Ledger Co-Founder Rescued in High-Stakes Police Raid

Crypto News Regulation

Ledger Co-Founder Rescued: Shocking Kidnapping Ends in Police Raid

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 27, 2025

Key Takeaways

French police rescued a kidnapped crypto entrepreneur and froze most of the $100 million ransom demand;
Seven suspects face charges after the violent abduction and ransom plot targeting Ledger’s co-founder;
Over 200 officers, including GIGN, collaborated in the rescue operation and asset recovery.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Ledger Co-Founder Rescued: Shocking Kidnapping Ends in Police Raid

BITDEGREE IN YOUR SOCIAL FEED

French police have arrested seven people in connection with the kidnapping and assault of a cryptocurrency entrepreneur and his partner.

The arrests came after a coordinated effort involving over 200 law enforcement officers, including experts in cryptocurrency and hostage rescue. The operation also involved a specialized tactical unit known as GIGN.

The victim, David Balland, was abducted from his home in Mereau, a town in the Loire region, on January 21. Balland, a co-founder of the cryptocurrency security company Ledger, was no longer affiliated with the business at the time of the incident. His partner was taken separately and later found tied up in a car.

How to Store NFTs in 2023 (3 Most Secure Ways Explained)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Eric Larcheveque, one of the Ledger co-founders, reported to police after receiving a video showing Balland’s injured finger alongside a ransom demand.

The kidnappers requested 100 BTC, worth approximately $100 million. While some funds were transferred as part of negotiations, authorities were able to track and freeze the majority of the assets before they were accessed.

Balland was rescued on January 22 and taken to a hospital for treatment. His partner was also found and is receiving care.

A total of ten suspects were initially taken into custody, but three were later released. The remaining seven are now in pre-trial detention. Five of them are between 20 and 25 years old. They face charges of gang-related kidnapping, torture, and armed extortion.

Meanwhile, the Federal Bureau of Investigation (FBI) recently stopped a kidnapping plan targeting a Miami jeweler who owned $2 million in cryptocurrency. How did the case go? Read the full story.