French police say they have rescued a 20-year-old Swiss citizen and detained seven suspects after a targeted operation in Valence. The hostage was found tied up in a house near the city’s high-speed train station during a raid involving 150 gendarmes.
Authorities describe the incident as part of a growing wave of violent, crypto-related kidnappings in France known as “wrench attacks”, in which perpetrators use physical violence to force victims to surrender private keys or transfer cryptocurrencies. Analyst Jameson Lopp has tracked at least 10 wrench attacks in France in 2025, nearly a quarter of the 48 incidents reported globally so far this year.
Recent cases in France have been particularly brutal. In January, kidnappers seized Ledger co-founder David Balland and severed a finger; in May a relative of a Malta-based crypto executive suffered similar violence; and in June authorities arrested an alleged mastermind, Badiss Mohamed Amide Bajjou, and charged 25 suspects linked to schemes that targeted executives’ families.
The threat is not confined to Europe. Criminal groups worldwide are exploiting the anonymity and portability of cryptocurrencies to extort large ransoms, with tragic outcomes in some cases, including murders and prolonged abductions across Asia and Latin America.
Security experts note many victims remain silent to avoid reputational harm or becoming repeat targets. The surge in wrench attacks highlights practical security risks for holders of digital assets: limit public exposure of holdings, consider robust custody and key-management solutions, and report threats immediately to authorities.
Source: Decrypt. Read the original coverage for full details.