A TikTok crypto influencer was kidnapped in Essonne, France, by four men demanding a ransom of $58,000 in cryptocurrency. After checking his wallet balance, the kidnappers released him when they discovered he was broke. This incident reflects the rise in so-called '$5 wrench attacks' in France, where criminals target crypto holders. In response to these threats, French MP Paul Midy has proposed a law to restrict access to the residential addresses of public crypto figures, aiming to enhance safety for the crypto community. This proposal comes amidst increasing incidents of violence against cryptocurrency investors, highlighting a disturbing trend that police are struggling to combat. Recent police actions have led to several arrests related to different kidnapping cases involving cryptocurrency entrepreneurs, indicating a growing concern over safety in the crypto market. Experts remind victims that cryptocurrencies are traceable, urging precaution against such physical threats.

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