In a major turn of events, Moroccan authorities have arrested Badiss Mohamed Amide Bajjou, a 24-year-old French Moroccan man.
Bajjou is accused of being the mastermind of the string of crypto-related kidnappings in France. French and Moroccan authorities achieved a breakthrough. Their efforts target organized crime in the crypto sector.
Ringleader Captured in Tangier
Bajjou, the suspected leader of the kidnappings, was arrested in Tangier. The General Directorate for National Security carried out the capture in northern Morocco.
At the time of his arrest, authorities found multiple mobile phones, bladed weapons, and a stash of cash in his possession.
His capture followed an Interpol red notice. It was issued in 2023 and linked him to serious charges, including abduction, false imprisonment, and hostage-taking.
French Justice Minister Gérald Darmanin welcomed the development. He described it as “excellent judicial cooperation” between France and Morocco.
Crypto Executives Under Siege
The arrest also sheds light on a disturbing trend in France. There, crypto executives and their families are being targeted in a series of kidnappings due to their perceived wealth.
The most recent incident happened on 13 May. At that time, a group of attackers attempted to kidnap the pregnant daughter and grandson of Pierre Noizat, the CEO of Paymium.
The attack happened in broad daylight in Paris’ 11th district. Fortunately, Noizat’s daughter and her husband resisted with the help of bystanders. All of them forced the attackers to retreat into a getaway van.
Just ten days earlier, on May 3, Paris police rescued the father of another crypto entrepreneur. He had been held hostage in a €7 million ($7.8 million) ransom scheme.
Back in January, David Balland, co-founder of Ledger, was kidnapped along with his wife. During their ordeal, Balland’s finger was reportedly cut off to force him to give up his private keys.
Also Read: Pi Coin at Risk? Why $0.61 Is a Make-or-Break Level
How the Crypto Space Became a Target
The increase in crypto-related kidnappings has been a source of alarm among law enforcement and industry stakeholders alike. This is especially true with digital assets becoming more valuable and accessible.
Criminals are now shifting from cyberattacks to more violent methods like wrench attacks. There, victims are forced at knifepoint/gunpoint to transfer crypto.
Crypto security expert Jameson Lopp, co-founder of Casa, pointed out that
“These attacks are a brutal reminder of how physical security and digital security are now intertwined.”
The Youth Factor in Organized Crime
According to French police, the kidnappings weren’t isolated events. Authorities have charged 25 individuals, including six minors, in connection with these crimes.
Many of these suspects are reportedly from France, Angola, Senegal, and Russia. Ambroise Vienet-Legue is the defense attorney representing an 18-year-old suspect in one of the cases.
He said that the allure of quick cash drew in many young people. They were then pulled into crimes they didn’t fully understand. He has called on the court to consider the youth and inexperience of some defendants when delivering judgments.
A Second Suspect Still at Large
While Bajjou’s arrest marks a major success, the investigation is far from over. Authorities are still searching for another French-Moroccan man in his forties, who is regarded as a top recruiter in the kidnapping ring.
He allegedly lured young men online with promises of easy money in exchange for kidnapping selected people. He is also wanted for attempted murder and the 2023 kidnapping of a crypto entrepreneur’s mother.
So far, two police warrants have been issued for his arrest, and efforts to track him down are ongoing.
