Key Takeaways
- David Balland and his wife were kidnapped in Vierzon, France, on Tuesday.
- Due to the danger to their lives, the media was asked to withhold reporting on the kidnapping for 48 hours.
Share this article
French police have successfully rescued David Balland, co-founder of Ledger, the leading crypto hardware wallet, and his wife who were kidnapped by a violent group in Vierzon, France, on Tuesday, according to French outlet Le Parisien.
“Mr. Balland was taken care of by emergency services and must receive medical treatment,” the Paris prosecutor’s office said.
Gregory Raymond, head of research and co-founder of The Big Whale, a Paris-based web3 outlet, confirmed the information. Initial rumors on X incorrectly identified Ledger’s other co-founder, Éric Larchevêque, as the target, Raymond said in an earlier statement.
According to the Paris prosecutor’s office, the kidnappers made Balland and his wife get into a car and drove them to two separate locations where they were held in captivity. The kidnappers then demanded a large crypto ransom and reportedly sent a finger as part of their demands. Sources told Le Parisien that it belonged to Balland.
The National Gendarmerie Intervention Group, France’s elite police tactical unit, conducted a high-stakes operation and successfully rescued Balland late Wednesday, the report said. His wife was released on Thursday afternoon after being held captive in a town in Essonne.
The media was asked to refrain from reporting on the kidnapping for 48 hours due to the sensitive nature of the situation and the risk to Balland’s life, according to Le Parisien.
The investigation was first handled by the prosecutor’s office in Bourges. However, due to its complex nature, the case was quickly transferred to the Paris Inter-specialized Jurisdiction (JIRS). The suspects were believed to have ties to organized crime, which falls under the jurisdiction of JIRS.
Multiple suspects linked to a criminal organization have been arrested in connection with the kidnapping. Police are working to identify and arrest all those responsible, who could face life in prison.
Balland co-founded Ledger in 2014 in Vierzon, alongside seven other experts. Prior to Ledger, he launched Chronocoin, an online platform for Bitcoin purchases. Balland’s position at Ledger and close proximity to Larchevêque could have made him an attractive target.
The mayor of Méreau told Le Parisien, “It must be a pretty serious incident, because I’ve never seen anything like it in my town.”
This is a developing story.
Share this article
