French police detain multiple suspects linked to recent crypto abductions

French authorities have arrested more than a dozen individuals linked with two high-profile kidnapping cases involving cryptocurrency industry players. The arrests were carried out early Monday morning by the Anti-Banditism Brigade as part of ongoing investigations into two violent incidents.

The first case dates back to May 1, when the father of a young online poker player and crypto businessman was kidnapped in Paris. Four masked individuals posing as delivery workers in a fake UPS van forcibly abducted the man. 

To pressure his son into transferring between 5 and 7 million euros, the kidnappers severed one of the victim’s fingers and filmed the act. The man was eventually rescued in a police operation involving the Paris Research and Intervention Brigade (BRI) and the Brigade for the Repression of Banditry (BRB).

The second incident occurred on May 13 in Paris’s 11th arrondissement. A 34-year-old woman was nearly abducted by three armed and masked individuals driving a van. The attempt was foiled by a passerby and the victim’s partner, who intervened despite being assaulted. 

The assailants ultimately fled, abandoning their attempt. The intended victim is believed to be the daughter of Pierre Noizat, CEO and co-founder of the cryptocurrency platform Paymium. 

Authorities believe both incidents may be connected to a larger criminal network using social media to recruit young operatives for violent missions. The judicial investigations have been officially opened under serious charges. This led to the arrest of several young people, with minors being a huge part of the numbers.

The incidents have raised concerns about the rising trend of violence targeting figures in the cryptocurrency world. Between May 2024 and May 2025, kidnappings involving figures in the cryptocurrency world surged, fueled by a growing perception that digital assets are both easy to access and quick to transfer. 

In July 2024, Australian tech billionaire Tim Heath narrowly avoided abduction in Estonia. A gang had monitored him for months, going so far as to plant a GPS tracker on his vehicle. He managed to fight back during the attempted kidnapping, escaping while the assailants fled in a rented getaway van, later traced by investigators. 

Four months later, in Las Vegas, a crypto event turned into a nightmare when three teenagers kidnapped a host after the gathering. They forced him into the desert at gunpoint and extracted access to his digital wallets, ultimately stealing $4 million in cryptocurrency and NFTs. 

By December 2024, the menace had spread to Belgium. Stéphane Winkel, a well-known crypto investor, witnessed the abduction of his wife from their home. A high-speed police chase ended with her rescue, marking one of the boldest crypto-linked kidnappings to date. 

Later that month in France, a 56-year-old man, the father of a Dubai-based crypto influencer, was found in a car trunk in Le Mans, doused in gasoline. His son’s online displays of wealth had made him a target. Quick action by the influencer and police saved his life.

January 2025 brought an especially gruesome incident: David Balland, co-founder of Ledger, one of France’s top crypto wallet companies, and his wife were kidnapped from their home in central France. The attackers cut off Balland’s finger and sent a video ransom demand of €10 million in cryptocurrency to his business partner. 

French authorities mounted a massive response, deploying 200 officers and arresting ten suspects during the rescue operation. The violence of this attack sent shockwaves through the crypto community.

Elsewhere in May, a cryptocurrency investor named John Woeltz was arrested in New York on charges of kidnapping and torturing a 28-year-old Italian man. 

Over several weeks, Woeltz allegedly beat and shocked the victim inside a Manhattan townhouse to force him to surrender his Bitcoin credentials. The victim eventually escaped and contacted police. Woeltz, now in custody, faces serious charges, including kidnapping and assault.

These incidents reveal distinct patterns. Victims are often individuals who publicly showcase their cryptocurrency success, making themselves visible targets. Many attackers are lured by the mistaken belief that crypto assets are untraceable, despite increasing evidence that blockchain analytics can track most transactions. 

Authorities, including the Financial Action Task Force, have raised alarms that cryptocurrencies may become perceived “safe havens” for criminal activity, though in reality, they are often easier to trace than cash.