Centralized data collection is a honeypot for hackers and organized criminals looking to target crypto holders and their families, according to Bitcoiners. About 70% of all wrench attacks, physical attacks against crypto holders and their families, carried out in an attempt to steal digital assets, occur in France, according to Bitcoin journalist Joe Nakamoto. There have been 41 crypto-related kidnappings in France so far in 2026, Nakamoto said, or about one attack every two and a half days, he added. He attributed the rise in wrench attacks to know-your-customer data collection, which is stored in centralized servers that were compromised in several high-profile data leaks, including the 2020 leak of hardware wallet provider Ledger’s customer data. Read more
French law enforcement agencies have been investigating wrench attacks and found that some of the alleged offenders were involved in multiple incidents At least 88 people, including ten minors, have been indicted in connection with alleged wrench attacks against crypto owners in France, according to Vanessa Perrée, the country’s national prosecutor for organized crime. Perrée said in a statement on Friday that 75 of the alleged offenders are being held in pre-trial detention, with the arrests related to 12 cases currently under investigation by specialized investigating judges of the Paris Judicial Court and monitored by the National Prosecutor's Office for Organized Crime (PNACO). Wrench attacks involve the use of physical force to gain access to a victim’s crypto wallet and have taken the form of home invasions, kidnappings and other extortion attempts. Read more
A Bank of France official called for tighter MiCA rules on non-euro stablecoins as lawmakers advance reporting requirements for self-custodial crypto wallets above 5,000 euros. French officials are pushing for tighter oversight of crypto from two directions, as a Bank of France official called for stricter limits on non-euro stablecoins under the European Union’s Markets in Crypto-Assets Regulation (MiCA), and lawmakers in Paris advanced a separate reporting requirement for some self-custody holdings. Denis Beau, First Deputy Governor of the Bank of France, delivered a speech at the EUROFI High Level Seminar in March, calling on the EU to restrict the use of stablecoins for payments, particularly those pegged to non-euro currencies. Published on the Bank for International Settlements (BIS) website on Thursday, he said the Bank of France has been “pressing for a strengthening” of MiCA in this regard. Read more
Crypto ETN adoption is spreading across Europe as banks expand offerings and the UK reopens retail access after lifting its ban. French multinational universal bank BNP Paribas is expanding its investment offering to include six crypto-linked exchange-traded notes (ETNs), giving retail clients in France access to Bitcoin and Ether exposure through regulated products. The new ETNs, indexed to the price of Bitcoin (BTC) and Ether (ETH), will be available from Monday via standard securities accounts, according to the company. The products are open to individual investors, entrepreneurs, private banking clients and users of the bank’s digital platform, Hello bank!. The rollout may later extend to wealth management clients outside France. Unlike direct crypto purchases, ETNs allow investors to track the performance of digital assets without holding them. ETNs have credit risk (if the bank fails, you lose money), no tracking error and tax advantages. Read more