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In a chilling incident that underscores the growing risks facing cryptocurrency professionals, a former crypto trader was kidnapped in Paris overnight between August 26 and 27. His captors demanded a €10,000 ransom, marking yet another case in a disturbing wave of physical attacks targeting crypto investors worldwide.
ANOTHER crypto kidnapping in Paris reported today.
Kidnappers only demanded a €10,000 ransom – this suggests they’re not just going for the millionaires.
If you’re doxxed, share info about daily habits or even worse where you live… you’re a potential target.
A brief 🧵 pic.twitter.com/2gmouMCuPu
— Beau (@beausecurity) August 27, 2025
According to reports from franceinfo, the victim was held hostage, assaulted, and ordered to transfer funds he did not possess. When he failed to comply, the kidnappers contacted one of his friends, sending a photo of the ex-trader kneeling with his hands tied and a weapon aimed at him.
The friend alerted police, who rushed to the victim’s home where his wife confirmed he was missing. Authorities later traced his mobile phone to Paris’s 10th arrondissement. Eventually, around 4 a.m., the man returned home, visibly battered and deeply traumatized.
A Global Surge in “Wrench Attacks” Against Crypto Holders
The incident follows alarming warnings from industry leaders. Earlier this month at the Baltic Honeybadger 2025 conference, Alena Vranova, founder of SatoshiLabs, revealed a surge in so-called “wrench attacks” — physical assaults designed to force crypto owners to hand over their assets.
Data suggests at least one such attack occurs every week globally, with some kidnappings demanding as little as $6,000. The threat affects not only high-net-worth individuals but also smaller investors, making security a growing concern across the crypto sector.
To counter risks, the French government recently authorized crypto entrepreneurs to hide their personal addresses in business registries. While this measure aims to limit exposure, experts warn it is not enough.
Vranova highlighted that sensitive information on more than 80 million Bitcoin and crypto holders has already leaked online, often through exchange hacks or compromised wallet applications. In May 2025, Coinbase itself suffered a major data breach, further exacerbating the problem.
Analysts also point to a troubling pattern: as Bitcoin’s price climbs during bull markets, incidents of kidnapping and extortion rise in parallel. For many investors, the optimism of a rally is now tempered by fear — with the promise of profits shadowed by the threat of physical violence.
This latest Paris kidnapping adds to a mounting list of cases that raise urgent questions about how crypto investors, traders, and entrepreneurs can protect themselves in an increasingly hostile environment. Having a safe and secure crypto wallet could be a good way against real-world threats.
