Crypto-Related Violent Crimes Surge in France, With 41 Cases This Year
Summary
- France is seeing a sharp increase in wrench attacks, including kidnappings and extortion, targeting cryptocurrency holders.
- Joe Nakamoto said about 70%% of global cryptocurrency-related wrench attacks occur in France.
- He cited the risk of KYC data leaks at centralized exchanges and service providers as a reason for the surge in such crimes.
Forecast Trend Report by Period
Violent crimes targeting wealthy cryptocurrency holders, including kidnappings and extortion, are surging in France, according to an analysis. The industry has identified the risk of leaks of centralized know-your-customer, or KYC, data as a main factor.
Wu Blockchain reported on May 24 that crypto analyst Joe Nakamoto said about 70% of crypto-related "wrench attacks" worldwide occur in France. A wrench attack is a crime in which victims are physically threatened or kidnapped and forced to transfer their assets.
France has recorded 41 crypto-related kidnapping cases so far this year, according to Nakamoto. That amounts to roughly one wrench attack every 2.5 days. He cited the risk of KYC data leaks at centralized exchanges and service providers as a driver of the increase in such crimes.
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