France’s Descent into Chaos: Crypto Kidnappings and the “Mexicanisation” of the West, By Richard Miller (Londonistan)
The chilling video of a botched kidnapping in broad daylight on a Paris street, targeting the daughter of a cryptocurrency CEO, is more than just a crime story, it's a flashing red warning of a broader collapse. As reported by France24, this brazen attack in the heart of France's capital is the latest in a string of violent abductions tied to the crypto industry, prompting critics to decry the "Mexicanisation" of France. From a nationalist perspective, this isn't just a French problem, it's a symptom of the West's decay, where weak leadership, unchecked crime, and the allure of digital wealth are turning civilised nations into lawless battlegrounds. The question isn't whether France is sliding toward chaos; it's whether the West can pull back from the brink before it's too late.
On May 13, 2025, in Paris's 11th arrondissement, three masked men leapt from a van and tried to abduct a 34-year-old woman, pregnant and accompanied by her two-year-old child, along with her partner. She was no random target: she's the daughter of Pierre Noizat, CEO of Paymium, a French cryptocurrency exchange. The attackers, armed with what turned out to be a BB gun, wrestled with the couple as they screamed for help. A local hero, a bicycle shop owner named Nabil, intervened with a fire extinguisher, forcing the would-be kidnappers to flee. The van was later recovered, but the perpetrators remain at large, with an investigation underway.
This wasn't an isolated incident. In January, David Balland, co-founder of Ledger, and his wife were kidnapped; Balland lost a finger before police rescued them. In May, the father of another crypto entrepreneur was abducted in Paris, also losing a finger, with kidnappers demanding millions in ransom from his Dubai-based son. These attacks, marked by gruesome violence and cryptocurrency ransom demands, have shaken France's crypto community and sparked outrage. Eric Larchevêque, Ledger's co-founder, took to X, slamming the "Mexicanisation of France" and blasting law enforcement's "laxity." France's response, beefed-up police access and security briefings for crypto figures, but the damage was done. The perception of France as a safe, civilised nation is crumbling.
The term "Mexicanisation," as used by Larchevêque and echoed by Noizat, is loaded. It evokes Mexico's decades-long struggle with drug cartels, rampant kidnappings, and a government often powerless to stop them. For conservatives, it is a shorthand for what happens when a nation loses control: borders weaken, crime surges, and elites value globalist agendas over public safety. France's crypto kidnappings fit this narrative perfectly. The rapid rise of Bitcoin and other cryptocurrencies has minted a new class of wealthy entrepreneurs, but their digital fortunes, stored in wallets that can be emptied with a single security key, make them easy prey for criminals. As France24's Mounia Ben Aissa Kacem notes, "Unlike a bank account, you can't stop payments on a crypto wallet. If you give up your security key, that's it. The funds disappear in just a few clicks, for good."
Why is this happening in France, once a beacon of Western culture? From a nationalist lens, the answer is clear: decades of soft-on-crime policies, open borders, and a refusal to confront organised crime head-on. The France24 report ties these kidnappings to a broader "rise in organised crime," including prison attacks by narcotics kingpins, which have logically fuelled far-Right support. Cybersecurity expert Renaud Lifchitz points out that the attackers are often "lowly gang members" hired by savvier masterminds, many operating from abroad or even prison. Their amateurish mistakes, like using traceable stablecoins for ransoms, haven't stopped the violence, only exposed the state's inability to deter it; a crypto entrepreneur's father was mutilated during a 48-hour ordeal. This isn't just crime; it's a systemic failure.
France's crypto kidnapping wave is a microcosm of what nationalists see as the West's broader collapse. The parallels to the U.S. are striking: porous borders, rising crime, and a ruling class more concerned with optics than action. President Trump has long warned about the dangers of unchecked immigration and weak law enforcement, pointing to cities like Chicago and San Francisco as cautionary tales. France, with its history of lax immigration policies and multicultural experiments, is now reaping the same whirlwind. The "Mexicanisation" label isn't just about kidnappings; it's about a society losing its grip, where success, like building a crypto empire, puts a target on your back.
