French Police Rescue Kidnapped Father of Crypto Millionaire: Reports

French authorities have rescued the father of a crypto millionaire through a coordinated raid Saturday night, days after being held hostage.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 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.The five suspects, all in their twenties, were arrested during the operation led by specialized cybercrime and intervention units.Separate reporting from “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.No ransom was paid before the rescue, French authorities confirmed.The incident represents the latest in what security experts call “wrench attacks”—physical threats used to override crypto’s digital security measures. The term originates from a These kinds of attacks “undermine the efficacy of existing digital security norms when confronted with real-world threats,” the researchers said.In January, Ledger co-founder David Balland was Jameson Lopp, co-founder and chief technology officer of Bitcoin security firm Casa, documents Wrench attacks are “roughly correlated with the size of the market and overall adoption of crypto,” Lopp Security experts such as Rigel Walshe, developer at Swan Bitcoin and former police constable in the New Zealand Police Force, urge crypto holders to Edited by Sebastian Sinclair