The Disturbing Phenomenon of Bitcoin Billionaire Kidnappings

The reported cases are becoming so numerous that it is no longer an exaggeration to speak of a real phenomenon. There have been about ten attempted kidnappings of entrepreneurs operating in the cryptocurrency world in recent months. Three of these in France, between January and May 2025.

The latest in Paris, where a van stopped on the streets of the 11th arrondissement and some men tried to drag the daughter and two-year-old grandson of Pierre Noizat, co-founder of the Paymium platform. A spectacular attempt, failed, but which has brought the spotlight back on an increasingly frequent threat.

Why are crypto entrepreneurs in the crosshairs?

The French authorities are the most active in following the evolution of the phenomenon. The investigators' hypothesis is that behind it there are criminal organizations attracted by the anonymity of cryptocurrencies and the difficulty in tracking transactions.

Paris, three men try to kidnap the daughter of a cryptocurrency magnate in the city center

As Le Monde reports, Interior Minister Bruno Retailleau has announced new measures to protect entrepreneurs in the sector and strengthen collaboration between law enforcement and the crypto community.

France as epicenter: three cases in five months

The enormous popularity achieved by the world of cryptocurrencies, capable of creating a new class of billionaires in a few years, has attracted the attention of organized crime. If digital assets were initially used for money laundering, they are now becoming the real target of seizures.

In early May 2025, the father of another French entrepreneur in the sector was kidnapped in the 14th arrondissement of Paris. The man, in his sixties, was held for two days. He had a finger amputated to force his son to pay the ransom. Investigators are convinced that, without the intervention of the special forces, he would have suffered further mutilations. Five young people were arrested. They had asked for a ransom of 7 million euros, according to Le Parisien .

Even earlier, on January 21, in Méreau, a small town in the central Loire, David Balland, co-founder of Ledger, and his wife were kidnapped and tortured. The kidnappers demanded 10 million euros in cryptocurrencies, sending a severed finger as evidence. In this case too, the intervention of special forces allowed the couple to be freed. Ten were arrested.

Cases in the world: Canada, Estonia, Spain, USA

But it’s not just France that’s being hit by the phenomenon. In Canada , in Toronto , last November, Dean Skurka, CEO of WonderFi, was kidnapped and forced to transfer $1 million in cryptocurrencies to secure his release.

Three months earlier, in Tallinn , Estonia , Tim Heath, an Australian billionaire and founder of Yolo Group, foiled a kidnapping attempt in his apartment. The attackers, disguised as painters, were identified thanks to surveillance cameras. Similar cases have also been reported in Spain , Belgium and Ukraine , as the Guardian recalls.

On May 10, three teenagers were accused of kidnapping a man at gunpoint in Las Vegas. The man had just left a cryptocurrency celebration event. They waited for him, stopped him, forced him into their car and robbed him of $4 million in cryptocurrencies, forcing him to hand over his passwords and wallet access. According to the police, the incident occurred last November. The story was reported by the industry portal Cointelegraph, which is particularly careful to track all the episodes and report the phenomenon.

Italy grazed, but anomalous episode

In part, the phenomenon has also touched Italy, although in less violent ways and without involving entrepreneurs in the sector. In 2023, in Rivoli , an entrepreneur was approached by two men who demanded the delivery of a USB stick containing, according to them, one million euros in Bitcoin. It is not clear why they were convinced that he had it in his possession, but they threatened to kill him to obtain it. The two were arrested after the complaint.