France is facing increasing pressure to enhance security measures for cryptocurrency businesses, following a violent attempted kidnapping targeting the daughter and grandson of the Paymium cryptocurrency platform’s CEO in Paris.
Paymium has called on authorities to urgently implement protections for individuals working within the cryptocurrency sector.
French Interior Minister Bruno Retailleau announced plans to meet with industry professionals later this week to discuss strategies for preventing future kidnappings and increasing awareness of the associated risks.
He stated his intention to convene cryptocurrency business leaders at the interior ministry to collaborate on their security.
The incident on Tuesday involved four masked men attacking a couple and their child in Paris’s 11th district.
The victims, including the daughter and grandson of a French cryptocurrency entrepreneur (later identified as the CEO and co-founder of Paymium), sustained minor injuries and were hospitalised.
Paymium, expressing deep sorrow over the event, welcomed the interior minister’s initiative and demanded “immediate protection” against such attacks.
The company also emphasised the crucial role of the media and politicians in shaping public understanding of cryptocurrency, warning that misconceptions about wealth and criminal associations can fuel misinformation and create an unsafe environment.
This attempted kidnapping follows other violent incidents targeting individuals in the cryptocurrency space in France.
In January, David Balland, co-founder of the Ledger crypto firm, was kidnapped and had a finger cut off by his abductors.
At least nine suspects have been arrested in that case. Additionally, in May, a man was kidnapped to coerce his crypto-millionaire son into paying a ransom, leading to the arrest of seven people in a police raid.
Interior Minister Retailleau stressed the need for collective action to protect cryptocurrency businesspeople and their families while also vowing to find the perpetrators of these crimes, potentially even internationally.
Officials have scheduled the interior ministry meeting for Friday.