The crypto angle sharpens the stakes. Cryptocurrencies, championed by many in the freedom movement for their decentralised, anti-establishment ethos, are a double-edged sword. They empower individuals but also attract predators who exploit the anonymity and speed of blockchain transactions. France24 notes that blockchains are traceable, but as Jérôme Mathis of Paris-Dauphine University told RFI, "It's easier to hide your identity behind a pseudonym," making crypto a magnet for criminals. This dynamic, innovation breeding vulnerability, mirrors the West's broader struggle: the freedoms and technologies that define us are being weaponised by those who reject our values.
The French government's response, led by Interior Minister Bruno Retailleau, is a start but falls short of the bold action that is required.Retailleau's emergency meeting with crypto leaders on May 16, 2025, produced promises of priority police access, home security checks, and anti-crypto-laundering training for law enforcement. These are Band-Aids on a gaping wound. From a MAGA perspective, France needs a Trump-style overhaul: crack down on organised crime, deport criminal elements, and arm law-abiding citizens to defend themselves. Larchevêque and others have called for the right to bear arms and deregulation to keep crypto transactions anonymous, reflecting a growing distrust in the state's ability to protect.
This crisis also demands a cultural reckoning. The West must reject the victim-blaming mindset that Larchevêque decries, telling crypto entrepreneurs they "asked for it" by succeeding. Instead, we should celebrate their ingenuity while ensuring their safety. In the U.S., Trump's policies, like tariffs to protect American industries and a hardline stance on crime, offer a blueprint. France could learn from this: value national sovereignty, secure borders, and empower citizens to fight back. Noizat's warning that "wealthy entrepreneurs from other industries could also be targeted" if nothing is done, should galvanise action, not excuses.
France's crypto kidnappings are a wake-up call for the West. The "Mexicanisation" feared by Larchevêque isn't just a French problem, it's a spectre haunting every nation that lets globalism erode its foundations. From Paris to Portland, the signs are clear: rising crime, emboldened gangs, and governments too weak to respond. The nationalist movements, with a focus on strength, sovereignty, and putting citizens first, is the antidote. We need leaders who'll crush organised crime, secure borders, and protect the innovators driving our future, not leave them vulnerable to machetes and getaway vans.
"The chilling video clip of an attempted kidnapping – in broad daylight, in the heart of Paris – has sparked urgent calls for increased security following recent kidnappings in France of individuals holding crypto-assets.
The calls came after footage of a botched kidnapping on a quiet street in Paris's 11th arrondissement (district) was posted online Tuesday.
The footage showed three masked men wrestling with a couple on a Parisian sidewalk as the man hoarsely screams, "au secours", help in French. The man's cries are immediately heard, with residents and passers-by yelling as the couple vigorously resist attempts by their attackers to drag them into a getaway van parked right by the scene.
A man from a nearby shop then rushes out to help, brandishing a fire extinguisher. As pandemonium ensues, the attackers abandon their attempt to abduct the woman, and flee into the getaway van. As the vehicle departs, the plucky man with the fire extinguisher flings the red can in his hand at the van.
Police later recovered the abandoned van, which contained a BB gun. An investigation and a search for the perpetrators has been launched.
The woman who escaped the kidnapping attempt has not been named. She was identified as the 34-year-old daughter of the CEO and co-founder of Paymium, a French cryptocurrency exchange platform, who was with her partner and child at the time of the attack.
The man with the fire extinguisher, identified as a neighbourhood bicycle shop owner, Nabil, has been hailed as a local hero for helping thwart the kidnapping. "I rushed over with that object, not knowing exactly what I was going to do with it. But I feel like it ended the altercation. So I achieved my goal," he told Reuters.
The goal of ensuring the security of individuals with crypto assets in France however is not being met, according to critics. Hours after the video clip was posted online Tuesday, the business partner of a cryptocurrency firm boss who was abducted in January in the Gers region in southwestern France, posted an impassioned plea on X.
Eric Larchevêque is the business partner of David Balland, co-founder of the Ledger crypto firm who had his finger cut off by the kidnappers.
