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A new assault targeting a cryptocurrency holder took place in La Rochelle, France, on December 18. The attackers succeeded: they forced the victim to transfer the equivalent of $10 million before vanishing without a trace. This is the largest cryptocurrency theft ever recorded in France. Previous cases had taken the form of kidnappings for ransom, without success. This time, however, the holder himself was directly targeted. According to his testimony, the attackers claimed they knew exactly what he owned thanks to a data breach.

This has become a global business for burglars — more than 280 cases recorded according to this website — and France ranks among the most exposed countries. Moreover, starting January 1, legal obligations will tighten: cryptocurrency exchanges will be required to record and transmit all client transactions to the tax authorities, in accordance with the European DAC8 legislation. In the event that one of these platforms is hacked, such data would be a windfall for criminal networks, providing them with new “clients” to target.

Gold holders should not view this situation with detachment or contempt. In the face of rising insecurity and the growth of organized crime, all citizens owning valuable assets must go on alert. We are witnessing a form of the “Mexicanization” of our society, for which preparation is now necessary.

Added to this is a major risk: the State’s inability to protect citizens’ data. On December 16, it was revealed that several sensitive databases had been hacked, including the TAJ (Criminal Records Processing System), the FPR (Wanted Persons File), as well as tax data from the DGFiP and pension files from the CNAV, potentially affecting up to 16 million French citizens. A true catastrophe. And the State is making matters worse: an amendment adopted in committee plans to require the declaration of cryptocurrency wallets to the tax authorities starting at €5,000, subject to a final vote in the National Assembly. Should such information end up on the Dark Web, the consequences could be dramatic.

Holders of physical gold must ask themselves the right questions. Storing gold at home carries obvious risks. Using an external vault appears to be the most effective solution — ideally outside the banking system, to guard against a financial crisis or potential seizure, and located in a safe country that strictly guarantees property rights, such as Switzerland. This provides real protection against home invasions. It would indeed be regrettable to lose everything after patiently accumulating assets over several years.

Security must now be a central criterion for any gold holder, alongside price, purchase volume, portfolio allocation, intended holding period, and so on. Neglecting this aspect will become increasingly costly, as recent events starkly demonstrate.

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