crypto professionals seeking safety in an environment growing ever more dangerous.
French authorities have responded by putting emergency protocols in place to safeguard those deemed vulnerable. These measures include expedited access to law enforcement support and confidential security advisories tailored specifically for crypto stakeholders. Officials have urged crypto holders to exercise caution by avoiding conspicuous displays of wealth or wearing branded apparel that could identify them as part of the industry.
High-Profile Kidnappings and Disturbing Violence
The urgency behind these precautions is underscored by several chilling cases.
On May 13, the family of Pierre Noizat, CEO of French crypto exchange Paymium, narrowly escaped a kidnapping attempt in broad daylight. Masked assailants attacked Noizat’s daughter and grandson in a Paris street, attempting to force them into a van. Their resistance, aided by a passerby, forced the attackers to flee.
Such high-profile and violent episodes have raised the stakes for the crypto community and attracted the attention of government officials. France’s Interior Minister Bruno Retailleau has announced plans to meet with leaders in the crypto sector to devise coordinated security strategies. The goal is to better protect individuals at heightened risk and increase awareness of the threats they face.
Ledger CEO Abducted for Ransom
Just in January 2025, David Balland, co-founder of hardware wallet giant Ledger, was abducted and held for ransom. The French special forces unit GIGN was involved in negotiating with the kidnappers and locating Balland, who was eventually rescued. His wife was also found hours later, tied up but unharmed physically, though she required medical monitoring due to trauma.
Authorities traced, froze, and confiscated nearly all of the cryptocurrency used to pay the ransom. Ten suspects aged between 20 and 40 were arrested, most with prior police records. Prosecutors have indicated that the severity of the crime—including the ransom exchange and evidence of torture—could lead to life imprisonment if those responsible are convicted.
Ledger’s CEO publicly expressed relief over the safe return of Balland and his wife, highlighting the trauma endured and hoping the ordeal would not recur. Ledger, established in 2014 and valued at €1.3 billion by early 2023, is well-known for producing secure hardware wallets that protect digital assets from cyber theft. The company also boasts notable board members, including Tony Fadell, known for inventing the Apple iPod.
The menace is not confined to France. Last November, Dean Skurka, head of Canada’s largest crypto firm, WonderFi, was kidnapped in Toronto. His captors demanded a $1 million Canadian dollar ransom. After payment, Skurka was released on the roadside, unharmed physically but traumatized.
Increasing Visibility, Increasing Vulnerability
As cryptocurrency wealth becomes more public, so do the risks. Industry insiders warn that personal security is no longer a luxury but a necessity. The growing visibility of digital asset holders and executives exposes them to criminals seeking ransom payouts through abductions or extortion.
In Paris, the organized crime unit of the police is actively investigating a string of kidnappings linked to cryptocurrency professionals. One recent case involved the violent ambush of a crypto platform owner’s daughter on a street in the city’s 11th arrondissement. Captured on surveillance footage, masked men attempted to drag the woman into a van but fled after a struggle.
While prosecutors have yet to publicly confirm the victim’s identity, sources indicate she is related to the co-founder of Paymium, a leading French crypto exchange. The incident has intensified fears that these attacks may be coordinated or part of an emerging trend targeting cryptocurrency elites and their families.
Days earlier, a 60-year-old crypto marketing firm co-owner was kidnapped in Paris’s 14th arrondissement by masked assailants. Held for over two days, he was discovered in a southern suburb with one of his fingers severed. This brutal act sends a stark warning to anyone connected to the crypto world: criminals are willing to use extreme violence to secure ransom payments.
Government Response and Regulatory Concerns
In response to the growing crisis, Interior Minister Retailleau has vowed to bring together key players from the crypto industry at the ministry to discuss security challenges and preventative measures. This move reflects government recognition that the industry requires tailored protection due to its unique risks.
Complicating matters, recent regulatory changes may inadvertently expose cryptocurrency users to greater danger. European Union rules implemented at the end of 2024 extended the so-called Travel Rule, originally applied to traditional finance transfers, to cryptocurrency transactions. These regulations compel platforms to collect and transmit detailed personal data, including names, addresses, and wallet information, to counterparties.
According to Paymium’s strategy director, Alexandre Stachtchenko, these data collection mandates create a “ticking time bomb” that could threaten the safety of millions of cryptocurrency holders. He warns that if this sensitive information is leaked or hacked, it could quickly end up on the dark web, providing criminals with a roadmap to locate and target wealthy individuals.
Such concerns resonate beyond France. On the other side of the Atlantic, Coinbase revealed that criminals had bribed employees and used deceptive tactics to steal digital assets from users, subsequently attempting to extort the company into silence. Coinbase responded by notifying regulators and planning a massive reimbursement program estimated at up to $400 million.
The Balance Between Security and Privacy
The debate continues around regulating crypto; it can be difficult to balance the fight against money laundering and user safety and security. In an interview, lawyer and digital assets specialist Sarah Compani stated that the attempts to solidify compliance rules reduce the misuse of the financial system for money laundering or corruption, like funding drug trafficking, with hypothetical effects that present increased potential personal risk for holders of valid cryptocurrencies.
Paymium has prompted authorities to act quickly and tighten protections for businesses and persons in the industry by warning that “massive and often asymmetric” data extraction could pose dangers to safety across Europe. The company suggests that regulations must be sensibly balanced to protect privacy while not putting lives in jeopardy.
A Call for Vigilance and Collaboration
The recent wave of kidnappings tied to the crypto industry is a distressing development for digital finance in Europe and elsewhere. With the promise of crypto riches, more executives and entrepreneurs, along with their families, are increasingly becoming victims of violent crime.
Police, leaders in the industry, and security experts generally agree the way forward is multi-pronged which includes enhanced efforts for law enforcement, better regulatory policies, and stronger personal security practices. For those who have grown their fortune in digital assets, staying safe means more than securing private keys; they also need to protect their lives and their loved ones from this new kind of threat.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
