French police have arrested over 20 people in connection with a series of kidnapping plots targeting cryptocurrency entrepreneurs and their families. The arrests are linked to two recent abduction attempts, one in Nantes and another in Paris in May.
According to authorities, the kidnappings were aimed at extorting ransom payments from those with significant cryptocurrency fortunes. French Interior Minister Bruno Retailleau has vowed to increase security measures for crypto executives and their families.
The investigation follows several recent incidents of kidnapping or attempted kidnapping, including a case in which a father was bundled into a van by men wearing balaclavas in Paris, who demanded a €5-7m ransom. Another incident involved the kidnapping of Ledger co-founder David Balland with his wife, demanding a €10m ransom.
Retailleau has promised to mobilize all state resources to track down the perpetrators and put an end to the violence. The arrests are part of an ongoing effort to enhance security for those in the cryptocurrency sector.
Source: https://www.bbc.com/news/articles/clyz4rkxrwxo