Mastermind of French crypto kidnapping ring arrested by Moroccan authorities Moroccan authorities have arrested Badis Mohamed Amide Bajjou, the man believed to be behind a wave of kidnappings targeting crypto entrepreneurs in France.
The 24-year-old was apprehended in Tangier and was wanted under an Interpol red notice for charges including kidnapping, unlawful confinement, and hostage-taking.
Escalating attacks on French crypto leaders
French authorities have been investigating a series of violent attacks and attempted abductions aimed at cryptocurrency executives and their families. Among the targeted individuals was Pierre Noizat, CEO of Paymium, whose pregnant daughter and husband were attacked in broad daylight in Paris’s 11th district on May 13. The suspects fled after the family resisted, assisted by a bystander using a fire extinguisher.
In January, David Balland, co-founder of Ledger, was kidnapped alongside his wife. Balland suffered the severing of a finger and was held separately from his spouse. The perpetrators contacted the other Ledger co-founder and demanded a ransom, which was paid in cryptocurrency. French daily Le Parisien identified Bajjou as the main suspect in this high-profile case.
Criminal network and youth involvement
Authorities recently charged 25 individuals in connection with the kidnapping spree, including six minors. Lawyer Ambroise Vienet-Legue, representing one of the suspects, said many of those involved were young and lured by quick money, later finding themselves in over their heads. The suspects were from various backgrounds including France, Angola, Senegal, and Russia.
Investigators believe another Franco-Moroccan man in his forties, still at large, played a key role by recruiting these youths online. He is wanted in connection with previous crimes, including an attempted murder and the abduction of a crypto entrepreneur’s mother in 2023.
Security response and international cooperation
French Interior Minister Bruno Retailleau held a security summit with cryptocurrency professionals on May 16 to discuss protection measures. Steps have been taken to strengthen security collaborations and provide guidance on anti-money laundering practices. The meeting included law enforcement officials and representatives from the Association for the Development of Digital Assets.
Weapons, cash and phones were taken from Bajjou during his arrest by the Moroccan authorities. France’s Chief Justice Gerald Darmanin gave praise to Morocco’s cooperation, saying it illustrates how countries cooperate to fight organized crime. Since security is a growing concern, the founder of Casa Bitcoin emphasized that crypto leaders are turning to offline wallets. Information has appeared regarding a major data breach at Coinbase, where 97,000 users were exposed and more people are now concerned about additional attacks.