In a recent interview with CNBC, Taihuttu expressed that their previous reliance entirely on hardware wallets has now transitioned to a mixed approach. Taihuttu assured CNBC, “Our entire system has been transformed. Even under the threat of a gun, I could only provide what is available on my wallet or phone, which isn’t much.”

This drastic change in their security protocol is a response to the rising wave of criminal activities like kidnappings and extortion schemes targeting cryptocurrency users. Taihuttu shared that these threats have made them reevaluate and strengthen their security measures.

The family’s seed phrase has been encrypted, divided into four segments, and stored across the globe using blockchain-based services and fireproof metal plates manually etched. These plates are concealed in various physical locations around the world, eliminating potential weak spots in their security network.

In addition, Taihuttu has added a personal layer of encryption by altering some words in the seed phrase, rendering them useless without the correct context. The family, leading a nomadic life, travels worldwide to advocate for Bitcoin. The escalating threats to crypto holders have led them to stop sharing real-time updates about their location on social media.

Taihuttu revealed that about 65% of their assets are now in cold storage following their revised security model. Their hot wallets used for trading and daily expenses are safeguarded by multisignature protocols.

The rise in digital asset prices has led to a spike in crypto-related crime. High-profile incidents connected to cryptocurrency ownership have recently occurred in France, Pakistan, Australia, and Canada. This includes a series of kidnappings, tortures, and extortion schemes targeting crypto investors and their families.

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Retailleau assured that measures including regular police checks at the residences of cryptocurrency investors, exclusive police briefings for family members of crypto holders, and a dedicated helpline for investors feeling threatened, are soon to be implemented. He pledged the government’s resolve to curtail these heinous acts, akin to its successful efforts in the past to halt bank and jewellery thefts.

The French government’s actions come in the wake of disturbing events where family members of affluent cryptocurrency investors were targeted by criminals. The authorities will now provide a suite of new protective measures to ensure the safety of investors. The rising threat of violence against crypto investors has raised concerns among French authorities about potential brain drain from the country if entrepreneurs are unable to operate their businesses without fearing for their personal safety.

Among the measures to be introduced, Retailleau mentioned a new training program for law enforcement officials, focusing on “anti-crypto asset laundering”, to tackle the growing menace of crypto abductions.

In a shocking incident, a crypto entrepreneur’s daughter was seen being forcefully pulled into a van by masked men. The entrepreneur, Pierre Noizat, the CEO and founder of Bitcoin exchange Paymium, reported that his son-in-law sustained serious injuries during the incident. Noizat criticised the government’s current efforts, expressing fear that without immediate action, similar incidents will continue to plague the crypto community.

The attempted abduction took place in a wealthy neighborhood in the 11th arrondissement of Paris. Noizat hailed his daughter’s husband for his resistance and a shopkeeper who bravely chased the kidnappers away. Despite the traumatic incident, Noizat expressed gratitude for the courage shown by bystanders.

In another incident, a wealthy cryptocurrency investor was freed from a car trunk after being tortured and soaked in gasoline. The victim was abducted in broad daylight and his finger was severed by the kidnappers to pressure his family into paying a $4 million ransom. These incidents seem to follow a similar pattern, prompting French authorities to ramp up efforts to curb the escalating situation.

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Bruno Retailleau, the Interior Minister of France, introduced these security tactics as part of a broader initiative to combat the increasing series of attacks. He asserted, “The crypto sector will shield itself from the reoccurring kidnappings of professionals using specific tools. These tools, both immediate and short-term, aim to prevent, deter and obstruct to safeguard the industry.”

Retailleau also revealed that law enforcement officers would participate in “anti-crypto asset laundering training”. Following three recent crypto-related kidnapping incidents, Retailleau convened with several local crypto industry leaders to discuss these measures.

The most recent attempt took place on May 13. Assailants targeted the daughter and grandson of Pierre Noizat, CEO of Paymium, a French cryptocurrency platform. Fortunately, the intended victims successfully resisted the attack, which took place in broad daylight. The assailants tried to force them into a waiting van, but Noizat’s daughter disarmed one of the attackers and discarded the weapon, according to local police.

On May 3, the father of a crypto entrepreneur was rescued by Paris police after being held captive for several days in a €7 million ($7.8 million) kidnapping scheme. In January, David Balland, co-founder of crypto hardware wallet provider Ledger, was kidnapped from his home in central France and was held until a police operation enabled his release on the night of Jan. 22.

Retailleau suggested earlier this week that these incidents are likely linked. Since 2014, there have been over 150 crypto-related robbery or kidnapping incidents. In 2025 alone, 23 such incidents took place according to a GitHub database managed by Bitcoin cypherpunk Jameson Lopp. Lopp noted that these criminals often identify potential victims through social media, public discussions, meetups, and conferences. He strongly advises against peer-to-peer transactions, especially with unfamiliar parties, flaunting wealth on social media, and wearing crypto-themed attire.

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