France's Crypto "Wrench Attack" Escalates: Teenagers Involved in Kidnapping Extortion, Bitcoin Holders' Safety Concerns Intensify

Gate News Report, March 19 — Recent violent crimes related to cryptocurrencies in France have been on the rise. A kidnapping case targeting a family of crypto influencers has once again raised concerns about the personal safety of digital asset holders. Police stated that a 56-year-old man was attacked in Saint-Genis-Pouilly, France, doused with gasoline, and forcibly kidnapped along with his partner. The suspect demanded ransom from his son, who is involved in overseas crypto business.

According to investigations, the incident occurred on December 31, 2024. The criminal gang members ranged in age from 16 to 42 and are part of an organized crime network. Authorities have launched multiple arrest operations across various regions, currently detaining five suspects on charges including kidnapping, illegal detention, and extortion. The victim was later found about 700 kilometers from the scene, and his partner was also rescued.

Such cases are referred to within the industry as “wrench attacks,” where violence or threats are used to force crypto asset owners to surrender private keys or transfer assets. Security expert Jameson Lopp reported that at least seven similar incidents occurred in March 2026 alone, showing a clear upward trend.

French law enforcement noted that these crimes often involve cross-border organized groups, with some cases possibly controlled by overseas entities. Recently, police deployed large-scale forces around Paris to pursue suspects involved in home burglaries and bomb threats. Meanwhile, an attempted break-in at the residence of a Bitcoin-related executive in Nantes was foiled when the alarm was triggered, causing the suspect to flee.

Analysts believe that as the prices of digital assets like Bitcoin fluctuate more wildly and holdings increase, the “traceability and irreversibility” of crypto wealth are becoming targets for criminals. Strengthening personal asset security and preventing offline risks have become critical issues for crypto users.