Rise in Kidnappings Forces Crypto Leaders to Hire Bodyguards

A rising wave of kidnappings and ransom attempts is prompting cryptocurrency executives and investors to enhance their personal security, with France emerging as a hotspot for these alarming incidents.

Private security firms across Europe are witnessing a surge in demand for bodyguards and risk assessments, particularly from individuals connected to the crypto sector.

Amsterdam-based Infinite Risks International has reported a significant increase in long-term security service contracts, as concerns grow over the safety of high-profile figures in the industry.

French authorities have also responded to the uptick in violence with new measures aimed at protecting crypto entrepreneurs and their families. These include confidential security briefings, emergency access to law enforcement, and public awareness campaigns advising investors to minimize displays of wealth such as avoiding crypto-branded apparel that may attract unwanted attention, according to Cointelegraph.

The push for increased safety follows a string of harrowing incidents across the country.

In one of the most high-profile cases to date, David Balland, co-founder of the prominent hardware wallet company Ledger, was abducted in January 2025 and held for ransom. French police ultimately rescued him after several days in captivity.

Another disturbing case occurred in May 2024, when the father of a crypto entrepreneur was kidnapped by a criminal gang and held in a Paris suburb. Authorities intervened, freeing the victim after a violent ordeal that reportedly involved the mutilation of one of his fingers—a tactic echoed in other ransom attempts involving digital asset holders.

Most recently, on May 13, the family of Pierre Noizat, co-founder and CEO of French crypto exchange Paymium, was targeted in a broad-daylight attack. Masked assailants attempted to abduct Noizat’s daughter and grandson while they were walking in public. The attackers were repelled only after a physical struggle involving the victims and a bystander.

The brazenness of the attack shocked the crypto community and led France’s interior minister, Bruno Retailleau, to convene a crisis meeting with industry leaders. The discussions focused on enhancing security protocols and safeguarding individuals deemed at high risk due to their exposure in the digital finance sector.