French police successfully rescued the father of a wealthy cryptocurrency entrepreneur in a daring nighttime operation after he was kidnapped and held for ransom. The abduction occurred on Thursday morning in Paris, according to the prosecutor’s office.
Authorities confirmed that the victim was targeted because his son had accumulated significant wealth through cryptocurrency ventures. A ransom demand accompanied the abduction, although officials did not disclose the names or personal details of those involved.
Following an investigation, police located the hostage in a house in the Essonne region, south of Paris. He was rescued Saturday night and treated for injuries. While no official details were provided about his condition, local media reported that the kidnappers allegedly cut off one of his fingers.
Five individuals were arrested in connection with the crime. Four suspects were apprehended at or near the location where the man was held, and the fifth was found driving a vehicle believed to have been used during the abduction. Investigators are considering multiple serious charges, including kidnapping involving acts of torture or barbarity.
This incident follows a similar case in January, when David Balland, co-founder of the French crypto-wallet firm Ledger, and his wife were kidnapped from their home in the Cher region. In that case, the kidnappers reportedly demanded cryptocurrency from another Ledger co-founder as ransom. A specialized unit from France’s National Gendarmerie, trained in handling hostage crises, intervened and freed Balland the following day. His wife was found and rescued a day later, tied up in a vehicle.
These events highlight the growing security risks faced by individuals involved in the cryptocurrency industry in France.
