France Emerges as Global Epicenter for Cryptocurrency-Related Kidnappings

France, traditionally celebrated for its cultural landmarks and haute couture, now faces an unwelcome distinction: becoming the world's leading hotspot for cryptocurrency-linked abductions. As digital asset ownership expands globally, the country has witnessed an alarming surge in so-called "wrench attacks"—physical assaults designed to forcibly extract cryptocurrency from victims.

Disturbing Statistics Define New Criminal Trend

According to a recent special report by WION's Gravitas program, France recorded 19 wrench attacks in 2025, surpassing all other nations worldwide. The trend has continued unabated into 2026, with six additional cases already documented this year, cementing the country's troubling position as the global center for this emerging criminal enterprise.

These incidents involve criminals using physical violence, threats, or kidnapping to compel victims into transferring their digital holdings—attacks that have grown increasingly sophisticated and brutal.

High-Profile Cases Illustrate Growing Threat

The severity of France's crypto-kidnapping crisis became evident through several high-profile incidents this year. In early February, David Prinçay, CEO of Binance France, was targeted in a botched home invasion in Val-de-Marne. According to local authorities, three armed and masked assailants broke into a residential building around 7:00 a.m. on February 12, attempting to locate the cryptocurrency executive.

Another case involved the abduction of a 35-year-old magistrate whose partner worked with a cryptocurrency startup. The kidnappers sent the partner a photograph of the magistrate alongside threats of mutilation unless a cryptocurrency ransom was paid. The victim and her elderly mother were held captive for 30 hours in a garage in France's Drôme region before a neighbor heard disturbances and facilitated their escape.

French police mobilized approximately 160 officers in a multi-agency operation that ultimately resulted in six arrests. Notably, no ransom was paid in this case.

Data Breaches Fuel Criminal Activity

Multiple factors contribute to France's crypto-kidnapping epidemic, with data breaches playing a central role. In June 2025, French media revealed that a tax agency employee had systematically leaked information about cryptocurrency investors to criminal networks.

The situation deteriorated further in January 2026 when Waltio, a cryptocurrency tax reporting service, suffered a major security breach. Hackers gained access to personal information belonging to 50,000 customers, including email addresses and complete 2024 tax documentation—creating a potential target list for criminals.

"As cryptocurrency adoption grows and more value is held directly by individuals, criminals are increasingly incentivised to bypass technical defenses altogether and target people instead," explained Ari Redbord, Global Head of Policy at TRM Labs.

A Growing Global Problem

While France represents the most acute concentration of attacks, wrench attacks have increased 75% year-over-year globally since 2024. Worldwide, approximately 25 kidnappings and three murders related to cryptocurrency theft have been recorded, resulting in losses exceeding $40 million.

Europe accounts for nearly 40% of all documented incidents, with France significantly outpacing other nations. Investigators have discovered that many perpetrators are minors or young adults recruited through messaging platforms like Telegram, often compensated with relatively small payments to execute these violent crimes.

Calls for Stronger Legal Deterrents

A particularly concerning aspect of this crime wave is the absence of convictions despite numerous arrests. Security experts believe this lack of judicial consequences undermines deterrence, emboldening additional criminal activity.

The escalating crisis has intensified pressure on French authorities to implement harsher penalties for convicted offenders and establish more robust protections for cryptocurrency holders. Many crypto investors have responded by investing in enhanced personal security measures, particularly when traveling to or within France.

As digital asset adoption continues expanding, France's struggle with crypto-related violence serves as a cautionary tale for other nations, highlighting the urgent need for coordinated responses addressing both cybersecurity vulnerabilities and physical safety concerns.

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Coinasity's Take

France's emergence as the global leader in cryptocurrency kidnappings represents a critical inflection point for the digital asset industry. The convergence of systemic data breaches, inadequate legal deterrents, and rising crypto adoption has created a perfect storm for violent crime. The lack of convictions despite multiple arrests signals a fundamental failure in the judicial response that must be addressed immediately. Until France implements meaningful security reforms and establishes serious consequences for perpetrators, crypto holders in the region face unacceptable risks. This crisis underscores a broader industry challenge: as cryptocurrency becomes mainstream, protecting holders requires not just technological solutions but comprehensive physical security frameworks and regulatory cooperation.