Key Takeaways
- Chainalysis CEO says criminals mistakenly believe Bitcoin is untraceable.
- Two high-profile crypto-related kidnappings occurred in Paris this month.
- France's government is engaging with the crypto industry over rising threats.
Two high-profile crypto-related kidnappings in Paris this month may be rooted in a major misconception: that Bitcoin is untraceable.
Chainalysis CEO Jonathan Levin addressed the issue during the 2025 Consensus conference, arguing that some organized crime groups still believe Bitcoin transactions can’t be tracked.
Levin said:
For whatever reason, there is a perception… that crypto is an asset that is untraceable. Apparently, the know that crypto is not untraceable hasn’t been received by some of the organized crime groups… concentrated in, you know, France, but not exclusively.
Recent kidnapping incidents
The comments follow two attempted kidnappings targeting crypto executives’ families in Paris.
On May 13, three attackers tried to abduct the daughter and grandson of Paymium CEO Pierre Noizat.
Earlier, on May 3, police rescued the father of another crypto entrepreneur from a €7 million ($7.8 million) ransom plot.
Government & industry response
In response, France’s interior minister has met with crypto industry leaders to address rising safety concerns.
Traceability & law enforcement success
Levin emphasized that crypto ransoms are increasingly traceable and recoverable, noting that law enforcement has made…
… a lot of arrests.
He added that attacks aren’t always profitable and often result in criminal networks being held accountable.
Levin said:
There is the ability to potentially recover some of those payments as well.
Ongoing threats & precautions
Despite progress, Levin warned that physical attacks remain a threat and urged individuals to limit personal information shared online.
