French prosecutors charge 88 individuals linked to crypto wrench attacks

French authorities are investigating 88 individuals, including 10 minors, in connection with a series of kidnappings and extortions targeting cryptocurrency owners.

According to a Friday statement from the National Public Prosecutor's Office for Organized Crime (PNACO), the charges are tied to 12 ongoing judicial investigations conducted by the Paris Judicial Court and overseen by PNACO. Out of the 88 individuals charged, 75 have been placed in pretrial detention.

These cases involve criminal organizations that carry out kidnappings and use physical violence to force victims to transfer their cryptocurrencies, according to the statement.

"Kidnapping, sequestration in an organized gang, extortion, and attempted extortion in an organized gang are of particular gravity, both because of the harm inflicted on individuals and the methods used to obtain transfers of crypto-assets under duress," Vanessa Perrée, national prosecutor for organized crime, said in the translated statement.

French authorities urged crypto holders to remain vigilant and avoid extensive exposure on social media platforms that could make them targets. They also advised holders to be wary of purported solicitations from criminals posing as authorities seeking information about their physical locations.

Such attacks are on the rise, with blockchain analytics firm CertiK reporting that crypto wrench attacks rose 75% in 2025, resulting in roughly $41 million in confirmed losses.

Notably, David Balland, co-founder of crypto hardware developer Ledger, and his wife were abducted from their home in central France in January 2025 by suspects seeking a 10 million euro ransom.