French police launched a weekend raid to rescue a man kidnapped in Paris in an attempt to extort a ransom from his crypto-millionaire son.
The Paris prosecutor’s office confirmed that the victim, whose identity was not released, was abducted Thursday morning in the city’s 14th arrondissement and later traced to a location in Essonne, south of Paris. Authorities raided the property on Saturday night, arresting five suspects in their 20s.
According to a police officer who spoke to AFP under anonymity, four masked men seized the victim in broad daylight, forcing him into a delivery van as bystanders watched.
Prosecutors said the motive was to pressure the man’s son, reportedly wealthy from cryptocurrency ventures, to pay a ransom. Though officials did not confirm the amount, Le Parisien reported that the kidnappers demanded between five and seven million euros. No ransom was paid before the rescue.
A source close to the investigation told AFP that one of the victim’s fingers had been severed and that police feared further mutilation had the raid not occurred. One of the suspects was arrested while driving a vehicle believed to have been used in the crime.
Interior Minister Bruno Retailleau praised the “decisive” operation in a statement posted to X. Authorities are investigating the suspects for multiple offences including conspiracy, kidnapping, torture, blackmail, and armed extortion. Anti-gang and cybercrime units are involved in the case.
The victim’s wife told investigators that both her husband and their son, who co-own a cryptocurrency marketing firm in Malta, had received threats in the past.
The abduction mirrors similar incidents involving figures linked to the cryptocurrency industry. In January, David Balland, co-founder of Ledger, a crypto firm valued at over $1 billion, was kidnapped along with his partner.
Balland’s finger was cut off, and his girlfriend was later found tied up in the trunk of a car. Nine suspects are under investigation in that case.
Also in January, a 56-year-old man, believed to be the father of a Dubai-based crypto influencer—was discovered in the trunk of a car near the city of Mans, with a ransom also demanded in that case.
