25 suspects in crypto kidnapping plots face judges in France

PARIS (AFP) — Twenty-five people on Friday were appearing before French investigating judges as part of several probes into a spate of kidnapping plots targeting cryptocurrency entrepreneurs, prosecutors said.

This week authorities said they had foiled a new abduction attempt in the western city of Nantes, and detained more than 20 people over that attempt and another against crypto boss Pierre Noizat’s pregnant daughter and young grandson.

Several of the 25 suspects were charged on Friday, with judges expected to decide whether they will be remanded in custody.

They are implicated in particular in the attack in mid-May on the family of Noizat, the CEO and co-founder of Paymium, a French cryptocurrency exchange platform.

They were also set to be questioned about their roles in “other unsuccessful projects,” with a view to their possible indictment for criminal conspiracy, the Paris prosecutor’s office said.

At least four are suspected of having plotted a kidnapping near Nantes on Monday, according to a source close to the case. The plan was foiled at the last minute.

Authorities identified those suspects because they were using the same vehicle as the assailants who attempted to kidnap Noizat’s family, said another source close to the case.

These two cases also have links to the May 1 abduction of a crypto-millionaire’s father, who was later rescued by police, a source close to the investigation said this week.

Among those arrested so far are those involved in carrying out the abductions and more senior figures involved in logistics, according to sources close to the case.

Connecting the dots

The kidnappings and abduction attempts have become a major embarrassment for the French government and have sparked concern about the security of wealthy crypto tycoons, who have notched up immense fortunes from the booming business.

One prominent cryptocurrency entrepreneur has urged authorities to “stop the Mexicanization of France.”

In footage of one attempted abduction that went viral on social media, four masked men attacked the daughter of Noizat as well as her husband and their child in the French capital’s hip 11th district in mid-May.

All three suffered light injuries and were taken to hospital.

Noizat later praised his “heroic” son-in-law and a man who used a red fire extinguisher to fend off the attackers.

According to a source close to the case, it was while investigating the abduction attempt that targeted Noizat’s family that the police discovered the new plot near Nantes.

The spate of abductions began in January, when kidnappers seized French crypto boss David Balland and his partner. Balland co-founded the crypto firm Ledger, valued at the time at more than $1 billion.

Balland’s finger was cut off by his kidnappers, who had demanded a hefty ransom. He was freed the next day, and his girlfriend was found tied up in the trunk of a car outside Paris.

In mid-May, Interior Minister Bruno Retailleau held an emergency meeting with cryptocurrency leaders, with the ministry announcing plans to bolster their security.

—

By Agence France-Presse