Teen kidnapped crypto influencer’s dad and doused him in petrol, police say

France remains in the grip of a crypto “wrench attack” pandemic. But police are fighting back, with investigators making five arrests after a social media influencer’s father was doused in petrol by a group of thugs — including at least one teenager — demanding ransom payments in crypto.

The unnamed influencer’s father was allegedly attacked on December 31, 2024, in Saint-Genis-Pouilly, in the Ain region near the French-Swiss border, French media outlet France 3 reported.

“The victim, a 56-year-old man, was violently assaulted, doused with petroleum, and forced into the trunk of a car, along with his partner,” a spokesperson for the French prosecution said.

Wrench attacks

The arrests come amidst a rise of so-called “wrench attacks.”

In the crypto community, the expression refers to physical assaults and kidnapping attempts whereby criminals try to force crypto holders to send them their coins.

Police have recorded at least seven such attacks so far in March, per data compiled by Jameson Lopp, the co-founder and chief security officer of the crypto wallet provider CasaHODL.

In recent days, police have closed the net on several suspects in multiple cases, with suspicions overseas masterminds have commissioned the attacks.

Police have arrested individuals in Angers and Île-de-France, as well as Épinal, in the Grand Est region.

Detectives said there was evidence of “a structured network” operating behind the scenes.

The latest arrests comes days after police in the outskirts of Paris mobilised 100 armed officers and two helicopters to track down two teens suspected of stealing jewellry from a female crypto holder.

The teens, and an older man, are also accused of attempting to break into another crypto holder’s house “armed with explosive devices.”

Ransom demands

Police say the Saint-Genis-Pouilly attack took place just hours before the couple was due to celebrate the New Year in 2024.

Officers say the attack was carefully planned and carried out by individuals “already known to police and the courts.”

The youngest of the group was aged just 16 at the time of the alleged attack. The oldest was aged 42.

After kidnapping the man and his partner, the gang reportedly contacted their son, described as a Dubai-based influencer and crypto entrepreneur.

Police did not comment on whether or not the victim’s son paid the ransom the alleged kidnappers had demanded.

Detectives found the man near the city of Le Mans, some 700 kilometres from his home. They also found his partner tied up at the scene.

Prosecutors are set to charge all five suspects with kidnapping, unlawful confinement, extortion, organised crime, and aggravated violence.

Bungled Bitcoin burglary

Elsewhere in the county, another gang of would-be crypto robbers was reportedly thwarted by a burglar alarm.

Officers in Nantes reported several individuals tried to break into the house of the CEO of a Bitcoin-related company in the early hours of March 16.

After they triggered an alarm, the group allegedly fled the scene. Police say they are still searching for the suspected intruders.

Tim Alper is a News Correspondent at DL News. Got a tip? Email him at tdalper@dlnews.com.