French Authorities To Roll Out New Protective Measures Amid Crypto Wrench Attacks Rise

As France becomes a hotspot for crypto-related kidnappings and “wrench attacks,” authorities have announced fresh measures to crack down on these crimes and boost the security of digital asset holders in the country.

On Thursday, Jean-Didier Berger, minister delegate to the interior minister of France, revealed that the ministry is preparing new measures to protect crypto asset holders amid the surge in kidnappings and wrench attacks in the country.

He emphasized that authorities already took initial “preventative measures” to strengthen protections, including check-ups at crypto executives’ homes, special briefings by elite police tactical units, and a prevention platform that has attracted thousands of sign-ups.

Therefore, the government wants to reinforce security to prevent these attacks “in the coming weeks” with a new package of measures, which Berger has been working on alongside Interior Minister Laurent Nuñez. Nonetheless, he did not disclose specific details on these potential measures.

In addition, a police motorcade escorted guests to a VIP dinner in the Palace of Versailles on Tuesday. Berger addressed the strong security measures, affirming that “it demonstrates the determination of the government and of France to support you, assist you, and protect you in all circumstances.”

The attackers reportedly tied a mother and her 11-year-old child with an electrical cable and beat the father, who is a crypto entrepreneur, and grandfather, before police arrived. In March, local news outlets reported that three individuals posing as police officers held a man and a woman in their late fifties captive in their home in Le Chesnay, Yvelines. The trio demanded a ransom of $1.06 million in Bitcoin.

Despite the concerning numbers, the French National Assembly advanced a provision requiring taxpayers to declare funds over €5,000 held in self-custody wallets, such as Metamask and Ledger.

Nonetheless, Raymond has noted that the provision is unlikely to survive the Joint Committee (CMP), and if it progresses, the text could be referred to the Constitutional Council.