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The growing threat to crypto executives just got personal — and French authorities are taking notice.
Violent Attempt on CEO’s Family Sparks Action
France’s Interior Minister Bruno Retailleau plans to meet with crypto industry leaders following a chilling kidnapping attempt targeting the family of Pierre Noizat, CEO of crypto exchange Paymium.
On May 13, Noizat’s daughter and grandson were attacked by three masked men in Paris’ 11th district. The assailants tried to force them into a white van, but quick-thinking passersby intervened, one even throwing a fire extinguisher to chase them off.
The van was later found abandoned. Authorities have launched an active investigation.
Crypto Execs Become Targets
Retailleau told French media that the government will convene crypto businesspeople to discuss enhanced security protocols:
“We have a few of those [crypto professionals] in France… we will work with them on their security.”
This isn’t an isolated incident. Just weeks earlier, the father of another Paris-based crypto entrepreneur was kidnapped in a €7 million ransom plot. And in January, Ledger co-founder David Balland was abducted and later rescued in a police operation.
The $5 Wrench Problem
These real-world threats are often referred to as “$5 wrench attacks” — a term coined in a popular XKCD comic. It means no matter how secure your crypto is, someone can just beat it out of you.
Jameson Lopp, founder of Casa, has tracked 22 physical crypto-related robberies so far this year — and experts believe many more go unreported.
A 2024 University of Cambridge study found that victims often stay silent to avoid trauma and media exposure.
