Shortly
- After kidnappers asked for ransom payments in cryptocurrency, the police freed a father who was a crypto-entrepreneur.
- Attackers severed the victim's finger in an attack mirroring January's Ledger founder kidnapping.
- In France, violent extortions have continued in spite of the fact that this is now the third Crypto-related kidnapping.
The father of an crypto-millionaire was rescued by French authorities in a coordinated raid on Saturday night. He had been held captive for days.
The victim, whose identity remains undisclosed, was abducted in broad daylight Thursday morning in Paris's 14th arrondissement when four masked men forced him into a nondescript delivery van, according to initial Reporting The following is a list of the most recent and relevant articles. Le Monde You can also find out more about Agence France Presse.
Reports from the Paris prosecutor's office indicate police located the victim Saturday night at a rental property in the Essonne region south of Paris.
All five suspects are in their early twenties. They were captured during an operation conducted by special cybercrime intervention and investigation units.
Reporting separate from Le Parisien The kidnappers claimed to have Demanded between €5 (US$5.6 million) and €7 million (US$7.95 million) in crypto after severing one of the victim's fingers.
"The victim appears to be the father of a man who made his fortune in cryptocurrencies," a prosecutor's office spokesperson stated.
Investigators later learned from the victim's wife that her husband and their son operated a crypto marketing firm registered in Malta.
French authorities confirm that there was no ransom paid prior to the rescue.
The Wrench attack continues
The incident represents the latest in what security experts call "wrench attacks"—physical threats used to override crypto's digital security measures.
The word originates from an The 2012 XKCD Comic. According to the First Comprehensive Studying On the previous attacks by University of Cambridge researchers and University College of London researchers reported By: Decrypt.
These kinds of attacks "undermine the efficacy of existing digital security norms when confronted with real-world threats," the researchers said.
David Balland (co-founder of Ledger) was inducted into the Ledger Hall of Fame on January 1, 2019. The kidnapped woman was mutilated before police rescued him in what Ledger Chairman and CEO Pascal Gauthier described as a "traumatic situation that we hope will never be repeated."
Jameson Lopp is the co-founder of Casa and Chief Technology Officer. Bitcoins are being attacked physically This is a GitHub repository. Paris is listed as the 21st incident of the year.
Wrench attacks are "roughly correlated with the size of the market and overall adoption of crypto," Lopp Tell them to get on with it Decrypt In February,
Crypto experts, such as Rigel Wahl, a developer and former constable of the New Zealand Police Force at Swan Bitcoin, encourage crypto users to be cautious. Practice "relaxed awareness" and stay "alert and prepared," among other Simple security measures What can be done to stop wrench attacks?
Sebastian Sinclair edited the book
