In a dramatic turn of events, David Balland, co-founder of cryptocurrency hardware wallet company Ledger, and his wife have been safely freed following their abduction from their home in France.
According to the Paris prosecutor's office, the couple was taken from their residence in the early hours of Tuesday, January 21. The kidnappers, who held them at an undisclosed location, demanded a ransom payment in cryptocurrency.
French law enforcement conducted a successful rescue operation late Wednesday night, leading to the couple's release. Medical services are currently attending to them, though specific details about their condition and the rescue operation remain limited.
The incident sparked unfounded rumors about another potential kidnapping involving Eric Larchevêque, Ledger's other co-founder. These claims were quickly dismissed by Grégory Raymond, co-founder of crypto news outlet The Big Whale.
Ledger, established in 2014, has become a leading manufacturer of hardware wallets for securing digital assets offline. The French company, currently valued at €1.3 billion ($1.42 billion), raised €100 million in 2023 and maintains a workforce of approximately 700 employees.
This incident adds to a growing list of physical attacks targeting cryptocurrency executives. The "Known Physical Bitcoin Attacks" archive notes at least six similar incidents in 2025 before Balland's kidnapping. In a recent case, WonderFi CEO Dean Skurka was abducted in Toronto and released after paying a $720,000 ransom.
The cryptocurrency industry continues to grapple with security concerns as high-profile executives become targets for criminal activities.