Kidnappers Demand Ledger Access in Paris Crypto Theft Case

In a recent event in Maisons-Alfort, near Paris, a 23-year-old man was kidnapped on Tuesday. The kidnappers held the man for hours, demanding 5,000 euros (about $5,764) in cash and access to his Ledger wallet, a device that stores his digital money. This is part of a growing problem where criminals target people who own cryptocurrency, like Bitcoin.  

As per the reports , the kidnappers had used violence to try to get information about his crypto before letting him go in Créteil. Police haven’t caught anyone yet, and they are still investigating.

These crimes, called “wrench attacks,” happen when thieves use force to steal cryptocurrency. Such incidents of kidnapping for crypto are increasing in France. 

The country has seen other cases, like an attempt in May to kidnap the family of Pierre Noizat, who runs a crypto company. This is not just a problem in France; similar attacks have happened in places like New York, India, Hong Kong, the Philippines, the UK, and Spain over the last five years. 

For example, in New York, two people were charged with kidnapping someone to get their crypto wallet. These attacks show how crypto owners can be at risk from criminals who want their digital money. Jameson Lopp, who helped start a company called Casa that protects Bitcoin, has recorded 232 cases over the last 11 years where crypto owners were physically attacked. 

One famous case was in the year 2014, when Hal Finney, an early Bitcoin adopter, was “swatted,” meaning someone tricked the police into sending a SWAT team to his house to scare him into giving up his crypto. These attacks show that people who own cryptocurrency can be targets for criminals. Police and authorities worldwide are telling crypto owners to improve their safety and stay alert because these bold attacks are becoming more common.