Chainalysis CEO offers a clue into the recent spate of Paris crypto attacks
Criminal organizations continue to underestimate the traceability of cryptocurrency, leading to a rise in crypto-related kidnappings, according to Chainalysis CEO Jonathan Levin. Law enforcement has successfully traced stolen funds and ransom payments, resulting in numerous arrests. Recent kidnappings in Paris include an attempt on the family of Paymium's CEO and the rescue of a crypto entrepreneur's father from a €7 million plot. France's interior minister is addressing security concerns with crypto professionals. Levin emphasizes that the perception of untraceability fuels criminal activity, but successful law enforcement actions demonstrate that crypto crime is not profitable. Despite some successes, the situation remains dire, with 22 recorded incidents of in-person crypto theft this year. Increased caution regarding personal information online is advised to mitigate risks.
