A mother and her 11-year-old son were rescued by France’s elite GIGN unit after being kidnapped in a targeted ransom plot aimed at a family’s cryptocurrency holdings, authorities said.
The incident began Monday in Burgundy, when four attackers broke into the home of a crypto entrepreneur, tied up the father and forced him to reveal access details. The assailants seized about $17,800 (€10,000) in cash and valuables and threatened the father with mutilation. When they discovered the family’s crypto was locked in a time-locked wallet and could not be immediately accessed, the group abducted the woman and her child and demanded a $400,000 (€340,000) ransom.
French special forces located the victims in a hotel room in Val-de-Marne and carried out a rescue operation early Tuesday morning, around 6 a.m. The operation involved roughly 100 gendarmes, including members of the GIGN. Authorities report the mother and boy are in good health.
The case is the latest example of so-called “wrench attacks” — violent robberies and kidnappings in which perpetrators physically coerce wealthy crypto holders to hand over funds or keys. France has seen a string of such episodes over recent months, including the kidnapping of a magistrate for crypto ransom, a home invasion attempt targeting Binance France’s CEO, the abduction and mutilation of Ledger co‑founder David Balland, and attacks where assailants impersonated police to gain entry.
Investigators and policymakers say the problem has been amplified by recent data breaches and leaks that exposed the identities of crypto holders. French media reports said a jailed former tax agent who abused access to personal data had also researched cryptocurrency investors.
Officials are responding at multiple levels. Speaking at Paris Blockchain Week, French minister Jean‑Didier Berger said the government has launched a prevention platform and is taking “preventative measures” against wrench attacks. He and Interior Minister Laurent Nuñez are preparing a more detailed action plan to be announced in the coming weeks. The crypto industry is also moving to mitigate risk: a specialist insurer this month introduced a kidnap-and-ransom product tailored to digital-asset holders.
The rescue underscores both the growing physical risks faced by crypto entrepreneurs and the accelerating efforts by law enforcement, regulators and the industry to counter violent, targeted crimes against the sector.
Read more AI-generated news on: undefined/news
