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I think that the apparent paradox is just a problem of not understanding two separate correlations. In general, people being able to defend themselves will lower crime rates. It should start with a lowering of successful crimes as the crimes are interrupted by the self-defense, followed by a decrease as the criminals become aware of the self-defense attitudes.

By the same token, open carry will deter crime in your personal area. Criminals will generally look for an easier target. But there are times when criminals have decided to commit a crime and you happen to be there carrying openly. In those cases, you may become a target as they realize your potential to interfere with their plans. As evidence of the potential for open carry to make you a target, I will point out how many bank guards were targeted by robbery teams because they knew they would be there and armed. I do not have numbers to cite for this, because violent bank robbery is a rare event to begin with and shootings of guards was even more rare.

This is how openly carrying a pistol may reduce crime and make you a target at the same time. As with most other paradoxes, it is really a matter of confusing two or more separate issues or events.