Last week, an unsuccessful kidnapping in Paris targeted the daughter and granddaughter of a cryptocurrency entrepreneur, increasing the alarming trend of attacks on cryptocurrency industry figures in France. Since January 2025, three kidnapping incidents have been reported involving individuals connected to the cryptocurrency industry.
Cryptocurrency-related violence is not limited to France. Globally, cryptocurrency leaders are increasingly becoming top targets.
This highlights the dark side of the cryptocurrency boom, where massive wealth attracts both opportunities and dangers. Beyond kidnappings, mysterious deaths of prominent figures have also troubled the cryptocurrency industry in recent years.
Nikolai Mushegian
Nikolai Mushegian was a famous software engineer and cryptocurrency developer. He was one of the first contributors to the MakerDAO (now Sky) project, behind the Dai stablecoin (upgraded to Sky Dollar). Mushegian was also a co-founder of Balancer Labs.
The 29-year-old man was found dead in Puerto Rico, near Condado Beach in San Juan, on October 28, 2022. The cause of death for the cryptocurrency millionaire was determined as drowning, but the circumstances quickly sparked heated discussions due to his mysterious final social media posts.
Just days before his death, Mushegian posted concerning messages on X (formerly Twitter), indicating he feared for his life.
"3 possibilities for my future 1) killed by CIA 2) brain-damaged slave asset by CIA 3) worst nightmare of those who have troubled me so far, I'm sure these are the only options," Mushegian wrote in September 2022.
The tragic nature of Mushegian's death also led to various conspiracy theories.
"Maybe I'm just wearing a tin hat, but in my opinion, Nikolai told the truth in his tweet, and was then killed as a lesson to anyone else in a similar situation," a Reddit user posted.
However, police found no evidence to prove the theory that he was intentionally harmed. It's also worth noting that Condado Beach, where the incident occurred, is notorious for dangerous currents and strong waves. The beach has a history of fatal accidents. Therefore, his death was officially considered an accident.
Fernando Pérez Algaba
Fernando Pérez Algaba was an Argentine cryptocurrency entrepreneur and millionaire. He was known for driving luxury cars and living a lavish lifestyle, which he often shared with his Instagram followers. Unfortunately, Algaba passed away in July 2023 at the age of 41.
On July 23, authorities were alerted when children playing near a stream in Ingeniero Budge, Buenos Aires province, discovered a red suitcase containing dismembered body parts. Police examined the suitcase and found the victim's legs and calves inside, while the other arm was found in the stream.
Three days later, on July 26, authorities found the missing head and torso. A subsequent autopsy revealed that the victim had been shot three times before being dismembered.
Local media reported that Algaba had been missing since July 18. The apartment owner he had rented in the Buenos Aires suburbs reported that he did not return the keys and did not answer calls.
According to the New York Post, Algaba had received threatening messages in the week before his death. He also owed a large sum to Argentina's tax agency. Moreover, Algaba had some conflicts with a notorious local gang demanding 40,000 USD from him.
Additionally, Algaba left a note on his phone stating that he had lost a large amount in cryptocurrency investments.
"If something happens to me, people have been warned," the note read.
At the time of the investigation, police had arrested a suspect related to Algaba's death. However, details about the suspect and the investigation process have not been fully disclosed.
Mircea Popescu
Mircea Popescu was a Romanian-born Bitcoin maximalist and blogger. He was recognized for his early involvement in cryptocurrency and controversial online presence. His uncompromising views on Bitcoin's value and disdain for Centralized Finance earned him the title "Father of Toxic Bitcoin".
As an entrepreneur and libertarian, Popescu was very active on the Bitcointalk forum and launched Mpex, a Bitcoin exchange, in 2012. However, this exchange was reportedly under investigation by the US Securities and Exchange Commission (SEC).
Popescu passed away in June 2021 at the age of 41. He was reported to have drowned while swimming off the coast of Costa Rica. Rumors suggested that Popescu held over 1 million BTC at the time of his death.
"Mircea Popescu passed away last week. He was not an easy person to like but taught me a lot about Bitcoin. What I remember most is that he always emphasized that newcomers should observe for 6 months before saying anything. We would have stronger communities if this were a tradition," entrepreneur Riccardo Spagni posted on X.
The death of this cryptocurrency kingpin marks the end of an era for one of the most controversial figures in the cryptocurrency world. His legacy continues to spark debate, with some viewing him as a pioneer and others seeing him as a divisive figure who significantly shaped early Bitcoin culture.
