France may be known worldwide for the Eiffel Tower and haute couture, but in 2026 it is increasingly associated with something far darker: a spike in crypto-linked kidnappings, commonly referred to as wrench attacks. Media outlets have begun labeling the country the “global crypto kidnapping capital” after a string of violent incidents targeting digital asset holders.
France’s Troubling Rise in Wrench Attacks
According to a recent Gravitas special report by WION, France recorded 19 wrench attacks last year, the highest number globally. In 2026 alone, at least six additional cases have already surfaced, reinforcing its position as the epicenter of this violent trend.
Wrench attacks involve criminals using physical force, threats, or abduction to compel victims to transfer cryptocurrency. Unlike traditional cyberattacks that exploit software vulnerabilities, these crimes target individuals directly, bypassing digital security entirely.
Earlier this month, David Prinçay, CEO of Binance France, was reportedly targeted in a failed home invasion in Val-de-Marne. According to local police reports, three masked and allegedly armed men broke into a residential building around 7 a.m. on February 12 in an attempt to locate him.
In another chilling case, the partner of a 35-year-old magistrate received a photograph of his partner accompanied by threats of mutilation unless a cryptocurrency ransom was paid. The victim was reportedly targeted because of her husband’s ties to a crypto startup. French authorities launched a massive manhunt involving roughly 160 officers. The magistrate and her elderly mother were held captive for 30 hours in a garage in the Drôme region before escaping with help from a neighbor. No ransom was paid, and six suspects were arrested.
Data Breaches Fueling the Violence
Experts point to data leaks and privacy failures as major catalysts behind the surge. In June 2025, French media reported that an employee at the national tax agency had allegedly supplied criminals with information on crypto investors.
The situation worsened in January when Waltio, a crypto tax reporting platform, was hacked. The breach exposed personal information from approximately 50,000 users, including email addresses and 2024 tax data. Such leaks provide criminals with detailed intelligence on potential high-value targets.
Europe’s Growing Security Crisis
Globally, wrench attacks increased by 75% year-on-year from 2024, with approximately 25 kidnappings, three murders, and more than $40 million in losses recorded. Europe accounts for nearly 40% of these incidents, with France leading by a wide margin.
Authorities report that many perpetrators are young, sometimes minors, recruited through messaging apps such as Telegram and paid relatively small sums to execute the crimes. Despite multiple arrests, there have been no convictions so far, raising concerns about weak deterrence.
The pattern suggests that crypto’s decentralization and self-custody principles, while empowering users financially, may inadvertently expose them to physical security risks. Unlike traditional bank accounts, digital assets can be transferred instantly and irreversibly under coercion.
Mounting Pressure on French Authorities
The rise in violent crypto-related crimes has triggered growing calls for stronger government action. Investors are increasingly investing in private security measures, especially when traveling to France.
With no convictions yet secured, critics argue that harsher penalties and improved data protection frameworks are urgently needed. As wrench attacks continue to rise, France’s reputation within the global crypto community is under scrutiny. If decisive action is not taken, the country risks reinforcing its new, unwanted title as the world’s crypto kidnapping capital.
