Paris Police Investigate Suspected Kidnapping and Assault of Former Crypto Trader

An ex-crypto trader was reportedly kidnapped for ransom while traveling between Paris and Saint-Germain-en-Laye in yet another wrench attack.

Such incidents are becoming alarmingly routine in France’s growing issue with crypto-related abductions, which security consultants warn is merely “the tip of the iceberg.”

The victim, known only as Alexandre, was released around 4 a.m. on Wednesday morning with visible facial injuries after being choked unconscious by his abductors, who sought about $11,600 (or €10,000) from a contact in Algeria via a disturbing image depicting him bound and kneeling, as reported by Le Parisien.

Police found the injured man walking home and promptly took him into custody for medical assessment and interrogation.

This wrench attack adds to an unsettling pattern of crypto-related kidnappings, which cybercrime consultant David Sehyeon Baek told Decrypt are far more prevalent than what is known to the public.

“Many incidents go unnoticed as victims often stay silent to safeguard their reputation or to prevent becoming repeat targets,” Baek noted.

France has the highest incidence of crypto-related wrench attacks in Europe, with security professional Jameson Lopp’s database recording roughly 10 incidents in 2025, which represents a third of the 29 cases documented in Europe.

“Owing to the borderless nature of cryptocurrency, ransom demands are often made in crypto to facilitate fund movement and withdrawal,” stated Karan Pujara, founding member of scam defense service ScamBuzzer, emphasizing that Alexandre’s assailants specifically requested euros rather than cryptocurrency.

“These attacks demonstrate that traders and investors should refrain from displaying or disclosing their earnings,” he advised.

Baek cautions that Alexandre’s purported kidnapping signifies a worldwide trend where “organized crime groups and traditional street gangs are increasingly engaging in this activity, perceiving crypto individuals as accessible, high-stakes victims.”

This follows the abduction and wrench assault of Ledger co-founder David Balland, who endured torture and had a finger severed before being rescued by police in January.

In June, French authorities apprehended alleged planner Badiss Mohamed Amide Bajjou in Morocco and charged 25 suspects, most of whom were quite young, in connection with schemes that included the savage assault on Paymium CEO Pierre Noizat’s pregnant daughter.

The anonymous nature of cryptocurrency, coupled with its quick transferability, renders it especially appealing to criminals willing to resort to extreme violence, according to Pujara.

He explained that if criminals are “unsuccessful in executing online scams,” they will go to the lengths of “inflicting harm and seeking ransom through the victim’s associates, no matter how the crypto is stored—be it in a hot wallet, cold wallet, or multi-signature.”

Without meaningful alterations to personal security measures and enhanced international law enforcement collaboration, Baek anticipates that the trend of wrench attacks will continue to grow.

Investigators are currently scrutinizing Alexandre’s clothing and skin for forensic evidence as they validate his account of the incident.