On New Year's Eve, a new story of kidnapping with demand for crypto ransom took place. To target an influencer living in Dubai, the criminals did not hesitate to kidnap his father, beat him up and douse him with gasoline. Are crimes targeting cryptocurrency holders exploding?
on January 3, 2025 at 4:30 p.m.
50-year-old man found in trunk of car
On the night of January 1st to 2nd, men from the anti-crime brigade (BAC) noticed 2 hooded individuals aboard a car in a service station near Le Mans, according to France Bleue Normandie.
When they intercepted the car, the two suspects fled. The BAC police officers then decided to inspect the vehicle and heard cries for help from the trunk. Inside, they discovered a 56-year-old man, tied up, beaten and doused with gasoline.
The story goes back 1 day earlier and 500km further, on New Year's Eve in Saint-Genis-Pouilly (Ain). The fifty-year-old was then with his family to celebrate the new year. It was at this moment that 2 criminals broke into the home, tied up the woman and the daughter before fleeing with the father.
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Behind this sordid story, there is yet another attempted extortion linked to cryptocurrencies. The son of this family is a crypto influencer residing in Dubai. We all know influencers like this who abound on social media: lavish lifestyles, beautiful cars and wads of cash. Enough to attract jealousy.
After kidnapping his father, the criminals contacted the son in Dubai to extort the money from him. The latter immediately notified the police who were able to free his sister and mother, before finding his father 500km from his home in the trunk of a car, disoriented but out of danger. The 2 suspects are still on the run at this time.
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Crypto ransom demands, a growing phenomenon
The men and women who work in this sector are even more likely to be kidnapped for ransom. that cryptocurrencies are the object of all fantasies. In addition, the criminals know that crypto can be transferred from one end of the world to the other: if they cannot rob luxury cars in Dubai, they can receive the crypto on a wallet from France.
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An entrepreneur had experienced a similar story just a fortnight ago, when his wife was kidnapped with a crypto ransom demand. Stéphanie Winkel immediately contacted the police who were able to arrest the suspects and free her wife. Europe is not the only continent concerned since a CEO was also kidnapped with a cryptocurrency ransom demand in Canada at the beginning of November.
To reduce the risks, criminals should be educated, reminding them that cryptocurrencies are poor tools when it comes to disappearing with loot. Transactions are public and many companies specializing in crypto tracing can very easily find stolen funds.
These cases remind us that security is one of the most sensitive points in the world of blockchainwhether it is hacks worth several hundred million on DeFi protocols, scams and rug sweater organized by criminals or physical attacks like here.
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Cryptocurrency expert, Marc-Antoine began his journey in Web 3 alongside David Prinçay (current president of Binance France) in the French Cryptocurrency Club. Since then, it is by writing articles in the best-known crypto media in France that he has spread the good word. If you've read an article about crypto, there's a good chance you've read one of his articles. NFT, Blockchain, Web 3, DeFi, there is not a sector that is foreign to it. And don't ask him what the next coin to buy is: it's a maximalist Bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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