Footage of foiled abduction triggers alerts on increasing Mexican-style perils in France
The chilling broad-daylight kidnabbing attempt in the heart of Paris has ignited calls for heightened security, following a surge in kidnappings of individuals with cryptocurrency assets in France.
This plea echoed after a failed kidnapping on a tranquil Parisian street, published online Tuesday, displayed three masked intruders physically confronting a couple on the sidewalk while the man frantically shouted, "au secours", help in French. Neighbors and passersby responded swiftly to the commotion, echoing the man's calls for help as the couple vigorously resisted their attackers' attempts to drag them into a van parked nearby.
A local shopkeeper from the vicinity, named Nabil, is being lauded as a neighborhood hero for intervening, armed with a fire extinguisher. In the chaos that ensued, the attackers abruptly abandoned their abduction attempt, fleeing in the getaway van. As they departed, a red can flew through the air, thrown by the determined man with the fire extinguisher.
Authorities recovered the abandoned van, discovering a BB gun inside. A probe and manhunt for the perpetrators has since been initiated.
The fortunate couple involved in the thwarted kidnapping attempt has not been named, but it was revealed that the woman is the 34-year-old daughter of the CEO and co-founder of Paymium, a prominent French cryptocurrency exchange platform, who was with her partner and child during the incident.
Nabil, the shopkeeper who came to the couple's aid, has gained widespread recognition for his quick thinking and bravery, telling Reuters, "I rushed over with that object, not knowing exactly what I was going to do with it. But I feel like it ended the altercation. So I achieved my goal."
Concerns regarding the security of individuals with cryptocurrency assets in France, however, remain unaddressed, according to critics. Doubts were raised shortly after the video was made public, with the business partner of a cryptocurrency firm chief executive who was abducted in January in the Gers region in southwestern France, posting a passionate appeal on social media platforms.
Eric Larchevêque, the business partner of David Balland, co-founder of the Ledger crypto firm, painted a dismal picture in his terse message, lamenting the "Mexicanisation" of France due to perceived law enforcement laxity. "For several months now, horrifying cases of kidnappings and attempted kidnappings have been multiplying. In broad daylight. In the heart of Paris. Before everyone's eyes," wrote Larchevêque.
Responding to these concerns, French Interior Minister Bruno Retailleau promised to meet with crypto industry professionals to address the issue of security and risk awareness. "I will assemble businesspeople working in cryptocurrencies, and we have a few of those in France, at the interior ministry to work with them on their security," Retailleau stated to Europe 1/CNews broadcaster.
Security experts argue that the concerns of crypto owners are warranted, as victim-blaming is prevalent in crimes targeting individuals who are perceived to have affluent lifestyles on social media. Meanwhile, the attackers are typically low-level criminals seeking easy fortunes, making errors in their line of work.
No boundaries, no authority, 'unending' vulnerability
The targeting of cryptocurrency leaders coincides with a rise in organized crime and a wave of prison attacks—allegedly orchestrated by narcotics kingpins—which has boosted support for the far-right in France.
On May 1, the father of a French crypto enthusiast was kidnapped for ransom and, after days of agonizing turmoil, was rescued by police—suffering the loss of a finger in the process.
The kidnappers targeted the victim, aiming to force their crypto-millionaire son, who resides in Dubai, to pay a ransom. Law enforcement arrested seven suspects following the raid to free the man.
This incident transpired months after the attack on David Balland, Ledger co-founder, who was kidnapped along with his wife. Balland endured the loss of a finger before he was eventually rescued.
"It's a sector where there are no rules, no authority. This freedom now comes at a price: isolation and fear," explained FRANCE 24 business correspondent Mounia Ben Aissa Kacem. "When you hold several million, or even billions, in a single digital wallet, you are totally vulnerable. Unlike a bank account, you can't stop payments on a crypto wallet. If you give up your security key, that's it. The funds disappear in just a few clicks - permanently," she added.
"That's precisely what exposes crypto bosses. Cryptocurrency is a captivating sector that inspires many dreams, not least the possibility of amassing a fortune very quickly," noted Ben Aissa Kacem.
False presumptions abound about the recent crypto-rich victims of these crimes, asserting that they are influencers who share their extravagant lifestyles on social media, said Renaud Lifchitz, a cybersecurity and cryptocurrency expert, during a discussion on the show "Economie".
However, this notion "is a preconceived idea," Lifchitz explained. "When you look at the profile of the latest victims, they were more business leaders than young influencers boasting about their cars on social media... The real problem isn’t the display, but the people we know who are rich because they’re entrepreneurs, because they’ve made a fortune, because they have a business."
Despite the sophisticated nature of the targeted cryptocurrency leaders, their attackers are primarily low-level criminals. "These are often very young people who are literally paid for their work," Lifchitz added. "They're really amateurs who make a lot of mistakes. As you can see in the video [of Tuesday's attack], they're disorganized, and they're easily foiled by objects—such as fire extinguishers."
The puppeteers behind such attacks are "a little more experienced," said Lifchitz. They often work remotely, making it difficult to locate them. They might even be incarcerated, as in the case of drug trafficking kingspin masterminds. Yet, while they may be older and more accomplished criminals, their counterparts involved in the attacks are typically less tech-savvy, believed Lifchitz.
"They make numerous mistakes," he said, commenting on the perpetrators' lack of expertise. "They requested payment in stable currency, typically dollar equivalents. These are currencies that can be frozen instantly."
Blockchains, which facilitate the exchange and mining of cryptocurrencies, are "not a panacea," said Lifchitz. "Because any cryptocurrency can be traced, and it operates on a public registry that is accessible to law enforcement agencies. So it's incredibly easy to trace these funds once they’re moved, exchanged, or even sold."
* Terms like arrondissement, which means district, were left untranslated to preserve the authenticity of the article.
- The failed kidnapping incident in Paris, involving a cryptocurrency asset owner, has brought attention to the need for security in the art, business, politics, and general-news sectors, as concerns over heightened crime and justice issues persist.
- The recent wave of targeted kidnapping attempts on cryptocurrency leaders in France, such as the attack on David Balland, co-founder of Ledger, foreshadows an unexpected intersection of the arts, business, politics, and crime-and-justice realms, raising questions about the sector's safety and the vulnerability of its leaders.
