French Prosecutors Charge 88 in Crypto Wrench Attack Ring

French authorities have charged 88 individuals, including 10 minors, in connection with kidnappings and extortions targeting cryptocurrency owners, according to a statement from the National Public Prosecutor's Office for Organized Crime (PNACO) released Friday. The charges are tied to 12 ongoing judicial investigations conducted by the Paris Judicial Court and overseen by PNACO, with 75 of the 88 individuals placed in pretrial detention.

Criminal Operations and Methods

These cases involve criminal organizations that carry out kidnappings and use physical violence to force victims to transfer their cryptocurrencies. According to the PNACO statement, the offenses include kidnapping, sequestration in an organized gang, extortion, and attempted extortion in an organized gang.

Vanessa Perrée, national prosecutor for organized crime, characterized the severity of these crimes: "Kidnapping, sequestration in an organized gang, extortion, and attempted extortion in an organized gang are of particular gravity, both because of the harm inflicted on individuals and the methods used to obtain transfers of crypto-assets under duress."

Safety Warnings from French Authorities

French authorities have urged cryptocurrency holders to remain vigilant and avoid extensive exposure on social media platforms that could make them targets. They also advised holders to be wary of purported solicitations from criminals posing as authorities seeking information about their physical locations.

Rising Trend of Wrench Attacks

Crypto wrench attacks are on the rise globally. According to blockchain analytics firm CertiK, crypto wrench attacks rose 75% in 2025, resulting in roughly $41 million in confirmed losses.

Notable Case

The investigation reflects a broader pattern affecting high-profile individuals in the crypto industry. David Balland, co-founder of crypto hardware developer Ledger, and his wife were abducted from their home in central France in January 2025 by suspects seeking a 10 million euro ransom.