France Arrests 5 in Kidnapping Case of Crypto Tycoon’s Father

French police have arrested five people, four adults and one minor, for kidnapping the father of a well-known cryptocy entrepreneur. The businessman lives in Dubai and is popular on social media. Authorities have not revealed his name but said he is widely recognized. Five men armed with guns attacked a man and his wife in their house at Saint-Genis-Pouilly, close to the Swiss border, on December 31, 2024.

They asked for ransom money from their son, who is an influencer of crypto assets. When they did not receive the cash, they kidnapped the father. He was found hours later inside the trunk of a car in Sarthe, nearly 435 miles away. He had been beaten and doused in petrol. His wife was found tied up at home. Police arrested the five suspects last Tuesday. The group includes: Four adults aged 18 to 22 and one 17-year-old minor. Three of the adults already had criminal records for violence, theft, and drug trafficking. The minor had a record for aggravated theft. They are now facing charges including kidnapping, armed robbery, and assault. This isn’t the only case of its kind.

In recent months, France has seen several other crimes targeting people connected to cryptocy. In May, authorities charged 25 individuals for trying to kidnap various crypto businesspeople and their family members.  One of the most startling instances was that of Pierre Noizat, CEO of crypto firm Paymium. During the day in Paris, his granddaughter and grandson were targeted for kidnapping by kidnappers. Luckily, they failed. Another disturbing incident took place in June.