Escalating Crypto Kidnappings: A Call for Enhanced Security
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The Rise of Crypto Kidnappings in 2025
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The crypto industry faces a daunting challenge as reports surface of an alarming increase in kidnappings linked to digital currencies. Notably, the father of a crypto entrepreneur in France was recently abducted and subjected to severe physical harm as part of a ransom demand. This incident has shaken the cryptocurrency community, underscoring the urgent need to address personal security concerns.
Increasing Incidence of Crypto Attacks
According to a comprehensive list compiled by Jameson Lopp on GitHub, the year 2025 has already witnessed nearly 30 physical attacks related to cryptocurrency. This trend suggests a potential surpassing of the 35 recorded incidents in 2024 and the 24 in 2023. Many victims choose to remain silent, fearing further repercussions.
French media outlet France 24 reports that the recent kidnapping victim was held captive for several days in isolation, with perpetrators demanding a ransom of up to 7 million euros (approximately $8 million). In a shocking display of coercion, the kidnappers severed one of the victim’s fingers. Fortunately, a police operation on May 3 successfully liberated the victim and resulted in the arrest of five suspects.
International Arrests and Ongoing Investigations
In a significant breakthrough, authorities in Morocco apprehended a suspect on June 4, believed to be orchestrating multiple crypto-related abductions. Meanwhile, in France, over a dozen individuals with alleged connections to high-profile cases were detained on May 26. Under French law, suspects can be held for up to 96 hours without formal charges.
Urgent Calls for Enhanced Security Measures
The spate of attacks has prompted crypto companies to fortify their security protocols. Interior Minister Bruno Retailleau convened a meeting to address the surge in violence. During the 2025 Consensus conference on May 15, Chainalysis CEO Jonathan Levin emphasized that criminals still harbor the belief that cryptocurrency is untraceable. Additionally, Kraken’s security chief Nick Percoco highlighted in a June 5 blog post the lack of basic situational awareness among crypto users at public events.
Underreporting and the Hidden Threat
Experts caution that these so-called “wrench attacks” may be more prevalent than reported figures indicate. A University of Cambridge study conducted in September revealed that victims often fear retribution or public embarrassment. The study further noted that attackers range from organized crime syndicates to individuals familiar to the victims, such as acquaintances or family members.
Industry leaders now face a pivotal decision: either leave personal safety to chance or prioritize robust security measures. For many in the crypto world, this entails utilizing hardware wallets, keeping travel plans confidential, and collaborating with reputable security firms. The severity of these crimes highlights that relying solely on technology will not suffice to ensure personal safety.
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