Investor at Paymium, whose child was rescued from an abduction in Paris, criticizes the "lack of action" by politicians in the cryptocurrency sector.
Crypto Threats on the Rise: A Chilling Tale of Kidnappings in the Heart of Paris
In a shocking turn of events, the daughter of a prominent bitcoin investor narrowly escaped a daylight kidnapping attempt in Paris on May 13th. As the dust settles, her father has broken his silence, slamming authorities for inaction and putting pressure on the justice system.
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Amidst the growing menace of organized crime, cryptocurrency investors and experts have become prime targets. This unsettling reality was first glimpsed in mid-January when David Balland, co-founder of Ledger, was kidnapped and held for over 24 hours before his release, with the kidnappers demanding a cryptocurrency ransom. Earlier this May, another high-profile case of a businessman's kidnapping followed, while a failed attempt was made on a young woman in the bustling 11th arrondissement of Paris.
Crypto: A Predictable Consequence of Unregulated Wealth?
Pierre Noizat, president and co-founder of the cryptocurrency platform Paymium, is far from surprised by the latest escalation of events. Speaking to BFMTV, he stated, "We've been aware of the risks since the beginning of the crypto era." Despite his calm demeanor, he emphasized, "We're not naïve about the risks, but anything but terrified."
No signs of impending danger have been detected, yet, Noizat says.
The Fear of Justice System's Indolence
Armed with firsthand experience, Noizat has taken his concerns to Interior Minister Bruno Retailleau. He accuses politicians of playing a dangerous game of inaction. "We have politicians who are playing a game of inaction," he lamented. A continuation of the investigation has been handed over to the Brigade de répression du banditisme (BRB), but Noizat is already apprehensive about the outcome, expressing worries about the potential leniency of the judges involved.
Ledger: Ghostly Shadows over Clients' Hacked Data
In the chaos that ensued after the failed kidnapping, questions about the safety of client data stored on cryptocurrency platforms have resurfaced. Noizat, however, seems confident in the security measures of his platform, praising the neighbors who intervened with remarkable bravery.
Crypto: A Dangerous Game of Cats and Mice
The kidnapping of influential figures like Eric Larcheveque, co-founder of Ledger, underscores the escalating challenge posed by organized crime. Noizat expresses concern about France's becoming a "Mexicanized" nation, signifying the increasing infiltration of criminal activities. While the true nature of the threat remains elusive, one thing is certain: the waters are growing choppy for cryptocurrency investors and experts.
Crypto: The Unquenchable Thirst for Control
The kidnapping attempt on the young woman highlights how even the most seemingly ordinary individuals can become targets. Despite being equipped with cutting-edge technology and vast fortunes, crypto investors face a chilling reminder that their newfound wealth not only attracts fortune but also malicious intent.
Digging Deeper:
Organized crime groups are increasingly using cryptocurrency to facilitate their illicit activities, thanks to the speed and perceived anonymity of crypto transactions.[1][2] Traditional organized crime groups are targeting cryptocurrency investors and specialists, primarily those identified as holding significant crypto assets.[1][2] These organized crime groups employ sophisticated, coordinated methods such as surveillance, home invasions, and intelligence gathering to steal cryptocurrency.[2] Recent high-profile cases indicate the global scale and complexity of these operations, with incidents being reported in various countries, including the U.S. and Europe.[1][2]
Sources:
- Carbonell, F., & Briody, L. (2021). Cryptocurrency was meant to be a haven. And it might be, but it's also a playground for criminals_. Retrieved from https://www.forbes.com/sites/forbesfinancecouncil/2021/05/26/cryptocurrency-was-meant-to-be-a-havenand-it-might-be-but-its-also-a-playground-for-criminals/?sh=7014748f5399
- Le Bon, A. (2021). Threat landscape assessment: Cryptojacking. Retrieved from https://www.fireeye.com/content/dam/fireeye-www/assets/threat-intelligence/otx/pdf/2020otx1-threat-landscape-assessment-cryptojacking-fireeye.pdf
- In light of the escalating threats to cryptocurrency investors, trade union leaders in the tech sector have expressed concerns and called for stricter regulations to protect their members.
- With organized crime groups increasingly turning towards cryptocurrencies for illicit activities, the politics surrounding the regulation of these digital assets have taken on a new urgency, featuring prominently in general-news discussions.
