- Ledger Co-founder David Balland has been liberated after a kidnap attempt in France
- Balland was abducted earlier this week and held captive, with the kidnappers demanding a substantial ransom
- French police freed Balland, although details remain sketchy
David Balland, a co-founder of hardware wallet maker Ledger, has been liberated following a dramatic kidnap and ransom request. Balland was abducted from his home near Vierzon earlier this week in an incident that has shocked the region, with a significant cryptocurrency ransom demanded. French police launched multiple searches on Wednesday, eventually locating and rescuing Balland, although details remain thin on the ground.
Armed Units Rescued Balland
Balland’s kidnapping took place between Monday night and early Tuesday. Balland, who lives in Méreau, a small village south of Vierzon, was forcibly taken by his captors and transported to an unknown location. During his captivity, Balland’s abductors demanded a large ransom to be paid in cryptocurrency, although it’s not clear if the target was Balland’s family or Ledger.
Specialist police agency Groupe d intervention de la Gendarmerie Nationale (GIGN) investigated the kidnap, focusing on three apartments in Vierzon, a town in central France. At 3:30 p.m. on Wednesday, heavily armed GIGN units conducted raids on three properties, with an eyewitness describing the scene to local media as chaotic:
We saw gendarmes arriving with a big explosion, and then they blocked the street. There was even a helicopter circling overhead.
The dramatic operation culminated in the rescue of David Balland, who was released unharmed. The fate of the kidnappers has not been revealed, although it is assumed that they were arrested.
Balland co-founded Ledger in Paris in 2014.
