Crypto exec rescued in French kidnapping drama
Ledger co-founder David Balland freed by police after harrowing 24-hour ordeal
David Balland, a co-founder of Ledger, one of France’s leading cryptocurrency companies, has been rescued after being kidnapped and held for ransom. The Paris prosecutor’s office revealed details of the ordeal, which unfolded earlier this week.
The incident began on Tuesday morning when Balland and his wife were abducted from their home in central France. They were transported to another location and held captive while the kidnappers demanded a significant ransom in cryptocurrency. Authorities have not disclosed the exact amount or whether any payment was made.
After nearly 24 hours in captivity, Balland and his wife were freed in a rescue operation led by the National Gendarmerie and its elite tactical unit, GIGN. Balland received medical treatment for injuries, though reports suggest he endured severe harm, including the loss of a finger, during the ordeal. Officials have not confirmed these details.
Ledger CEO Pascal Gauthier expressed gratitude for Balland’s resilience and praised the police for their swift action. “We are deeply thankful for David’s bravery during this traumatic experience,” he said in a statement. “To protect his and his family’s privacy, we will not be commenting further.”
Ledger, founded in Paris in 2014, has become a significant player in the cryptocurrency world, providing tools to help users secure their digital assets. The company has grown rapidly, achieving a valuation of $1.5 billion in 2021 after raising $380 million from investors.
This incident has renewed concerns about the risks facing prominent figures in the cryptocurrency space. Law enforcement and regulators have frequently warned about the misuse of cryptocurrency in criminal activities. The Financial Action Task Force (FATF), a global organization combating money laundering, has highlighted the need for tighter regulations to prevent such incidents.
Authorities have not confirmed whether any suspects have been arrested, and investigations are ongoing. This case adds to growing concerns about organized crime in France, which has seen an increase in high-profile kidnappings and attacks in recent years.
