David Balland, co-founder of Ledger, was released yesterday after being kidnapped from his home in Vierzon, France.
According to Reuter’s report, the kidnappers were “extremely well organized” and asked for a large ransom in cryptocurrency, but authorities have not confirmed yet if the money was paid.
Balland was kidnapped on Tuesday morning and was kept captive for approximately 24 hours. He was released last night after a rescue mission conducted by an elite French police unit, assisted by cybercrime and organized crime divisions of the Paris prosecutor.
Balland is currently receiving medical treatment for injuries sustained during his kidnapping. Details about his condition have not been disclosed.
The Paris prosecutor’s office is currently investigating the situation in order to identify and arrest the abductors. Ledger has not said anything about the event yet.
Meanwhile, violent crime in the crypto space is becoming frequent. Ransomware hackers received more than $1.1 billion in cryptocurrency payments in 2023, according to Chainalysis.
In recent years, there have been a number of high-profile kidnappings and robberies of cryptocurrency holders in locations such as Hong Kong and the United States.
The rumours of Balland’s kidnapping had been spreading on social media before it was confirmed he was released. Initially, people thought it was co-founder ERIC Larch who was kidnapped.
Jameson Lopp, a co-founder of self-custody service Casa, posted on X that, “We have no good intel on what has occurred, but Ledger’s silence unnerves me.” French authorities are still investigating, but no arrests have been made so far.
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