A cryptocurrency content creator on TikTok was reportedly abducted in northern France last Friday but was freed soon after when the culprits found he didn’t have the cash they were chasing.
The 26-year-old social media figure, who regularly shares crypto-related posts to his audience of 40,000 followers, was allegedly taken while making his way home to Juvisy-sur-Orge, a town just outside Paris. According to French broadcaster Europe 1, the man was forced into a stolen Renault Clio by a group of four.
Image 1 (Source: Sky News)
Failed Extortion Attempt
Authorities believe the group intended to extort €50,000 worth of cryptocurrency from the victim, who they assumed was sitting on a goldmine. The kidnappers are said to have roughed him up during the ordeal, likely to put the frighteners on him and pressure him into transferring the money.
But the plan hit a dead end. Upon checking his digital wallet, the group realised they’d caught the wrong fish. His crypto balance couldn’t come close to covering their demands. With nothing left to gain, they abandoned their plot and let him go the next day.
As a result of the incident, medical professionals placed the man on a six-day medical leave, which in France comes with a certificate of temporary incapacity for work. The case is now in the hands of France’s Division for Organised and Specialised Crime, which has launched a formal investigation.
Growing Pattern of Crypto-Linked Kidnappings
This isn’t the first time French crypto figures have been caught in the crosshairs. The country has seen an uptick in kidnappings connected to digital assets, with several high-profile incidents recorded in recent months. These cases are becoming all too familiar, especially among entrepreneurs and families involved in the sector.
Back on 13 May, trouble came knocking for Pierre Noizat’s family, when a botched attempt was made to snatch both his daughter and grandson. Noizat, who wears the hat of CEO and co-founder at the French crypto platform Paymium, found his loved ones suddenly caught in the eye of a storm aimed squarely at digital asset insiders. While they managed to avoid harm, the attempt sent ripples through the crypto community.
Another serious case unfolded earlier in the same month, when the father of a crypto entrepreneur was held hostage for several days. According to reports, the victim had a finger severed during his captivity. The kidnappers had demanded €7 million in ransom. Paris police eventually intervened and secured the man’s release.
These incidents didn’t go unnoticed by the authorities. French Interior Minister Gérald Darmanin recently met with players in the local crypto industry to discuss increasing security concerns. The government is said to be watching the sector closely amid fears that criminals are deliberately targeting those believed to hold large sums of crypto.
Police Action Ramps Up
Efforts to tackle the trend appear to be gathering pace. On 4 June, a key suspect linked to a string of recent crypto-related abductions was arrested in Morocco, as confirmed by law enforcement sources.
Just days earlier, on 31 May, prosecutors in Paris formally charged 25 individuals for alleged involvement in a series of organised plots that targeted several crypto professionals and their relatives. These charges suggest the crimes are not isolated, but rather part of a broader, coordinated effort to exploit people associated with digital wealth.
France 24, a public media outlet, also reported that additional arrests have followed as police dig deeper into the criminal networks behind these offences. While the investigations are ongoing, authorities have warned that further developments are likely.
Image 2 (Source: TechCentral)
Crypto Wealth Makes for a Shiny Target
Experts say the core problem lies in the nature of crypto assets themselves. Digital currencies can be transferred instantly, often without passing through banks or authorities. Once transferred, the funds can be hard to trace or recover. That makes crypto an ideal tool for criminals looking to make a quick getaway.
Many individuals working in or around the crypto space have built reputations online, sometimes sharing their success or lifestyle. While these posts can grow followers, they can also draw the wrong kind of attention. The recent incidents have made it clear that flaunting digital riches can be like waving a red flag to a bull.
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In the case of the TikTok trader, the kidnappers expected him to be a digital high roller. Instead, he turned out to be light in the pocket. His release might have come as a relief, but it’s also a stark reminder that being visible in this space can carry serious risks.
Security specialists now recommend that crypto holders, particularly public figures and influencers, take extra care to avoid becoming easy prey. While crypto may offer financial freedom, it also comes with its fair share of risks, especially when criminals come knocking.
