Paymium Kidnap Case: France Tightens Security for Crypto Millionaires

The French government is taking decisive action to protect its high-net-worth crypto holders after yesterday’s shocking kidnapping attempt on the Paymium co-founder Pierre Noizat’s daughter in Paris.

Like most tech-driven economies, France is also making efforts to transform itself into a crypto hub of the world. However, such crimes against crypto millionaires have increased in recent years, hampering its reputation as a safe haven for the community.

Attempted Kidnap of Pierre Noizat’s Daughter

The violent kidnapping attempt on the streets of Paris during broad daylight on Tuesday has sent shockwaves across the crypto community. The target was reportedly a leading Bitcoin entrepreneur and Paymium co-founder Pierre Noizat’s daughter and grandson.

Four armed attackers attacked the daughter, her partner, and the child in the 11th district of Paris. A tussle followed, and the passersby ran in to help, forcing the kidnappers to flee. The whole ordeal was caught on camera as well.

The Paymium Kidnap attempt was the third such case targeting crypto millionaires this year in France. Politico reported that Ledger cofounder David Balland was abducted in January this year. In a separate incident, the father of another crypto entrepreneur was also kidnapped earlier this month. More such kidnapping attempts targeting the crypto community have also been reported from across the globe.

France’s Interior Minister Responds With Security Measures

In response, Interior Minister Bruno Retailleau convened an emergency meeting this week with law enforcement and with cryptocurrency entrepreneurs.

Speaking to the French Media, Retailleau said that, “I will be bringing together at Beauvau [France’s interior ministry] the cryptocurrency entrepreneurs, there are a few in France, to work with them on their security, to make them aware of the risks, and to take together measures to protect them.”

“We must jointly take measures to protect them,” Retailleau said. As per media reports, Darmanin has asked regional police chiefs to prioritise identifying at-risk crypto investors who manage large amounts of digital assets and offer them protection.