Paris Man Robbed of €2M in Bitcoin Following Violent KidnappingCrypto Crime in Paris on the Rise

A violent attack in central Paris has left a man without a hard drive containing €2 million worth of Bitcoin.

The incident, which took place on Tuesday evening, August 5, is the latest in a growing pattern of crypto-related crimes in France.

Details Of The Attack

According to local media reports, the incident began at around 7:15 p.m. at the Peninsula Hotel, a luxury establishment located on Avenue Kléber in Paris’s 16th arrondissement. Hotel staff alerted the police after witnessing five unknown men approach one of their guests and demand, “Give us 400,000 euros, and it’s over.” The victim was then forcibly taken from the hotel to an area near the Arc de Triomphe, where he was physically assaulted.

Officers from the anti-crime brigade quickly responded and arrested all five suspects in the 8th arrondissement. Initial investigations revealed that the group may be connected to a nearby nightclub, where the victim allegedly owed €40,000. Police believes the suspects were attempting to collect that debt by force.

The victim was briefly interviewed by authorities and said he had been beaten and threatened. He reported that the attackers took his iPhone 13 Pro Max and a hard drive containing Bitcoin worth around €2 million. He added that a previous incident had occurred the week before, during which the same individuals had displayed a weapon.

The suspects were taken into custody at the First District Police headquarters for extortion. During the night, investigators from the Anti-Banditism Brigade took over the case. The Paris prosecutor’s office confirmed that five people were in custody and that investigations and hearings are ongoing.

Crypto Crime in Paris on the Rise

This isn’t the first time Paris has made the headlines for crypto-related crime. The country has endured a series of violent kidnappings targeting individuals in the industry. The most recent case happened in May and involved a failed attempt by a masked gang to abduct relatives of the co-founder of French Bitcoin exchange Paynium. Twenty five suspects were later indicted for the failed abduction.

Another incident saw the father of a crypto millionaire being hijacked while walking their dog. David Balland, co-founder of Ledger, and his wife were also taken from their home in France in January, with French special forces rescuing the couple after a 58-hour ordeal. The operation led to multiple arrests, including individuals with prior crypto-related convictions. Both cases involved a ransom demand, with the victims being released with missing fingers.