French police have busted a $1.8M crypto villa scam targeting a wealthy couple
French police have arrested two suspected fraudsters accused of stealing about $1.8 million in cryptoassets from a wealthy couple during a fake villa sale after a year-long investigation.
Summary
- French police have arrested a mother and son accused of stealing 1.5 million euros in crypto during a fake villa sale.
- Investigators suspect the suspects used hidden camera lenses to capture wallet details and embezzle the victims’ money.
- The case comes as France reports a steady increase in crypto-related crimes, including kidnappings and robberies.
According to the French newspaper Var-Matin, French police from the Gassin–Saint-Tropez gendarmerie arrested a mother and her son on June 25 at a rented property in Cavalaire-sur-Mer. The couple is accused of orchestrating a complex “fraudulent deal” that targeted a couple from Ramatuelle who put their apartment, worth around 10 million euros (about 12 million dollars), on the market in the spring of 2025.
According to the report, the suspects identified themselves as consultants working for a wealthy Italian buyer and invited the sellers to Milan for negotiations. There, the buyer allegedly offered to pay more than the asking price but required proof that the sellers could pay 1.5 million euros ($1.8 million) in fees related to transactions in cryptoassets before completing the purchase.
How the alleged crypto theft is carried out
French investigators say the second meeting in Milan was a turning point in the process. According to the Gassin–Saint-Tropez gendarmerie, the suspects asked to confirm that the necessary cryptoassets were available before the operation could continue.
Investigators believe they secretly obtained wallet information from victims by bugging them while using hidden cameras attached to mirrors to capture sensitive wallet information. Authorities say the suspects gained access to account information and private security keys before quickly withdrawing the money.
Following what the gendarmerie described as a long and complex investigation, officials identified the suspects despite their use of false information and their frequent travels throughout France. The defendants, who reportedly live in the Paris region and have previous criminal records for similar offences, denied the allegations when questioned by police.
The suspects were placed under the supervision of a judge and are scheduled to appear at the Draguignan Criminal Court on September 1. They face charges including organized fraud and failure to provide financial resources.
Meanwhile, French courts have ordered the seizure of three Côte d’Azur properties linked to the suspects for a combined value of 1.9 million Euros pending the outcome of the case.
France is experiencing a steady rise in crypto-related crimes
Although investigators described the incident as a classic “rip deal” rather than a violent crypto-fraud case, the alleged theft comes as France continues to record a growing number of crimes targeting digital asset owners.
Earlier this week, as reported by crypto.news, French Interior Minister Laurent Nuñez said that authorities have recorded 77 cases of kidnapping, illegal detention, robbery or attempted crimes related to the crypto sector in 2026, up from 45 cases in 2025.
Nuñez told industry representatives that the incidents were “serious issues” while saying that the emergency safety measures introduced last year had begun to produce results. He also said that around 200 people have been arrested following attacks or security operations, and 724 industry participants have registered in the French identification area, which is an increase of 11%.
Separately, crypto journalist Joe Nakamoto said previously, as reported by crypto.news, that France accounts for about 70% of reported physical attacks against crypto holders and their families.
Nakamoto also reported 41 crypto-related kidnappings in the country so far in 2026, which equates to about one incident every two and a half days. His statistics describe the so-called “crypto wrench attack,” where criminals use violence, threats, kidnapping, or home invasions to force victims or their relatives to provide access to digital assets.
Although Ramatuelle’s case relied on deception rather than physical coercion, investigators say it shows how criminals are adapting traditional fraud schemes to target cryptocurrency holders.
