Ledger Co-Founder and Wife Rescued After €10M Crypto Ransom Kidnapping in France

Jan 23, 2025, 07:53 PM

Ledger co-founder David Balland and his wife were kidnapped near Vierzon, France, by assailants demanding a ransom of 10 million euros in cryptocurrency. The kidnappers allegedly cut off one of Balland's fingers to pressure the family into paying the ransom in Bitcoin, which was to be sent to accounts in Morocco. The Gendarmerie Nationale's elite unit, GIGN, conducted operations that led to the safe rescue of Balland and his wife, who had been abducted separately. Balland is currently hospitalized due to hand mutilation. The kidnappers accepted Tether as part of the ransom, which was promptly frozen and seized. At least ten suspects, some known to authorities, have been arrested in connection with the kidnapping, with seven facing potential charges.