An Abduction in Paris Reveals the Growing Threat of Crypto-Violence

Previously, the biggest risk facing wealthy crypto investors was online, as hackers and cybercriminals ransacked the internet for virtual wallets.  This caused many wealthy crypto holders to move their assets offline, believing that storing crypto physically, through USB drives or other means would be safer—akin to traditional approaches to stashing precious items and cash.

This perception turned out to be false and, for some notable figures, a dangerous mistake to make.

Under the mattress

“A lot of people are getting to the hide-your-gold-under-the-mattress level of security,” said Jameson Lopp, the co-founder of bitcoin security company Casa. “But if you are a high-profile person…that’s when you have to worry about the physical attack.”

Gangs in recent weeks have moved their activities into the physical world, going after wealthy crypto investors in a recent spate of abductions and attacks that have rattled the industry and some of its principal asset owners. 

Many of these attacks have ended violently, with criminals in one particularly gruesome incident severing the finger of French crypto investor David Balland in January 2025 after the group’s ransom demands were not met within a specific time frame.

Severed fingers

Balland, who co-founded crypto software firm Ledger, valued at more than $1 billion, was freed while his girlfriend was discovered tied up in the boot (trunk) of a car in a Parisien suburb.

Another incident in early May saw the father of a crypto-millionaire rescued by French police in a southern district of the capital after kidnappers chopped off one of his fingers in an attempt to force a ransom from his son. 

Indeed, police agencies and governments around the world have reported dozens of crypto-related attacks, kidnappings, and physical threats in what experts have cited as an alarming trend. 

Less boasting

It’s not yet clear whether the publicity is fundamentally changing the digital asset sector, however, the attacks may already be deterring investors and public figures from openly discussing their holdings and whether less boasting on social media will influence crypto’s popularity and asset prices.

In any case, the spate of violence serves as a cautionary tale that the crypto wealthy are not immune to the same risks and security threats that the conventionally wealthy have always faced.