US Leads in Crypto Kidnapping Cases Despite Recent Incidents in France

According to the latest Binance report, the US saw the highest amount of crypto kidnapping cases since 2019, despite the recent increase in incidents in France. Europe is still the region with the most crypto kidnapping incidents, with 59 cases in 6 years. North America saw 48 cases during the same period. 

Crypto Kidnappings Rise as Criminals Exert Physical Threat to Steal Digital Assets

While crypto has notoriously been popular for hacks and digital malicious exploits, criminals are now finding a new way to steal digital assets through physical threats. 

However, these attacks are not limited to a single region. While North America and Europe remain the most vulnerable regions for such incidents, other regions have seen an increasing number of attacks.Across the entire Asian continent, 62 cases of crypto kidnapping and physical threats have been recorded since 2019. The majority of these cases took place in Southeast Asian countries.

Crypto Kidnappings By Region Since 2019. Source: Binance

France has seen six such cases recently, three of which occurred in 2025 alone. The attackers often target individuals believed to hold or manage digital assets. Victims include crypto executives, traders, exchange staff, and business owners. 

In some cases, criminals have gone after their family members or tourists suspected of carrying valuable wallet credentials.

The Growing Physical Threat of Crypto

One of the most serious incidents this year happened in January. David Balland, co-founder of Ledger, and his wife were abducted from their residence in France. The case drew widespread attention from both industry and law enforcement.

Another recent attempt took place earlier this month in Paris. Armed men reportedly tried to abduct the daughter and grandchild of the CEO of French crypto exchange Paymium. 

Meanwhile, in New York, police arrested 37-year-old John Woeltz after discovering that an Italian tourist had been held captive and abused for weeks in a high-end Manhattan apartment. 

Wild story out of NYC: A 37-year-old crypto investor, John Woeltz, has been arrested for allegedly kidnapping and torturing a 28-year-old Italian man for three weeks inside a $30K/month Manhattan townhouse. The victim escaped Friday morning and ran to a traffic agent for help.… pic.twitter.com/ZZdi9CxEmq

— Lauren Conlin (@conlin_lauren) May 24, 2025

Binance highlights a clear pattern between crypto prices and physical crime. Since Bitcoin reached an all-time high this year, reported attacks involving physical threats have also climbed. 

Crypto Kidnapping Cases Rise as Bitcoin’s Price Increases. Source: Binance

So far in 2025, at least 15 such incidents have been documented—many involving ransom demands in Bitcoin.

As digital asset values rise, attackers appear more willing to move offline, using violence and intimidation to access funds.