France Intensifies Fight Against Crypto Kidnappings

French authorities are intensifying efforts to combat a sharp rise in cryptocurrency-linked kidnappings, with officials reporting 41 such cases so far this year, averaging one every 2.5 days. The surge has positioned France as Europe's primary hotspot for these violent extortion attempts, known as wrench attacks, prompting the Interior Ministry to launch new protective measures.

Speaking at Paris Blockchain Week in Paris, Jean-Didier Berger, a delegate minister at the Interior Ministry, announced the creation of a prevention platform for digital asset holders that has already attracted thousands of registrations. Berger stated that authorities are collaborating with Interior Minister Laurent Nuñez on a broader response plan to be implemented in the coming weeks, treating crypto-related crime as a physical security threat rather than solely a digital one. "France wants to be a crypto hub and must now police it," Berger said.

The incidents typically involve criminals targeting wealthy individuals or their families to coerce transfers of cryptocurrency from private wallets, bypassing online security through physical intimidation or abduction. According to data from cybersecurity...