In a dramatic rescue operation in Paris, French police freed the father of a crypto businessman who had been kidnapped and held for ransom. The man was reportedly detained for several days while captors demanded between €5 million and €7 million (up to $7.9 million) in cryptocurrency, according to Le Monde and Le Parisien. The May 3 raid led to the arrest of five individuals.

The victim and his son are believed to be co-owners of a Malta-based crypto marketing firm. Their identities remain undisclosed, likely due to ongoing security concerns. The case has drawn comparisons to a similar incident involving Ledger co-founder David Balland, who was kidnapped in France earlier this year and also held for crypto ransom before being rescued by authorities.

This incident is part of a disturbing trend of high-profile crypto-related kidnappings around the world. In November 2024, WonderFi CEO Dean Skurka was abducted in downtown Toronto and forced to pay a $1 million crypto ransom. In February 2025, six suspects in Chicago were charged after kidnapping a family and their nanny, coercing them into surrendering $15 million in digital assets. The assailants reportedly faked a garage mishap to gain entry into the home.

In March 2025, popular online streamer Amouranth was targeted in a home invasion in Texas, where armed suspects demanded access to her crypto holdings. Four were arrested in connection with the case.

With the growing visibility and wealth of crypto entrepreneurs, law enforcement agencies worldwide are seeing a sharp rise in abduction-for-ransom schemes linked to digital assets, highlighting a troubling vulnerability in the crypto space.