A recent wave of crypto-related attacks in Paris has rung the alarm bells across the crypto world. While law enforcement is just as concerned, the CEO of Chainalysis, Jonathan Levin, believes these crimes are conducted because the thieves believe that cryptocurrencies are untraceable.

Levin was a speaker at the 2025 Consensus crypto conference, where he addressed the recent attacks. He took the opportunity to emphasize the traceability of all blockchain transactions. He also believed that organized crime groups were still operating under outdated assumptions.

He said during the conference, “For whatever reason, there is a perception that’s out there that crypto is an asset that is untraceable, and that really lends itself to criminals acting in a certain way.” Levin also pointed to a worrisome number of such incidents, especially in Paris, France.

Crypto Attacks in Paris

In May of this year, two incidents happened in Paris that drew the attention of the world to this issue. Earlier in the month, on May 3, the father of another crypto entrepreneur was abducted and held for ransom, with kidnappers demanding €7 million ($7.8 million) in cryptocurrency. Paris police ultimately rescued the victim.

On May 13, three suspects attempted to kidnap the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium. These two incidents prompted a quick response from the French Interior Minister. The Minister met with crypto professionals in the country to discuss these emerging security concerns.

“These units within law enforcement have actually been very successful at holding some of those people to account in those kidnapping cases,” Levin said. He also added that law enforcement was not only catching these perpetrators but was also tracing the connections to larger criminal networks.

Beyond Paris

The attacks in Paris were just part of a series of events that happened. In March of this year, famous online streamer Amouranth was a victim of a home invasion where the armed thugs wanted access to her crypto assets. Shortly afterwards, four suspects were arrested. According to ZackXBT, a blockchain researcher, such incidents have surged in Western Europe.

A GitHub database compiled by Casa co-founder Jameson Lopp lists 22 such incidents so far in 2025, compared to 28 in all of 2024. However, experts believe the actual number may be higher due to underreporting, driven by fears of revictimization. A University of Cambridge study released in late 2024 confirmed this trend, highlighting the prevalence of so-called “wrench attacks.” As law enforcement continues to make strides in tracking crypto crime, the message is becoming clearer: crypto may be digital, but it’s far from invisible.

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