French officials have called an emergency meeting with cryptocurrency businesses after a string of kidnappings targeted crypto owners. The government is worried about a growing trend of criminals forcing victims to transfer digital assets.
Finance Minister Bruno Le Maire and Interior Minister Gérald Darmanin are leading this urgent response. They want crypto companies to help stop these crimes that leave almost no trace when money is stolen.
These “crypto-jackings” have become a real problem in France. Criminals target people who own digital currencies like Bitcoin. They kidnap them and force them to transfer their crypto holdings. Once transferred, these digital assets are very hard to track.
“We need to act fast before more people get hurt,” a government source told me. “These criminals know exactly what they’re doing.”
The government wants crypto businesses to create better ways to spot suspicious transfers. They’re also discussing how to freeze stolen assets more quickly.
Some victims have lost their life savings. A tech worker from Paris described his terrifying experience: “They knew everything about my crypto holdings. I had no choice but to transfer it all.”
French police report at least seven cases this year alone. The actual number may be higher since many victims don’t report these crimes out of fear or embarrassment.
Cryptocurrency companies appear willing to cooperate. “We need to protect our users,” said the CEO of a major French crypto exchange. “This affects trust in the entire ecosystem.”
Experts from Epochedge technology have pointed out that privacy features that make crypto attractive also make it perfect for criminals. The challenge is finding balance between security and privacy.
The French response could influence how other countries handle similar crimes. Several European nations have reported similar incidents.
The government plans to announce new safety guidelines after the meeting. These may include ID verification improvements and suspicious transaction monitoring.
Crypto industry leaders from Epochedge news say education is key. Many users don’t know basic security steps that could protect them.
“Never share your holdings online or brag about crypto wealth,” advised one security expert. “This makes you a target.”
The meeting marks a turning point in how governments view cryptocurrency security. It’s no longer just about financial regulation but protecting people from physical harm.
As digital assets become mainstream, the criminal threats evolve too. The French government’s response shows how the virtual world increasingly impacts real-world safety.
For the latest updates on this developing story, visit Epochedge where we track emerging threats at the intersection of technology and personal security.
