France Arrests Network Behind Wave of Crypto Kidnappings

France has experienced a significant rise in kidnappings targeting wealthy cryptocurrency executives and their families, a trend referred to as 'crypto kidnappings.' These abductions often involve extreme violence, including mutilation such as finger cutting, to coerce victims into providing access to their digital wallets for ransom payments in cryptocurrencies. French authorities have arrested several suspects involved in these crimes, including a major mastermind apprehended in Morocco, highlighting international cooperation to combat this organized criminal activity. The surge in such incidents has prompted urgent government meetings and new security measures, including enhanced police support and home security assessments for those in the crypto sector. High-profile victims like the co-founder of Ledger have been targeted, and in response, some in the crypto community, such as the Bitcoin Family, have overhauled their security protocols to protect their assets. These developments underscore growing concerns about the personal safety of crypto millionaires and the challenges posed by the largely unregulated and anonymous nature of cryptocurrency wealth.