French Police Execute Swift Rescue of Crypto Millionaire’s Kidnapped Father

A 50-something man, father of a wealthy cryptocurrency entrepreneur, was kidnapped in Paris and later rescued by police within days. The abduction reflects a troubling rise in crypto-related crimes in France, with ransom demands reaching millions. Authorities continue their investigation into the case.

French police have successfully rescued the father of a cryptocurrency millionaire who was kidnapped in a brazen attack in central Paris on Thursday. The victim, whose identity remains undisclosed, was reportedly confronted by four masked assailants who forcibly abducted him and placed him into a delivery vehicle during daylight hours.

The man was held for ransom, with reports indicating that the kidnappers demanded a sum between 5-7 million euros (approximately £4.2-5.9 million) from his wealthy son. Authorities managed to locate the victim in a residential area of Palaiseau, located south of Paris, based on mobile phone signals, leading to the rescue. Upon his release, the victim was found with one of his fingers missing, raising concerns about the severity of his ordeal.

Following the operation, police apprehended four individuals who are now facing interrogation regarding their roles in the incident. The French Interior Minister, Bruno Retailleau, publicly commended the police for their effective and swift action in returning the man safe to his family.

This event is the third known kidnapping related to the cryptocurrency sector in France within the year, drawing attention to a growing trend of violence connected to the digital currency industry. Previous incidents include the abduction of David Balland, co-founder of the cryptocurrency company Ledger, who was taken alongside his wife. In that case, the ransom demand reached 10 million euros (£8.5 million), and like in the latest situation, the victim suffered a severe injury with a finger being severed during captivity.

The troubling pattern of kidnappings in this industry highlights the increasing risks associated with wealth generated through cryptocurrencies, prompting authorities to intensify their efforts in tackling such crimes.