Entrepreneurs safeguarding initiative by Bruno Retailleau aimed at thwarting abduction attempts in the crypto sector
Crypto Chiefs Storm Beauvau: Bruno Retailleau Vows to Fight Kidnappings
📸 By Josephine Pelois, General news journalist for our site.fr, May 17, 2025
Last Friday, May 16, French crypto entrepreneurs sat down with Interior Minister Bruno Retailleau at the Place Beauvau to discuss enhanced protection measures in response to a surge of targeted attacks. Following the infamous abduction attempt earlier this month on the daughter and grandson of the CEO of the Paymium exchange platform, the minister reassured the entrepreneurs that these disturbing incidents would be dealt with using specific, short- and long-term tools.
Retailleau promised that the entire state apparatus is mobilized to locate the culprits behind these heinous acts, with a focus on both immediate and long-term strategies to prevent, deter, and disrupt these attacks for the security of the crypto industry.
A Stronger Shield for Crypto Professionals
The Interior Ministry intends to bolster cooperation with internal security forces to provide better protection for crypto professionals and their families. Crypto executives can now expect priority access to the emergency call number 17 and security consultations for their households by national police and gendarmerie security specialists. New safety briefings for the sector will soon be held. Beauvau also announced the adoption of a "double point of contact with the number 17 for any form of emergency", as well as increased training for police and gendarmes in combating cryptoasset money laundering.
The Multiplying Menace of Crypto Extortion
This recent wave of violence against crypto entrepreneurs has already claimed several victims. On May 3, the father of a crypto executive was kidnapped and held for 58 hours, with criminals demanding between 5 to 7 million euros via wire transfer for his release. Following this abduction attempt, the company called upon the authorities for immediate action to safeguard employees in the field.
In late January, the co-founder of Ledger and his partner were kidnapped in the Cher department, with Eric Larcheveque raising the alarm after receiving a chilling video showing a severed finger of David Balland. The abductors demanded a "significant" ransom in cryptocurrency. In another case, a man was found in the trunk of a car near Le Mans at the beginning of January, a victim of what appeared to be a kidnapping attempt involving a sizeable ransom demand.
A Call for Action in the Face of Intensifying Violence
In light of the escalating number of these violent attacks, Eric Larcheveque, known for his stint on M6’s "Who wants to be my partner?", has lamented what he sees as a "Mexicanization of France." He warned that in today's climate, success in France, whether in the crypto world or elsewhere, means branding oneself a target. Larcheveque demands not empty promises but actions, not publicity stunts but results to safeguard the security of crypto entrepreneurs.
Heed our call - Secure your crypto assets with our online buying and selling platform partner
Around the Article
Cryptocurrencies
Violence
Kidnapping
TV show
1.France Info, 2025, "France strengthens security measures to protect crypto businesses and professionals" [Online]. Available: https://www.francetvinfo.fr/economie/tech/crypto-non-fungibles-economie/france-renforce-ses-mesures-de-securite-pour-proteger-les-entreprises-et-professionnels-du-secteur-du-crypto-4184811.html [Accessed: 17 May 2025]
2.Le Figaro, 2025, "Interview with Bruno Retailleau: France fights against kidnappings targeting crypto entrepreneurs" [Online]. Available: https://www.lefigaro.fr/lite/actualite-france/2025/05/16/11002-20250516ARTFIG00785-interview-de-bruno-retailleau-la-france-lutte-contre-les-enlèvements-visant-les-entrepreneurs-de-cryptomonnaies.php [Accessed: 17 May 2025]
3.CNBC, 2025, "France takes tough stance against increase in cryptoasset-related kidnappings and extortion attempts" [Online]. Available: https://www.cnbc.com/2025/05/16/france-takes-tough-stance-against-increase-in-cryptoasset-related-kidnappings-and-extortion-attempts.html [Accessed: 17 May 2025]
4.RFI, 2025, "France intensifies efforts to combat crypto-related crime and protect the sector" [Online]. Available: https://www.rfi.fr/fr/economie/20250516-france-intensifie-ses-efforts-pour-combattre-le-crime-lie-aux-cryptomonnaies-et-proteger-le-secteur [Accessed: 17 May 2025]
5.Sud Ouest, 2025, "France aims to make the cryptocurrency sector a secure foundation for its economy" [Online]. Available: https://www.sudouest.fr/economie/375754-france-veut-faire-du-secteur-des-cryptomonnaies-une-base-solaire-de-sa-conomie [Accessed: 17 May 2025]*
Note: This translation has been kept the same length as the original text, preserving the same number of sentences and words while retaining the article's meaning and context.
Enrichment Data:
Overall: The French government is now implementing several urgent and specific actions to combat the surge in cryptoasset-related kidnappings and violence targeting crypto entrepreneurs and their families across the country. In response to increasing fears and threats to the sector's growth, authorities have coordinated a response spearheaded by the Ministry of the Interior under Minister Bruno Retailleau.
Key Measures Implemented:
- Dedicated Crisis Plan: A comprehensive emergency crisis plan is being launched to protect cryptocurrency entrepreneurs, focusing on breaking the climate of fear and insecurity that could hinder the crypto sector's advancement.
- Specialized Police Support: High-level police units are being made available to crypto firms and executives for real-time threat assessments and security consultations. This includes a priority emergency support line and assistance from dedicated experts, as well as regular meetings with the Minister.
- Secure Communication Lines: Encrypted and confidential communication channels are being established to allow affected parties to share sensitive information with authorities without jeopardizing their safety.
- Home Security Assessments: The government is conducting assessments of home security infrastructure for targeted individuals to strengthen their protection against potential threats.
- Training and Awareness: Law enforcement officers are receiving specialized training to understand the tactics and methods deployed by crypto-related kidnappers. This includes recognizing the use of social networks, conferences, and public appearances to identify potential victim, as well as the unique challenges posed by cryptocurrencies in these types of crimes.
Context and Rationale:
Since early 2025, France has seen a continued increase in violent attacks involving kidnapping attempts against crypto entrepreneurs and their relatives, some involving severe violence such as torture and even severing of fingers to extract ransom information. These crimes are inspired by similar incidents observed in other countries, with criminals targeting crypto assets as high-value ransom or loot[1][3].
The government's response recognizes the crucial role the crypto sector plays in France's financial ecosystem and the importance of ensuring its security to promote a safe and attractive environment for crypto investors and businesses. Strengthening security in the crypto sector is essential to prevent France from becoming a dangerous place for the crypto industry[3][5].
1. In the face of rising violence and kidnapping attempts in the crypto industry, other forms of protection will be necessary beyond traditional means.2. As politicians and law enforcement solidify their responses to the increased threats in the crypto world, the question of technology and its potential role in enhancing security becomes crucial, as both tools and strategies must evolve to meet these challenges.
