France to Step Up Security for Crypto Executives
The government of France is stepping up security for high-profile figures in the cryptocurrency sector amid a rise in violent attacks and kidnappings. Interior Minister Bruno Retailleau announced on Friday, May 16, that the government will implement special protection for crypto entrepreneurs and their families.
The move follows a series of violent attacks on prominent players in France’s nascent crypto economy. Retailleau said the measures are both immediate and long-term and aim to “prevent, dissuade and hinder” these types of attacks.
Violent Attacks Spark Nationwide Concern
The rush is prompted by a series of harrowing events, the most recent being a kidnapping attempt in central Paris. Masked individuals tried to kidnap the daughter of Paymium crypto exchange CEO and founder Pierre Noizat.
This follows the recent kidnapping of Ledger co-founder David Balland this year. A ransomware gang abducted Balland and his wife, requesting cryptocurrency as ransom. Balland was badly hurt, including finger mutilation, before a police rescue operation rescued them. Ten individuals were arrested in connection with the incident.
Government Meets with Industry Leaders
The minister’s announcement came after an emergency meeting Retailleau held with representatives of leading crypto companies, including Éric Larchevêque, the second co-founder of Ledger.
“These repeated kidnappings of professionals in the crypto sector will be fought with dedicated tools,” Retailleau said, noting that preventive and dissuasive measures would be implemented to shield industry players from organized crime.
France Identified as a Kidnapping Hotspot
Larchevêque stated that the cryptocurrency industry saw roughly 50 attacks altogether worldwide in the past year, and France accounted for more than 25% of them—14 instances. He referred to the country as the “ground zero” for such crimes, pointing out the urgent need for global coordination and better security infrastructure.
Larchevêque praised the government’s recent engagement but warned that more, overt protection is needed. “This is not a local issue—it’s an international security crisis,” he said.
Mounting Crypto Threats Demand Proactive Reaction
As France acts to restore confidence and protect an industry vital to its digital economy, the response may create a precedent for other nations under similar assault. The intensification of crypto-targeted brutality highlights the growing intersection of financial innovation and physical security threat.
With top executives coming under growing targeting, France’s action could also offer a model for broader global efforts to secure the fast-emerging crypto sector.
