French cryptocurrency executives are grappling with fear after a series of violent kidnappings. Industry leaders are taking security into their own hands, while some demand tougher measures, including deregulation and the right to bear arms for self-defense.
After a series of violent kidnappings, French cryptocurrency executives are increasingly fearful. Alexandre Aimonino, co-founder of a crypto compliance software company, has adjusted his routine, avoiding public transport and industry events to ensure his safety. "Working in the ecosystem feels like having a target on your back," Aimonino said.
The most recent attack took place on Tuesday, when a masked gang tried to abduct the daughter of Pierre Noizat, CEO of Paymium, on a Paris street. This marks the third such incident in recent months, adding to the escalating fears within the crypto community.
The rapid rise of cryptocurrency wealth has made wealthy investors vulnerable. Security experts believe criminals are increasingly targeting crypto bosses, drawn to the perception that cryptocurrencies are easier to launder than cash. This growing threat has raised alarm bells across the industry.
In response to the attacks, some crypto executives are advocating for deregulation to safeguard identities. Others, like Ledger's Eric Larcheveque, are pushing for the legal right to carry arms for self-defense. The government has promised increased police protection, but industry leaders are demanding more.
While France is facing a particular wave of attacks, this issue is not unique to the country. Similar kidnappings and ransom demands have been reported in the U.S., Europe, and parts of Asia, signaling a growing global problem that crypto executives are struggling to address.
Private security firms have seen a significant uptick in requests for protection. Experts like Ben Davis, a UK-based insurance broker, note that the fear surrounding crypto-related kidnappings is no longer just an isolated issue but a widespread concern among the industry's investors and executives.
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