Crypto thieves turn violent: three kidnapping cases in recent weeks

Crypto investors need to be extra careful not to attract the attention of criminals. At least three attacks on crypto holders or their family members occurred between the end of 2024 and the beginning of 2025, and such attacks are estimated to become more frequent as markets rally.

The most recent case involved a crypto influencer whose father was kidnapped in France on New Year's Eve. According to local media reports, police officers accidentally found a 56-year-old man in the trunk of a car that was stopped for inspection in Le Mans, while the suspects fled. The man, reportedly the father of a crypto influencer based in Dubai, was tied up, beaten, and covered in gasoline. His son was known for bragging about his wealth on social media.

After the criminals kidnapped the father, they contacted the influencer, demanding ransom. However, the influencer contacted the police, who helped locate the father.

Meanwhile, in Karachi, Pakistan, last Friday, seven suspects were reportedly arrested for their alleged involvement in the kidnapping of a crypto trader and extorting $340,000 from him on December 25th. Among the suspects is an officer of the Counter-Terrorism Department.

The victim was kidnapped at night, put in a police car without a number plate, and taken to an unknown location, where he was forced to open his account on the Binance crypto exchange and transfer $340,000 to different accounts. A few hours after the kidnapping, the victim was released.

Another crypto influencer's family member was the target of an attempted kidnapping on December 24th in Brussels. Per local media reports, the victim is the wife of a crypto influencer who is also known for bragging about his crypto trading profits on social media. Luckily, the attempted kidnappers did not succeed, as the abduction led to a police chase that ended in a crash in Bruges and the arrest of the suspects.

As the crypto market is expected to continue growing this year, similar cases might become more frequent.

"I expect that 2025 will achieve an all-time high... in physical 'wrench' attacks against bitcoin owners and their families. We'll probably hear about a new one nearly weekly," bitcoin security expert and co-founder of crypto asset custody solutions company Casa, Jameson Lopp, predicted.

Per a public database of physical attacks in the crypto world, last year, there were 22 such cases registered, which is around 22% more than in 2023.