David Balland was kidnapped in France and freed the next day in a police operation, with the captors demanding an undisclosed ransom in cryptocurrency.
Amid the increasing dangers faced by key figures in the cryptocurrency industry, David Balland, one of eight co-founders of the prominent French crypto company Ledger, was recently abducted from his home in central France. Balland was kidnapped early on the morning of January 21 and transported by car to a separate location, where he was held captive.
As per the statement by the Paris prosecutor’s office, the kidnappers demanded a substantial ransom in cryptocurrency, though authorities did not disclose the exact amount or confirm whether any payment was made. The ordeal concluded on January 22 when Balland was safely freed during a police operation that involved GIGN, France’s elite tactical police force.
Balland received immediate medical attention following his release. French authorities are continuing their investigation to identify and apprehend the perpetrators responsible for this crime.
Founded in 2014, Ledger has established itself as a leader in the cryptocurrency sector, specializing in the production of hardware wallets—secure physical devices used for storing digital assets. The company has grown significantly, raising $380 million in 2021, with a valuation of $1.5 billion. Ledger operates a factory in Vierzon, a small city in central France, where Balland served as the site director from 2019 to 2021.
Crypto-Related Crimes
The incident involving Balland is not an isolated case. In recent years, there has been a disturbing rise in crimes targeting individuals in the cryptocurrency space.
In 2024, a Canadian crypto influencer, Mirshahi, was kidnapped and later found dead in a Montreal park. Similarly, the CEO of WonderFi, a Toronto-based cryptocurrency firm, was abducted and held for a $1 million ransom in November 2024, though he was eventually released unharmed.
In the United States, violent home invasions aimed at stealing cryptocurrency have also been observed. In June 2024, a federal jury convicted Remy St Felix for orchestrating a series of such invasions, targeting victims across the country.
The release of David Balland marks a positive outcome in what could have been a tragic situation. However, it also serves as a stark reminder of the need for increased security measures and awareness among the crypto community.
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