Cryptocurrency: Paris thanks Rabat for capturing man involved in kidnappings in France

French Justice Minister Gerald Darmanin has thanked Moroccan authorities for capturing a man wanted in France for kidnappings and attempted abductions targeting cryptocurrency bosses and their families in recent months.

The suspect was arrested Wednesday in the northern Moroccan city of Tangier. He is a native of Le Chesnay west of Paris. He is accused of being one of the masterminds behind the high-profile kidnapping in January of French crypto boss David Balland and his partner, according to French daily Le Parisien.

Balland co-founded the crypto firm Ledger, valued at the time at more than $1 billion. Balland’s finger was cut off by his kidnappers, who demanded a hefty ransom.

The interpol-flagged individual was arrested in Tangier in a security operation jointly conducted by the National Brigade of the Judicial Police (BNPJ) and the General Directorate for Territorial Surveillance (DGST), the national police said in a press release.

Multiple bladed weapons of different sizes (knives and cutlass) were found in the suspect’s possession, alongside dozens of mobile phones and communication devices, currently subject to technical expertise to identify the digital footprints.

In addition, a sum of money allegedly related to criminal activities committed by the suspect was also discovered in his belongings, the press release said.

the Paris public prosecutor’s office annunced on June 1 that 25 individuals, including minors, have beencharged in connection with the kidnappings and attempted abductions of high-profile cryptocurrency industry figures in France.

According to previous reports, there has been an increase in the number of crypto-related kidnappings targeting prominent crypto personalities and their relatives since the beginning of the year in Paris.