Cryptocurrencies have become the target of brutal crimes, according to a report by The Wall Street Journal. Research indicates that physical assaults on crypto investors, rather than traditional online hacks, have become a new reality.
This is reported by Business • Media
Recently, several kidnapping cases have been reported in France, particularly in Paris, where criminals attempted to abduct the daughter of the director of the cryptocurrency exchange Paymium. The attackers, armed with pepper spray and fake weapons, tried to drag the woman into a van, but her husband intervened, sustaining injuries in the process. Neighbors helped fend off the attack.
This incident is just part of a trend observed in several countries, where individuals associated with cryptocurrencies are becoming victims. Some have been tortured, and in certain cases, fingers have even been severed to force them to hand over their digital assets.
“Many people are reaching a level of security where they think, ‘hide the gold under the mattress.’ But if you are a public figure, then you have to worry about physical attacks,” said Jameson Lopp, co-founder of the security company Casa.
According to law enforcement data, there have been at least five such incidents in France, one of which involves the kidnapping of David Balland, one of the founders of Ledger. After the abduction, the criminals sent a video of a severed finger to his colleagues, demanding a ransom of 10 million euros. The police managed to rescue Balland by paying a ransom in the stablecoin USDT, and the organizer of the attack has already been apprehended.
Experts believe that the rising value of cryptocurrencies is attracting the attention of criminals. The price of Bitcoin has increased by 54% over the year, making crypto investors increasingly attractive targets. Leaks of personal data from well-known companies like Ledger, Coinbase, and Kroll also make it easier for criminals to find victims.
“The younger generation is very savvy with the internet and knows how to find any personal information,” noted Taylor Monahan, a security researcher at MetaMask.
Victims are primarily those who openly display their wealth on social media. One such case occurred in August 2023, when the father of French streamer Killian Desnos (Teufeurs) was kidnapped. The perpetrators demanded a ransom, sending a video of the tied-up man.
After the attack on the family of the Paymium director, France’s Minister of the Interior Bruno Retailleau gathered leaders of cryptocurrency companies to discuss security measures. According to him, many of these attacks may be interconnected and coordinated through messaging apps like Telegram or Signal.
“This is a real security crisis. We urgently need to reassess the protection mechanisms for entrepreneurs,” emphasized Retailleau.
Since the beginning of the year, other cases of attacks and murders demanding crypto assets have been recorded, including the kidnapping of a Ukrainian citizen by a Russian gang in Bali and the murder of a Chinese individual in South Korea over cryptocurrencies.