David Balland was abducted, with kidnappers demanding a crypto ransom, but was freed by French elite police.
The Abduction of Ledger Co-Founder, David Balland
David Balland, a co-founder of the cryptocurrency company Ledger, was kidnapped from his home in central France on January 21. He was taken to a separate location, where captors demanded an undisclosed ransom in cryptocurrency.
Successful Rescue Operation
On January 22, France’s elite tactical police, GIGN, executed a rescue operation, freeing Balland safely. The Paris prosecutor’s office confirmed Balland received immediate medical attention, and investigations are ongoing to apprehend the culprits.
Ledger’s Prominent Role in Crypto
Ledger, founded in 2014, is a major player in the cryptocurrency industry. The company produces hardware wallets, essential for secure digital asset storage. It has raised $380 million and reached a $1.5 billion valuation. Balland previously served as the site director for Ledger’s Vierzon factory.
Rising Crypto-Related Crimes
The Balland case highlights increasing crimes targeting the crypto community. In 2024, Canadian influencer Mirshahi was kidnapped and later found dead, and WonderFi’s CEO was abducted for a $1 million ransom. In the U.S., a federal jury convicted Remy St Felix for orchestrating violent crypto-related home invasions.
The Need for Enhanced Security
While Balland’s rescue is a positive outcome, it underscores the importance of security for individuals in the cryptocurrency space. Heightened awareness and protective measures remain critical in addressing this growing threat.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
