Crypto Crackdown: French Police Foil Kidnapping Plot, Arrest Over 20 Suspects
In a significant victory for law enforcement, French authorities have thwarted the latest in a series of kidnapping attempts targeting cryptocurrency entrepreneurs, arresting more than 20 people in connection with the failed plot. According to a police source, the operation disrupted not only the recent scheme but also another planned attack against the family of prominent crypto executive Pierre Noizat.
The coordinated arrests come as France grapples with a growing trend of criminals targeting the nation’s burgeoning cryptocurrency industry. Attracted by the perceived wealth of digital asset holders, organized crime syndicates have increasingly focused their efforts on abducting and extorting crypto entrepreneurs and their loved ones.
“This is a significant win for our counterterrorism and cybercrime units,” said a senior police official, speaking on condition of anonymity. “We are committed to protecting France’s crypto community from these nefarious actors and sending a clear message that such activities will not be tolerated.”
The latest foiled plot is believed to have involved a sophisticated plan to kidnap and hold for ransom several prominent cryptocurrency investors and founders. Investigators say the suspects, whose identities have not been publicly released, were in the advanced stages of planning the abductions when law enforcement intervened.
In addition to the recent attempt, the police source revealed that the sting operation also disrupted another kidnapping scheme targeting the family of Pierre Noizat, the co-founder and CEO of Paymium, a leading French cryptocurrency exchange. Noizat, a well-known figure in the country’s digital asset community, was reportedly the intended victim of the separate plot.
“These criminals have shown a blatant disregard for the safety and security of our citizens,” said the police official. “By working closely with the crypto industry and deploying our most advanced investigative techniques, we have been able to stay one step ahead of these dangerous groups and protect our people.”
The arrests come as France continues to position itself as a hub for cryptocurrency innovation, with the government offering a range of incentives and regulatory frameworks to attract investment in the burgeoning sector. However, the persistent threat of kidnapping and extortion has cast a shadow over the country’s crypto ambitions, prompting calls for even stronger security measures and collaboration between law enforcement and the digital asset community.
