David Balland, co-founder of cryptocurrency hardware wallet maker Ledger, has been released after being kidnapped from his home in France.
According to Bloomberg, Balland was kidnapped on Tuesday morning and released on Wednesday evening following a police operation, as confirmed by the Paris prosecutor’s office.
The kidnappers reportedly demanded a ransom in cryptocurrency, although authorities did not disclose the precise amount demanded.
The operation was described as ultra-sensitive, which prompted the media to remain silent while lives were at stake. For 48 hours, the national gendarmerie, reporting to the Paris prosecutor’s office, worked discreetly to locate those responsible for the kidnapping.
Some reports claim that a human finger was sent as part of the kidnappers’ ransom demand, according to Le Parisien.
After the kidnapping, Balland was allegedly transferred to another location where he was held before being released. The emergency services are now providing him with the necessary medical care, as indicated by the public prosecutor’s office.
Éric Larchbishop of Ledger
Shortly after Balland’s kidnapping, rumors swirled that another Ledger co-founder, Eric Larchevêque, had also been kidnapped.
Grégory Raymond, co-founder of La Grande Baleine, clarified that these allegations were false, confirming that Larchevêque was not involved in any kidnapping incident.
The false allegations about Larchevêque came from a social media post mentioning that a senior Ledger executive was being held for ransom. Although the post does not name Larchevêque, a photo attached to it has given rise to much speculation.
Raymond urged caution regarding unverified information, warning that misinformation could hamper ongoing investigations.
Ledger, a hardware wallet maker, was founded in 2014 by a team of eight cryptocurrency specialists, including Eric Larchevêque, David Balland, Joel Pobeda, Nicolas Bacca and Thomas France.
The company reached a valuation of $1.4 billion after a $108 million funding round in 2023.
