Binance Employee Targeted In Paris Wrench Attack: France Becomes A Hotspot For Crypto Kidnapping Crimes

Three masked assailants targeted Binance France CEO David Prinçay in a failed home invasion on 12 February  2026, in the Paris suburbs of Val-de-Marne, entering the wrong residence before stealing phones and injuring a woman. The targeting of President of Binance France is yet another escalation in physical crypto crime.

French authorities have already arrested the three suspects at Lyon Perrache station following the botched operation.

Binance confirmed in a statement that “one of our French employees” and family members are safe and cooperating with law enforcement, with an investigation ongoing. Neither Prinçay nor police have released further details.

BREAKING

Binance France’s CEO David Prinçay was just targeted in a home invasion. pic.twitter.com/VOPf7Ewn9G

— Evan Luthra (@EvanLuthra) February 13, 2026

This isn’t an isolated event. France has unfortunately become a hotspot for these crimes, largely due to organized gangs utilizing leaked data to locate high-net-worth individuals. The rising crypto kidnapping cases in France proves that digital wealth can attract very physical danger.

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Real-World Risks of Self-Custody and Visible Wealth

Why are crypto investors being targeted like this? It comes down to the double-edged sword of “being your own bank.” When you hold crypto in self-custody properly, no hacker can touch it remotely. But that security model assumes you are physically safe. Criminals know that if they can physically coerce you (often called the “$5 wrench attack”), they can force an irreversible transfer instantly.

“Wrench attacks” mark a tactical evolution in crypto crime, with criminals leveraging blockchain transparency and social media to identify high-value targets.

This risk is amplified by the transparency of the blockchain. If your identity gets linked to a wallet with significant funds, perhaps through a data leak or social media bragging, you can become a walking target. This logic applies to everyone, not just executives. Recently a UK wrench attack resulted in jail time, showing this happens to regular holders too. Even ransom scams targeting individuals rely on the fear that you have assets you can’t protect comfortably. It’s a reminder that OpSec (Operational Security) isn’t just about strong passwords; it’s about keeping a low profile.

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Consider Using Multi-Signature Wallets Or Timelocks For Large Amounts To Tackle Crypto Crime

So, how do we stay safe? First, never advertise your crypto holdings online or in person. If nobody knows you have it, nobody comes looking for it. Second, consider using multi-signature wallets or timelocks for large amounts.

Even industry leaders emphasize this level of awareness. CZ and Yi He discussed fund safety recently, emphasizing on proper custody practices for everyone in the ecosystem.

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