Shocking Kidnapping of Cryptocurrency Pioneer: Seven Arrested in France

French authorities have detained seven individuals following the violent abduction of David Balland, co-founder of cryptocurrency security firm Ledger.

Incident Overview

The seven suspects, including six men and a woman, were arrested as part of an anti-gang investigation into the kidnapping and torture of Balland and his partner. They could face prison terms of up to life. Paris prosecutor Laure Beccuau reported that Balland was taken from his home in Mereau, Loire region, early Tuesday.

Rescue Operation

The kidnapping was reported to police by another Ledger co-founder, Eric Larcheveque, after he received a disturbing video of a mutilated finger belonging to Balland alongside a ransom demand. Police managed to locate and rescue Balland on Wednesday, and he was promptly taken to the hospital for treatment. His partner was found tied up in a car at a different location.

Criminal Charges and Seized Assets

According to prosecutors, most suspects had prior criminal records but were not previously involved in gang-related crime. They had demanded a large cryptocurrency ransom, part of which was handed over during negotiations. Authorities have since seized and frozen the crypto assets involved in the case.

The seven suspects, aged between 20 and 25, are now in pre-trial detention, facing charges of gang-related kidnapping, torture, and armed extortion. A significant operation involving 230 police and gendarmes, including the elite GIGN tactical unit, was executed to address the situation.

About Ledger

Founded in 2014, Ledger is a unicorn company valued at over $1 billion and is recognized as a world leader in digital wallets and vaults designed to safeguard crypto assets.