In a lengthy message in French on X, Larchevêque called for a "stop to the Mexicanisation of France" in a stab at what he called the "laxity" of law enforcement.
"For several months now, horrifying cases of kidnappings and attempted kidnappings have been multiplying. In broad daylight. In the heart of Paris. Before everyone's eyes," wrote Larchevêque.
"And what do we get in response? That we should have maintained a low profile ... That we were asking for it," he continued.
Responding to the concerns, French Interior Minister Bruno Retailleau said he would meet industry professionals on Friday to discuss how to prevent future kidnappings and raise risk awareness.
"I will assemble businesspeople working in cryptocurrencies, and we have a few of those in France, at the interior ministry to work with them on their security," Retailleau told the Europe 1/CNews broadcaster.
The security fears of cryptocurrency owners are justified, say cybersecurity experts. Victim-blaming is rife when it comes to crimes targeting individuals perceived as being flashy influencers on social media, which is far from reality. Meanwhile the attackers are typically lowly gang members looking for a quick fortune. They also make amateurish mistakes on the job.
No rules, no authority, 'total' vulnerabilityThe targeting of cryptocurrency figures comes amid a rise in organised crime and a wave of prison attacks purportedly carried out by narcotics kingpins, which has boosted support for the far-right in France.
On May 1, the father of a French crypto player was kidnapped for ransom in Paris and was rescued by police days later, missing a finger.
The attackers kidnapped the victim to force his crypto-millionaire son, based in Dubai, to pay a ransom. Police arrested seven people after a raid to free the man.
It came months after Balland was kidnapped for ransom along with his wife. The Ledger co-founder lost his finger before being rescued.
"It's a sector where there are no rules, no authority. This freedom now comes at a price: isolation and fear," explained FRANCE 24 business correspondent Mounia Ben Aissa Kacem. "When you hold several million, or even billions, in a single digital wallet, you are totally vulnerable. Unlike a bank account, you can't stop payments on a crypto wallet. If you give up your security key, that's it. The funds disappear in just a few clicks – for good," she added.
"That's precisely what exposes crypto bosses. Cryptocurrency is a fascinating sector that inspires many fantasies, not least the possibility of making a fortune very quickly," noted Ben Aissa Kacem.
A common public misconception is that the recent crypto-rich victims of such crimes are influencers displaying their affluent lifestyles on social media, said Renaud Lifchitz, a cybersecurity and cryptocurrency expert, on FRANCE 24's "Economie" show.
But that's "a preconceived idea", he noted. "When you look at the profile of the latest victims, they were more business leaders than young influencers showing off their cars on social media… The real problem isn't the display, but rather the people we know who are rich because they're entrepreneurs, because they've made a fortune, because they have a business," he explained.
'Amateur' criminals making 'a lot of mistakes'While the targeted cryptocurrency bosses appear to be educated entrepreneurs, the profile of their attackers is mostly low-level criminals, according to Lifchitz.
"These are often very young people who are literally paid by the job," said Lifchitz. "They're really amateurs who make a lot of mistakes. As you can see in the video [of Tuesday's attack], they're disorganised, they're thwarted by a fire extinguisher."
The masterminds of such attacks are "a little more seasoned", said Lifchitz. They "often operate from a distance, so they're a little harder to find. They may even be abroad or in prison, as in the case of drug trafficking bosses", he noted.
But while they may be older and more experienced criminals than the hit-men they hire for the job, the masterminds are often not technically savvy, said Lifchitz.
"They make a number of mistakes," he said, noting that none of the perpetrators of the latest kidnappings managed to make any money from their crimes. "It's because there was an accumulation of errors. They asked for money, for example in stable currency, typically in dollar equivalents. These are currencies that can be frozen remotely."
Blockchains, or distributed databases to exchange and mine cryptocurrencies are "not a panacea", said Lifchitz, "because any cryptocurrency can be traced, and operates on a public register that is open to law enforcement agencies. So it's very easy to trace these funds when they change hands, when they change wallets or when they go on cryptocurrency exchanges on which they can be sold. So, all you have to do is prevent the exchanges."
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