The surge of violent crime targeting cryptocurrency entrepreneurs, investors, and their families is upending conventional wisdom about the safety of wealth in the digital age. In France—a country with a robust crypto ecosystem—these attacks have taken a particularly brutal turn, with kidnappings, extortion, and assaults becoming alarmingly frequent. The Wall Street Journal reports that recent high-profile incidents are prompting both industry insiders and law enforcement to reassess the risks of high-value, pseudonymous assets in an era where digital fortunes are as tempting to criminals as physical ones.

On May 13th, Paris’s upscale 11th arrondissement became the scene of a harrowing daylight attack involving Pierre Noizat, the CEO and co-founder of Paymium, one of France’s leading crypto exchanges. Noizat’s daughter, who was pregnant, and her two-year-old son were ambushed by three hooded, armed men as they walked to school. Her husband intervened, sustaining blows to the head before a neighbor, wielding a fire extinguisher, confronted the kidnappers, who fled the scene, leaving behind a weapon. “I’m amazed by his resilience and his courage,” Noizat told French broadcaster BFMTV, hailing his son-in-law and the neighbor for their “heroism” as reported in Le Monde.

This attempted abduction is far from isolated. According to EL PAÍS, France is enduring what authorities term a “wave of kidnappings” targeting crypto holders and their families. The attacks often feature brutal tactics—torture, threats, and in some cases, mutilation, such as severed fingers. The anonymity and instant transferability of cryptocurrencies have made them the ransom currency of choice for organized crime, complicating police response and tracing efforts.

The violence is not limited to France. Ars Technica detailed a spate of physical attacks on crypto millionaires throughout Europe, focusing on how criminals exploit the physical vulnerabilities of digital asset holders. In one Parisian incident, a masked gang attempted a kidnapping outside a family’s home, a scene that played out in broad daylight and was foiled only due to quick action by bystanders. Such cases underscore the paradox of the so-called “crypto millionaire’s curse,” as discussed by Cryptopolitan: visibility on blockchain-rich lists can turn success into a target.

Politico notes that the spike in violence has prompted high-level crisis meetings in France, with authorities pledging increased security for high-profile individuals in the crypto sector. France’s Interior Minister Bruno Retailleau convened with industry leaders to discuss bolstering defenses, reflecting how policy and policing are struggling to keep pace with evolving digital threats.

While the allure of cryptocurrency has always included a vision of borderless, frictionless finance, the reality now includes palpable physical risk. The BBC, covering the Paris incidents, noted that many crypto entrepreneurs are adopting new security measures—privacy protocols, armored vehicles, and even personal bodyguards. For many, the era of “passwords as personal protection” is over.

The Wall Street Journal’s analysis draws a through line from digital asset anonymity to real-world violence: the difficulty in tracing and recovering stolen crypto emboldens attackers. Many within the industry, including Noizat, are calling for a cultural and legislative reckoning. As he told Le Monde, “We need authorities to stop the Mexicanisation of France”—a reference to the cartel-style violence now seeping into European financial hubs.

The ongoing threat landscape is forcing a transformation in how crypto entrepreneurs live and work. For an industry built on the disruptive promise of decentralization, the new reality is sobering: the very features that make digital assets powerful may also make their owners uniquely vulnerable. Until law enforcement, regulators, and the industry itself find answers, the shadow over crypto’s golden age will only lengthen.