By Callan Quinn
2 min read
French authorities have detained seven suspects following the kidnapping of a 20-year-old Swiss man, believed to be the latest case in France’s growing wave of cryptocurrency-related abductions.
The victim was rescued last Sunday in Valence during a special operation involving 150 gendarmes.
He was reportedly found tied up in a house near the city’s high-speed train station, according to regional newspaper Le Dauphiné Libéré.
The case is the latest in a spate of so-called “wrench attacks” in France, in which kidnappers target wealthy crypto traders, executives or their families for ransom, often using violent methods to force the surrender of digital assets.
Security experts warn the country now leads Europe in such incidents, with analyst Jameson Lopp tracking at least 10 wrench attacks in France in 2025 alone, nearly a quarter of the 48 reported globally this year.
David Sehyeon Baek, a cybercrime consultant, previously told Decrypt that the number of incidents is likely higher than reported.
"Many cases never reach the public eye because victims choose silence to protect their reputation or avoid becoming repeat targets," he said.
Nevertheless, France has faced some of the most brutal recent cases. In January, kidnappers seized Ledger co-founder David Balland, severed his finger and demanded ransom before his release.
In May, the father of a Malta-based crypto executive was abducted in Paris. His finger was also cut off before a police raid freed him. And in June, police arrested alleged mastermind Badiss Mohamed Amide Bajjou in Morocco and charged 25 suspects in schemes that included an attack on Paymium CEO Pierre Noizat’s pregnant daughter.
The problem, however, extends far beyond France. Criminal groups worldwide are seizing on the anonymity and portability of cryptocurrencies to extort victims, making digital wealth a uniquely tempting target.
Victims include both those working in crypto and other wealthy individuals whom kidnappers demand pay their ransoms in crypto.
In March, Chinese-Filipino steel magnate Anson Que was killed after kidnappers demanded $20 million in crypto. In Hong Kong, a Turkish man was ambushed during a multimillion-euro crypto trade.
And in Brazil, a Spanish businessman was drugged and held for five days while criminals sought $50 million in ransom.
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