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French police carried out a weekend raid to rescue a man who had been kidnapped in Paris in an attempt to force his cryptocurrency-millionaire son to pay a ransom, prosecutors said. Five individuals were arrested.
The man, whose identity has not been disclosed, was found at a property in Essonne, a department south of Paris, during a police operation late on Saturday, according to a statement from the prosecutors’ office.
He had been abducted on Thursday morning in the 14th arrondissement, in the south of the capital.
A police officer, speaking anonymously to AFP, said four masked men had forced him into a delivery van in full view of passers-by.
“The victim appears to be the father of a man who made a fortune in cryptocurrencies, and the crime involved a ransom demand,” the prosecutors stated.
Although officials did not confirm the amount requested, Le Parisien reported that the kidnappers had demanded between five and seven million euros (£4.3–£6 million). No payment was made.
A source close to the investigation revealed that one of the man’s fingers had been severed.
“There were concerns about further mutilations,” the source added, had police not intervened in time.
The number of suspects arrested rose to five after a new individual was detained while driving a vehicle believed to have been used in the crime. All suspects are reportedly in their twenties.
Interior Minister Bruno Retailleau praised the “decisive” police action in a post on X (formerly Twitter).
Blackmail, Torture, and Cybercrime
The victim’s wife informed investigators that both her husband and their son—owners of a cryptocurrency marketing company based in Malta—had previously received threats, a police source said.
Cybercrime and anti-gang units are investigating the suspects for conspiracy to commit unlawful detention, kidnapping, torture, blackmail, and armed extortion.
This incident bears similarities to a previous abduction on January 21, involving David Balland, a French crypto entrepreneur and co-founder of Ledger, a firm valued at over $1 billion.
Balland had one of his fingers severed by his captors, who had demanded a large ransom. He was freed the next day, and his partner was discovered tied up in the boot of a car in Essonne.
Nine people have been placed under criminal investigation in that case, including a 26-year-old man with a previous conviction for kidnapping.
In a separate January incident, a 56-year-old man was found locked in the boot of a car near Le Mans. Media reports suggested he was the father of a Dubai-based crypto-influencer known for flaunting his earnings online, and a ransom was likewise demanded.
