- Binance CEO highlights rising crypto kidnappings shaking France’s security.
- France grapples with crypto crime surge, Binance faces investigation.
- Zhao hopes Notre-Dame restoration helps improve France’s troubled image.
Changpeng Zhao, former CEO of Binance, has raised serious concerns about France’s worsening state, particularly due to its ongoing crypto-related crime surge. Zhao addressed an alarming number of cases of cryptocurrency-related kidnappings and condemned recent developments, such as the scandalous arrest of Telegram CEO Pavel Durov. Regardless of these problems, Zhao said that he was optimistic that France would improve in the future.
France is now a place where high-profile kidnappings in the cryptocurrency industry have occurred. In an outrageous scenario, the co-founder of Ledger, David Balland, had been kidnapped in his house with the kidnappers demanding a ransom of 10 million EUR. Balland seriously suffered in the incident, losing a finger before being taken to safety by French security forces.
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In a different case, the father of an affluent cryptocurrency investor was kidnapped, and the police released him. These warning developments are just a part of the increasing trend of crypto-crime in France. Law enforcement has arrested approximately 25 suspects related to the kidnappings, and additional security protocols are currently being enforced to protect the crypto industry.
Ongoing Legal Scrutiny as France Struggles to Address Crypto Crime Surge
Zhao’s comments coincide with an ongoing investigation into Binance by French authorities, which started in early 2025. The investigation into the crypto giant is another source of conflict between France and the crypto sphere, which contributes to the country’s poor image in dealing with digital finance.
Even the criticisms notwithstanding, Zhao took time to find a good thing in France. He mentioned that Binance was initially engaged in the renovation of the renowned Notre-Dame Cathedral, which had been severely damaged by a fire in 2019. The medieval twin towers of the cathedral have been reopened after five years of restoration.
Zhao expressed hope that such efforts could help improve France’s image and contribute to the country’s long-term recovery.
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