The city of love, Paris, has witnessed another chilling episode of a crypto-related kidnapping. A 35-year-old former cryptocurrency trader, Alexander, was held captive and tortured but was released after the captors failed to extort the €10,000 ransom.
The incident is the 10th crypto-related kidnapping in France during the last few months, out of the 32 reported crimes globally. This indicates that France is increasingly experiencing a surge in crypto-related crimes.
According to the local newspaper, Le Parisien, Alexander was kidnapped and held captive between Paris and Saint-Germain-en-Laye. The police launched an immediate investigation Tuesday night after receiving a call from Algeria, where the victim’s acquaintance had received a disturbing photo showing Alexander on his knees with his hands tied.
Using the initial investigation and gathered details, authorities geolocated Alexander’s phone to the 10th arrondissement of Paris. Alexander was recognized while returning home after being released. Anti-crime squad officers described him as “shocked” with visible facial injuries from strangulation attempts by his attackers.
Forensic technicians collected traces and evidence from his clothing and skin to identify the perpetrators, while investigators work to verify his statements about the incident circumstances. At the time of writing, the case is in its initial investigation stage, and there are currently no strong leads to follow, as per police officials.
Crypto Crimes on the rise
This instance is not an isolated incident of crypto-related kidnapping. In June, the French police arrested five people, four adults and one minor, for kidnapping the father of a well-known cryptocurrency entrepreneur. Last month, a court in Brussels imprisoned three men for 12 years each. They were found guilty of kidnapping the wife of a well-known Belgian crypto investor named Stéphane Winkel.
Authorities all across the globe have been issuing stern warnings to crypto users. The increasing criminal activity underscores the negative aspects of the cryptocurrency industry.
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