David Balland, co-founder of Ledger, has been rescued after a distressing kidnapping incident, as confirmed by the Paris prosecutor’s office, according to a Bloomberg report.
He was abducted from his home in central France during the early hours of January 21. He was held captive for more than a day before law enforcement initiated a nighttime operation on January 22 to secure his release. Authorities confirmed that the kidnappers demanded a ransom in cryptocurrency.
Rumours of a kidnapping started circulating on social media on January 22, but they remained unverified until the official announcement. Notably, former Binance CEO Changpeng Zhao addressed the speculation in a now-deleted post on X, stating,
“Not sure what is true for now,”
and acknowledging reports about a potential ransom situation.
Jameson Lopp, co-founder and CTO of self-custody service Casa, also commented on X, expressing suspicion over Ledger’s silence and referring to the rumours as unconfirmed.
“We have no reliable info on what has transpired, though Ledger’s silence makes my spidey sense tingle. I suspect that there is an ongoing incident involving an undisclosed person,”
Lopp wrote.
Balland, who served as the site director at Ledger’s manufacturing facility in Vierzon from 2019 to 2021, is currently receiving medical care following his release as authorities continue to investigate the circumstances surrounding the abduction.
Notably, the French cryptocurrency hardware wallet manufacturer Ledger, founded in 2014, has raised €100 million ($109 million) in funding and reached a valuation of €1.3 billion ($1.42 billion) in 2023, employing around 700 people globally. Recently, Ledger partnered with Revolut to enhance user experience by allowing Ledger wallet users to convert fiat currency to cryptocurrencies directly on their devices. This integration into Ledger Live streamlines crypto purchases for Revolut account holders, eliminating extra identity checks and speeding up transaction times, reducing reliance on traditional exchanges.
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