French Police Successfully Rescue Kidnapped Father of Crypto Millionaire

In a dramatic rescue, French authorities have saved the father of a crypto millionaire who was kidnapped in broad daylight. This incident is the third related to France's cryptocurrency sector this year, raising concerns over abductions connected to financial gain.

French police have successfully rescued the father of a cryptocurrency millionaire who was kidnapped for ransom in a suburb of Paris. The incident occurred on Thursday when the unidentified man was attacked in broad daylight in central Paris and subsequently forced into a delivery van by four masked assailants, as reported by Le Figaro.

After an extensive investigation, French media disclosed that the victim, in his 50s, was discovered with a severed finger when police located him on Saturday at a house in Palaiseau, south of Paris. The kidnappers allegedly demanded a ransom ranging from 5 to 7 million euros (£4.2 to £5.9 million) from his wealthy son.

Thanks to phone signal tracking, law enforcement authorities were able to pinpoint the location of the victim, leading to the arrest of the four suspects involved in the abduction. The police are currently interrogating the detained individuals to gather further information regarding the case.

French Interior Minister Bruno Retailleau took to X (formerly Twitter) on Saturday to commend law enforcement for their “exceptional job in freeing this man,” highlighting the swift action taken by police. This incident follows another high-profile kidnapping in the cryptocurrency sector, which took place four months ago. David Balland, the co-founder of the cryptocurrency company Ledger, and his wife were also abducted and held for ransom; they too were rescued, though Balland suffered a similar fate of losing a finger.

Earlier in January, another case surfaced when a 56-year-old man, linked to the crypto industry, was found alive in the trunk of a car near Le Mans after an abduction attempt aimed at extorting money from his son, a cryptocurrency influencer residing in Dubai.

The recent spate of kidnappings suggests a worrying trend linked to France's booming cryptocurrency market, raising questions about security and the well-being of individuals connected to this lucrative industry.