French Police Recover Kidnapped Father of Crypto Millionaire: Studies

French authorities managed to rescue the father of a bitcoin businessman on Saturday night through a planned raid a few days after he was held prisoner.

According to preliminary investigating from with , the victim, whose identity is unknown, was abducted in broad daylight on Thursday night in Paris ‘ 14th district when four masked people forced him into a bland delivery vehicle.

Police say the victim was found at a rental property in the Essonne area west of Paris on Saturday night, according to reports from the lawyer’s office.

The five defendants, all in their 20s, were detained while participating in the procedure led by particular cybercrime and treatment units.

According to separate reports, the kidnappers demanded between €5 ( US$ 5.6 million ) and €7 million ( US$ 7.95 million ) in crypto after severing one of the victim’s fingers.

A spokesperson for the prosecutor’s office said that” the sufferer appears to be the father of a man who made his fortune in bitcoins.”

Eventually, the victim’s wife let researchers know that her husband and son owned a blockchain marketing company with a Malta registration.

Before the recovery, no ransom was paid, according to French authorities.

Screw episodes continue to occur

The incident is the most recent instance of what security experts refer to as “wrench attacks,” physical threats that are used to supersede crypto’s electronic security measures. &nbsp,

According to the first comprehensive analysis of screw problems conducted by researchers at the University of Cambridge and the University College of London, which was recently reported by Decrypt, the word comes from a 2012 XKCD comics.

These kinds of assaults “undermine the effectiveness of the current online security standards when faced with real-world threats,” according to the researchers.

In what Ledger Chairman and CEO Pascal Gauthier described as a” tragic circumstance that we hope will never be repeated,” Ledger co-founder David Balland was abducted and mutilated in January.

Jameson Lopp, the co-founder and chief technology officer of Casa, shares real Bitcoin problems in a GitHub store. The Paris affair is referred to as the 21st terrorist attack this year, according to the list.

In February, Lopp told that “roughly correlated with the size of the market and general adoption of crypto.”

In addition to other simple safety precautions that could be taken to prevent screw attacks, security experts like Rigel Walshe, designer at Swan Bitcoin and former police officer in the New Zealand Police Force, need crypto holders to exercise “relaxed awareness” and remain “alert and ready.”

edited by Sebastian Sinclair