A new wave of brutal kidnappings, beatings, and tortures related to ransom demands in cryptocurrencies is rapidly increasing around the world. This is evidenced by research data published in The Wall Street Journal, which highlights that crypto investors and entrepreneurs are facing not only online hacks but also real physical violence.
This is reported by Finway
Crimes That Shocked the World
Among the striking examples is a recent attack in Paris, where three masked men attempted to kidnap the daughter of the director of the French cryptocurrency exchange Paymium along with her child. The assailants, armed with gas canisters and fake weapons, tried to forcibly drag the woman into a van. However, her husband intervened and sustained a head injury, but thanks to the help of neighbors, the attack was thwarted.
This incident is just one of many similar crimes that have occurred in France, the USA, and other countries, where people associated with cryptocurrencies have become victims. Many of them have suffered torture, beatings, and in some cases even violent acts such as finger amputations to force victims to hand over their digital assets.
“Many people reach the level of security of ‘hiding gold under the mattress.’ But if you are a public figure, then you have to worry about physical attacks,” said Jameson Lopp, co-founder of the security company Casa.
Statistics and Government Response
In France, there have been at least five similar incidents in recent months, reports WSJ. One of the most brutal cases was the kidnapping of David Balland, one of the founders of Ledger, a company that produces cryptocurrency wallets. After the kidnapping, the criminals sent videos to the other co-founders showing Balland having his finger cut off, demanding a ransom of 10 million euros. The police were able to rescue Balland and his partner, and thanks to a payment in the stablecoin USDT, the victims managed to recover most of the ransom.
Experts believe that the reason for such crimes is the rapid increase in the value of cryptocurrencies. According to WSJ, Bitcoin has risen by 54% over the year, making crypto investors increasingly attractive targets for criminals.
“The younger generation is very savvy about the internet and knows how to find any personal data,” noted security researcher at MetaMask Taylor Monahan.
Victims are usually those who openly display their wealth on social media. One such case was the attack on French streamer Killian Desnos (Teufeurs) in August 2023, when criminals kidnapped his father.
French Interior Minister Bruno Retailleau gathered leaders of crypto companies to discuss security measures. According to him, many attacks may be interconnected and coordinated remotely via messaging apps like Telegram or Signal. “This is a real security crisis. We urgently need to review the protection mechanisms for entrepreneurs,” he stated.
It is worth noting that since the beginning of the year, other cases of attacks and murders for the purpose of stealing crypto assets have also been recorded, including the kidnapping of a Ukrainian citizen by a Russian gang in Bali and an attack on a streamer in Texas.