Michaela
French authorities have reportedly apprehended multiple individuals in connection with a recent crypto kidnapping case involving the abduction of a cryptocurrency entrepreneur’s father, who was held captive for several days in May.
According to local reports, a source familiar with the case noted that the several individuals that were taken into custody were likely connected to the kidnapping of a crypto entrepreneur’s father which occurred in broad daylight within Paris’s southern 14th arrondissement, where four masked assailants forcibly moved the victim into a delivery van while onlookers observed.
The crypt entrepreneur’s father, abducted in early May, was held captive for several days. During his ordeal, kidnappers demanded a ransom of up to 7 million euros (approximately $8 million) and resorted to severing one of his fingers. Shortly after the ransom demand was made, a police tactical unit successfully stormed a house in a Paris suburb, liberating the victim.
While several individuals have reportedly been taken into custody, the precise number of arrests and their locations have not yet been disclosed by authorities. Under French law, suspects in such cases can be held for up to 96 hours before formal charges must be filed.
France has experienced a notable increase in crypto kidnapping cases and attempted kidnappings in recent weeks. This incident bears a striking resemblance to a prior case involving Ledger co-founder David Balland and his wife, who were also targeted and held for ransom.
In January, Balland and his wife were reportedly held captive at separate locations by their abductors. The perpetrators demanded a substantial cryptocurrency ransom, escalating their threats by sending Balland’s severed finger as proof of their seriousness.
A 24-year-old individual, Badiss Mohamed Amide Bajjou, identified as the suspected mastermind behind Balland’s kidnapping and a series of similar attacks targeting cryptocurrency figures, was apprehended last week in Tangier, Morocco.
The escalating wave of physical threats and crypto kidnappings targeting investors is prompting insurance providers to fundamentally reassess their risk management strategies. Consequently, a growing number of specialized firms are now actively developing tailored kidnap and ransom (K&R) policies to bolster clients’ physical security in response to these heightened concerns.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
