French authorities opened a preliminary probe this week after a breach at Waltio. The Paris Public Prosecutor’s Office and the country’s National Cyber Unit are investigating the incident.
Shiny Hunters reportedly demanded a ransom after seizing personal data from about 50,000 users, linked in a separate report reported. Most affected users were based in France, and authorities warned they face targeted extortion.
Officials warned victims could face “kidnappings and unlawful detentions,” or threats against relatives to force transfers of crypto holdings. Such crimes, sometimes called a wrench attack, force people to transfer their digital assets.
French regulators also told crypto firms to comply with the MiCA transition period ending June 30. A related video discusses broader crypto trends and policy shifts.
