Chainalysis CEO offers a clue into recent spate of Paris crypto attacks

Chainalysis CEO Jonathan Levin has provided insight into the recent wave of crypto-related kidnappings in Paris, attributing them to a persistent misconception among some criminal groups that cryptocurrency transactions are untraceable.

Despite law enforcement's growing success in tracking stolen crypto funds and ransom payments, leading to many arrests, some organized crime factions have not yet realized this reality, which may explain their continued targeting of crypto executives and their families.

This month, Paris has witnessed two serious attacks: on May 13, three assailants attempted to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of the French crypto exchange Paymium.

Earlier, on May 3, police freed the father of a crypto entrepreneur who had been held captive in a €7 million kidnapping plot. These incidents have raised alarm within the French government, prompting the interior minister to meet with crypto industry professionals to discuss enhanced security measures.

The attacks often involve coordinated, armed groups attempting kidnappings in broad daylight, as seen in the May 13 incident where the assailants used a van mimicking a delivery service's branding.

The victims resisted, and bystanders intervened, thwarting the attempts. These events are part of a broader pattern of violent crimes targeting crypto figures in France and Western Europe, linked to the perception that crypto wealth is less traceable and thus more vulnerable.

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