A chilling wave of violence has recently gripped Paris, bringing renewed attention to the risks faced by those working in or associated with the cryptocurrency industry. Two high-profile kidnapping attempts targeting the families of crypto executives have rocked the city, and now, Jonathan Levin, CEO of blockchain analytics firm Chainalysis, is offering insights into why these alarming incidents might be occurring.
Speaking at the 2025 Consensus conference, Levin pointed to a troubling misconception still held by many criminals — that cryptocurrencies are untraceable. This mistaken belief, he says, is contributing to a disturbing rise in crypto-related abductions and attacks.
“There’s a perception out there that crypto offers anonymity, and that lends itself to a false sense of security for those trying to exploit it,” Levin explained. “But the reality is quite different — law enforcement is getting better at tracking these transactions, and that’s led to a lot of arrests.”
His comments come on the heels of two deeply unsettling events in the French capital. On May 13, attackers reportedly attempted to kidnap the daughter and grandson of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium. Just ten days earlier, on May 3, Parisian authorities rescued the father of a crypto entrepreneur who had been held hostage for several days in a ransom scheme demanding €7 million (approximately $7.8 million). Both cases have triggered serious concern among French authorities and prompted a response from the interior minister, who has since met with members of the local crypto industry.
Unfortunately, these incidents aren’t isolated. Blockchain investigator ZachXBT flagged last October that a growing number of individuals across Western Europe were reaching out to him after experiencing home invasions linked to their crypto holdings — a disturbing trend that appears to be gaining traction.
Levin emphasized that many of these criminal organizations are still operating under outdated assumptions. “The message clearly hasn’t reached some organized crime groups — particularly those involved in these Paris attacks — that crypto isn’t some digital cloak of invisibility,” he said. “It’s traceable, and in many cases, funds have been recovered.”
That reality was underscored earlier this year when popular streamer Amouranth was victimized in a violent home invasion, with multiple suspects ultimately arrested for attempting to force her at gunpoint to surrender her crypto wallet credentials. Levin pointed to such incidents as proof that crypto-focused crime is far from the easy payday criminals might imagine.
“This isn’t a profitable business model,” Levin remarked. “It’s dangerous, law enforcement is catching up, and even in cases where ransoms are paid, there’s a chance those funds can be traced and clawed back.”
Still, Levin acknowledged the sobering nature of the situation. While technological tools have made it easier to track illicit crypto activity, offline violence is a far more difficult challenge to address. “It’s bleak,” he admitted, urging the community to adopt more robust security measures.
He also stressed the importance of digital privacy. “People in this industry need to be incredibly mindful about what they share online — even something seemingly innocent can make you a target.”
Data compiled by cypherpunk Jameson Lopp suggests that 22 in-person crypto-related attacks have already been recorded in 2025 — a slight dip from 28 in 2024, but still alarmingly high. The real number may be higher, according to a University of Cambridge study from late last year, which found that many of these so-called “wrench attacks” go unreported due to victims fearing further trauma or exposure.
As the crypto sector continues to grow, so too do the risks — not just in cyberspace, but in the real world. Levin’s message is clear: criminals are being caught, the money trail is visible, and the illusion of anonymity is slowly crumbling. But until that understanding becomes universal, those involved in the space must remain vigilant, both online and off.
