Rising Targeted Attacks on Crypto Executives and Their Families
On May 13, 2025, an armed gang attempted to abduct the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium, in Paris, France. In broad daylight, three masked men jumped from a van and tried to force the woman and her son into the vehicle before several bystanders stepped in, prompting the attackers to flee. The incident is the fourth attempt targeting crypto executives or their families in France in recent months and reflects a broader pattern of organized criminal groups using kidnapping for ransom as an attack method for high-profile individuals. The event also raises concerns over a wider surge in organized crime across France and the rest of Europe.
The attempted kidnapping of Pierre Noizat’s daughter is not an isolated incident. Similar incidents recently occurred in France and other regions, exemplifying the growing risks crypto leaders and their families face:
On May 1, 2025, a group of four men wearing balaclavas kidnapped the father of a cryptocurrency millionaire in broad daylight and held him for several days. The unnamed man was eventually rescued but had one finger missing upon discovery.
In January 2025, David Ballard, co-founder of cryptocurrency company Ledger, and his wife were kidnapped from their home in France and taken to separate locations. The kidnappers mutilated David Ballard’s hand and his wife was later rescued from a car. Open source reporting indicates the kidnappers demanded a ransom to be paid in cryptocurrency.
On December 31, 2024, assailants broke into a house in Saint-Genis-Poilly, France, and kidnapped a 56-year-old man and restrained his wife and daughter. The attackers contacted the victim’s son, a prominent crypto influencer based in Dubai, shortly after demanding a ransom.
In November 2024, Dean Shurka, President of WonderFi, was kidnapped in Toronto. He was released after paying a ransom of $1 million USD. Local news indicates he was forced into a car during rush hour traffic.
The rise in attacks on cryptocurrency executives aligns with a broader surge in organized crime across France and Europe. Organized crime is increasing across the European Union in terms of frequency, severity, visibility, and impact. A recent Europol operation uncovered a major firearms trafficking route, including assault rifles and grenades, into France and across the region. The convergence of increased organized crime group presence, access to weapons, and growing frequency of kidnapping targeting public-facing crypto figures and their families presents a serious threat, especially in the absence of proper security measures.
The threat landscape for cryptocurrency executives is increasingly complex as their wealth and visibility rises. Cryptocurrency exchange by nature is untraceable and easily transferable, making ransom requests in the form of crypto especially attractive.
Attackers are increasingly going after crypto-executives’ families, as they are often more accessible targets. Incidents, like the most recent attempted kidnapping of Pierre Noizat’s family, are occurring even in densely populated urban areas that are typically considered safe, underscoring the boldness and sophistication of today’s organized criminals.
These evolving threats expose serious gaps in executive family security strategy. A lack of protective intelligence, predictable routines, absence of trained security personnel, and limited emergency preparedness leave high-profile crypto executives and their families vulnerable. The quick-thinking of bystanders defused the incident involving Pierre Noizat’s family, however, this is an unreliable form of protection. Protecting the principal alone is no longer sufficient and a robust security strategy must also cover executives’ families, integrating both physical and intelligence-led security teams. In today’s threat landscape, effective executive protection must be holistic, proactive, and family-inclusive.
These increasingly personal attacks highlight a major shift in tactics. Criminals are no longer just targeting systems, they're targeting people. As Mark Trott, former FBI agent and Concentric’s Program Manager for Investigations and Security Operations, explains:
“The recent hack is a clear warning: when attackers go after people, not just platforms, investigation support becomes essential. In today’s threat landscape, rapid attribution, digital tracing, and coordinated response are what protect assets and reputations.”
This shift underscores the need for a unified approach to threat detection and crisis response, one that integrates digital investigations, protective intelligence, and physical security for both executives and their families.
Concentric is Here to Help
Concentric’s team of experts are here to protect you, your family, and your business interests in today’s threat environment amidst the backdrop of increased executive and family kidnappings. Please do not hesitate to contact us. Our team is standing by to assist you with:
Monitoring Online Interactions: Concentric’s Active Monitoring can track any mentions of yourself, your family, or your business to alert you of any threats or reputational risks.
Travel Risk Assessments for Potentially Volatile Areas: Concentric’s team of dedicated analysts can author periodic updates and travel risk assessments to help you plan for, and monitor any developments during any upcoming travel or event attendance.
Implementing Security Protocols: Executive protection agents can protect you, your family, and business operations, and provide you with real-time threat monitoring of your home and workspace.
Protecting Personal Information: Eclipse by Concentric™ can remove unwanted personal identifiable information from tracking websites which can be used to target you, your family, and your staff, including as you plan upcoming business and travel.