Yikes
We have reached the “severed fingers and abductions” stage of the crypto revolution
Wave of crypto abductions hits Europe.
Nate Anderson
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May 7, 2025 4:01 pm
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French gendarmes have been busy policing crypto crimes, but these aren't the usual financial schemes, cons, and HODL! shenanigans one usually reads about. No, these crimes involve abductions, (multiple) severed fingers, and (multiple) people rescued from the trunks of cars—once after being doused with gasoline.
This previous weekend was particularly nuts, with an older gentleman snatched from the streets of Paris' 14th arrondissement on May 1 by men in ski masks. The 14th is a pleasant place—I highly recommend a visit to the catacombs in Place Denfert-Rochereau—and not usually the site of snatch-and-grab operations. The abducted man was apparently the father of someone who had made a packet in crypto. The kidnappers demanded a multimillion-euro ransom from the man's son.
According to Le Monde, the abducted father was taken to a house in a Parisian suburb, where one of the father's fingers was cut off in the course of ransom negotiations. Police feared "other mutilations" if they were unable to find the man, but they did locate and raid the house this weekend, arresting five people in their 20s. (According to the BBC, French police used "phone signals" to locate the house.)
Sounds crazy, but this was the second such incident this year. In January, crypto maven David Balland was also abducted along with his partner on January 21. Balland was taken to a house, where he also had a finger cut off. According to The Guardian, "Police were contacted by Balland’s business partner, who received a video of the finger alongside a demand for a large ransom in cryptocurrency, of around €10m. Balland was freed in a police raid soon after. His partner was found tied up in the boot of a car in a carpark in the Essonne area south of Paris the next day."
And a few weeks before that, attackers went to the home of someone whose son was a "crypto-influencer based in Dubai." At the father's home, the kidnappers "tied up [the father's] wife and daughter and forced him into a car. The man’s influencer son received a ransom demand and contacted police. The two women were then quickly freed. The father was only discovered 24 hours later in the boot of a car in Normandy, tied up and showing signs of physical violence, having been sprinkled with petrol."
It's not just France, either. Early this year, three British men kidnapped another British man while all of them were in Spain; the kidnappers demanded 30,000 euros in crypto "or be tortured and killed." The kidnapped man escaped by jumping off a balcony 30 feet high, breaking both ankles.
Or there's the Belgian man who posted online that "his crypto wallet was now worth €1.6 million." His wife was the victim of an attempted abduction within weeks.
Similar things are happening in the US, too. I reported last year on a gang based out of Florida that had been staging home invasions of people perceived to own lots of crypto. One of their hits took place in Durham, North Carolina. Here's a snippet:
The next morning at 7:30 am, St. Felix and Castro rolled up to the Wells Street home once more. Instead of surveilling it from down the block, they knocked on the door. The husband answered. The men told him some story involving necessary pipe inspections. They wandered around the home for a few minutes, then knocked on the front door again.
But this time, when the wife answered, St. Felix and Castro were wearing ski masks and sunglasses—and they had handguns. They pushed their way inside. The woman screamed, and her husband came in from the kitchen to see them all fighting. The intruders punched the husband in the face and zip-tied the hands and feet of both homeowners.
Castro dragged the wife by her legs down the hallway and into the bathroom. He stood guard over her, wielding his distinctive pink revolver.
In the meantime, St. Felix had marched the husband at gunpoint into a loft office at the back of the home. There, the threats came quickly—St. Felix would cut off the man's toes, he said, or his genitals. He would shoot him. He would rape his wife. The only way out was to cooperate, and that meant helping St. Felix log in to the man's Coinbase account.
Crypto is perceived as being anonymous and hard to trace—though this is not always true—and the huge price swings around bitcoin in recent years have minted plenty of new millionaires, many of whom are happy enough to flaunt their newfound wealth online. This remains, however, a poor idea.
Nate Anderson
Deputy Editor
Nate Anderson
Deputy Editor
Nate is the deputy editor at Ars Technica. His most recent book is In Emergency, Break Glass: What Nietzsche Can Teach Us About Joyful Living in a Tech-Saturated World, which is much funnier than it sounds.
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