French law enforcement has reported a dramatic and violent trend targeting cryptocurrency holders, with more than 40 organized kidnappings linked to crypto motives occurring between July 2023 and December 2025. A confidential report from the Judicial Police's Organized Crime Information, Intelligence and Strategic Analysis Service (SIRASCO), obtained by Franceinfo, details that these crimes are typically orchestrated by organizers based abroad who coordinate with local recruiters in France.
The recruiters often connect the foreign organizers with young individuals, aged 16 to 23, who have criminal records to carry out the attacks. The primary victims are men between the ages of 20 and 35 who are involved in digital assets as investors, entrepreneurs, or influencers. Many are targeted after displaying wealth on social media, allowing kidnappers to monitor their routines and families.
These violent incidents, termed "wrench attacks," involve using physical force, intimidation, or confinement to coerce victims into surrendering private keys or passwords. Blockchain security firm CertiK documented a 75% year-on-year increase in such attacks globally in 2025, with 72 confirmed incidents leading to documented losses exceeding $40.9 million. Within this category, kidnappings rose by 66%, and physical assaults surged by a staggering 250%.
Europe accounted for over 40% of all global instances, with France being a particular hotspot, recording 19 attacks—far more than the United States. A high-profile case involved the January 2025 kidnapping of Ledger co-founder David Balland and his wife, where kidnappers cut off a finger and demanded a €10 million crypto ransom.
The trend has accelerated into early 2026, with France witnessing at least eight crypto-linked kidnappings by mid-February. This includes a foiled home invasion on February 12 targeting the leadership of Binance France in Val-de-Marne, where armed men were apprehended. Investigators link the worsening situation to factors like data leaks, including a 2025 hack of French tax platform Waltio, which exposed user data allegedly connected to several kidnappings.
Security experts warn that these attacks represent a "structural threat" to digital asset ownership, highlighting physical risks beyond online threats. Recommendations for users include increased online caution, using hardware wallets, setting up multi-signature accounts, and avoiding public displays of wealth.
