David Balland, co-founder of Ledger, a French crypto hardware wallet manufacturer, was rescued after being kidnapped in central France on January 21, according to a January 23 report from Bloomberg.
David Balland Freed Following Dramatic Crypto Kidnapping
Reports indicate that Balland was abducted from his home in central France on the morning of January 21 and taken to an undisclosed location. Balland’s wife was also reportedly abducted but was later rescued by authorities in the Essonne region.
The Paris prosecutor’s office stated that the kidnappers demanded a substantial cryptocurrency ransom. Balland was released during a police operation at an undisclosed location on the evening of January 22.
French prosecutors reported that he is receiving emergency medical treatment following the incident. The status of his wife remains unclear at the time of publication.
Ledger Silent on David Balland Kidnapping
News of Balland’s rescue came amid unsubstantiated reports that fellow Ledger co-founder Eric Larchevêque had also been kidnapped, though those rumors were swiftly dismissed.
“Be careful with published information that could threaten an ongoing investigation in France and possibly someone else’s life,” French journalist Grégory Raymond said, corroborating news of Larchevêque’s safety in a Wednesday X post.
As of Thursday afternoon, at least eight arrests had been made by French police, though no names have been revealed to the public.
Founded in 2014 by eight crypto professionals, including Balland, Ledger specializes in hardware wallets for offline cryptocurrency storage.
The company, headquartered in Paris, operates a factory in Vierzon, Central France, which has sparked online speculation as a potential crime location.
According to U.S. News & World Report, Ledger raised $380 million in a funding round, giving it a valuation of over $1.5 billion.
Following reports of the incident, Casa founder Jameson Lopp expressed concern on social media, writing, “Lots of unconfirmed rumors swirling that a Ledger co-founder / executive was kidnapped for ransom. We have no reliable info on what has transpired, though Ledger’s silence makes my spidey sense tingle.”
As of January 23, the crypto hardware manufacturer had yet to release a statement on their co-founder’s kidnapping and subsequent medical treatment.
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