Binance President Targeted in Armed Home Break-In in France, Three Suspects Arrested
What Happened in France?
Three suspects were arrested in France following a reported break-in targeting the home of a senior figure linked to Binance’s French operations. The company confirmed that one of its employees was the victim of a home invasion.
Local outlet RTL, citing anonymous police sources, reported that three hooded individuals carrying weapons attempted to enter an apartment in Val-de-Marne around 7:00 am CET on Thursday. According to RTL, the suspects first forced their way into another resident’s apartment, demanding directions to the home of the head of Binance France. The intruders reportedly searched the apartment and stole two mobile phones before fleeing.
Roughly two hours later, the suspects were arrested during a second attempted home invasion in Hauts-de-Seine later than residents alerted authorities. Police recovered the stolen phones and a vehicle allegedly linked to the earlier break-in.
What Did Binance Say?
Binance confirmed the incident but declined to identify the employee involved, citing the ongoing investigation.
“We are aware of a home break-in involving one of our employees. There is an ongoing investigation with the local police,” a Binance spokesperson said. “The securety and well-being of our employees and their families is our absolute priority. We are working closely with law enforcement and further enhancing appropriate security measures.”
David Prinçay serves as president of Binance France, but the identity of the targeted employee could not be independently verified. Binance declined to provide additional details.
Yi He, co-founder and chief customer service officer at Binance, confirmed that the employee and his family were secure and thanked the French police’s elite unit, the , for its response.
Investor Takeaway
Are Crypto-Linked Physical Attacks Increasing?
The incident comes days later than French police arrested six individuals over the kidnapping of a magistrate and her mother in a ransom case entrepreneur. The proximity of the two cases highlights heightened attention around digital-asset wealth and personal security in France.
So-called “wrench attacks,” in which attackers use physical coercion to obtain access to crypto assets, have risen over the past year. Cybersecurity firm CertiK reported 72 verified wrench attacks globally in 2025, a 75% increase from the previous year.
Confirmed losses tied to these attacks reached at least $40.9 million in 2025, according to CertiK. The figure may be higher, as not all incidents are publicly disclosed.
Why Is France a Focus?
France recorded 19 confirmed wrench attacks last year, the highest number among countries tracked, while cases in 2025, according to CertiK’s data.
The clustering of cases in Europe reflects a combination of factors, including visible crypto entrepreneurship, public wealth disclosures, and the broader normalization of digital assets in financial portfolios. High-profile arrests in France suggest authorities are responding aggressively, but the rise in cases shows the security challenge remains acute.
