Father of wealthy cryptocurrency entrepreneur kidnapped in Paris, held for two days for ransom

Three and a half months after the Ledger co-founder was kidnapped for ransom , the father of a man who made his fortune in cryptocurrencies was abducted in the heart of Paris, before being held captive for two days – including having a finger cut off – and then released on the evening of Saturday, May 3, during an assault by the Research and Intervention Brigade (BRI).

The man was abducted around 10:30 a.m. Thursday in the 14th arrondissement of the capital, the Paris prosecutor's office said. According to a police source, the act was carried out in front of witnesses by four hooded men who took him aboard a delivery van.

"The victim turned out to be the father of a man who had made his fortune in cryptocurrencies, and the incident was accompanied by a ransom demand," the prosecutor's office said, without specifying the amount. According to the newspaper Le Parisien , "the perpetrators allegedly demanded between €5 million and €7 million in wire transfers in exchange for his release." A source close to the case told AFP that the kidnappers had demanded a "very high" sum but had not been paid.

The release of "the victim held in a home located in Essonne" took place on Saturday around 9 p.m. , the prosecutor's office said. The man was freed by the BRI in the house where he was being held. "During this intervention, four individuals were arrested" and "taken into custody," the prosecutor's office said. The injured victim was taken into care by emergency services, with a severed finger.

"Numerous investigations, " an "extraordinary" and "anthology" investigation, made it possible to locate the place where the hostage was being held, the source stressed, adding that "further mutilations were to be feared" if the police had not intervened.

"A huge congratulations to the investigators who did an exceptional job freeing this man and arresting his captors," Interior Minister Bruno Retailleau responded on X, praising the "decisive commitment" of Police Prefect Laurent Nuñez and his staff.

The victim's wife, interviewed by the police, stated that her husband and son, who own a marketing company managing cryptocurrency in Malta, had been the subject of threats in the past, according to the police source.

An investigation has been opened for arrest, kidnapping, sequestration and arbitrary detention of a hostage to obtain the execution of an order or a condition, extortion with a weapon, all by an organized gang, and participation in a criminal association.

The Anti-Banditism Brigade and the Judicial Police are in charge of the investigations. According to a source close to the investigation, the Cybercrime Brigade and the BRI have also been mobilized in this probe.

This kidnapping, followed by a holdup with a cryptocurrency ransom demand, comes just over three months after the abduction of the co-founder of Ledger, a company specializing in crypto assets. In the early hours of January 21, David Balland and his partner were kidnapped from their home in Méreau (Cher).

The alert was raised by Eric Larchevêque, co-founder of Ledger, who received a video of David Balland's severed finger, accompanied by a large cryptocurrency ransom demand. Held captive in Châteauroux (Indre), David Balland was released on January 22. His partner was found tied up in the trunk of a vehicle in Essonne the following day.

At least nine suspects have been charged in this case, including the alleged mastermind of the kidnapping.

Meanwhile, in early January, a 56-year-old man was found in the trunk of a car near Le Mans, several hundred kilometers from his home in the Ain department. According to several media reports, he was the father of a Dubai-based cryptocurrency influencer who regularly posts videos about his winnings, and a ransom demand had been made.

At the end of January, a man in his thirties, a cryptocurrency operator, was held captive in Troyes , in the Aube department. Four people ambushed him by promising him a professional meeting, before demanding €20,000 to let him leave. The thirty-year-old was, however, able to contact a friend, who alerted the police. The victim was released without injury, and the four suspects were arrested.