- French authorities have apprehended seven individuals in connection with the kidnapping and torture of Ledger co-founder David Balland
- Balland and his partner were abducted from their home, with the assailants demanding a €10 million ($10.4 million) ransom
- The elite police unit GIGN successfully rescued the victims after a 24-hour ordeal
French police have revealed that seven suspects have been arrested in connection with the abduction and torture of David Balland, co-founder of the cryptocurrency firm Ledger. Balland and his partner were rescued after a harrowing ordeal which saw them snatched from their home at gunpoint, with the kidnappers demanding a €10 million ($10.4 million) ransom. Following intensive investigations, the elite GIGN unit managed to free both individuals within a day, arresting seven individuals involved, either directly or indirectly, with the act.
A Harrowing Ordeal
The Ballands’ ordeal began last Tuesday when David Balland and his partner, Amandine, were forcibly taken from their home near Vierzon, central France. The assailants, described as small-time criminals from Parisian suburbs, transported the couple in separate vehicles. During the captivity, the kidnappers severed one of Balland’s fingers and sent a video of the act to his business partner, Éric Larchevêque, along with a €10 million ransom demand.
Upon receiving the distressing message, Larchevêque alerted authorities, prompting the deployment of 230 officers. The investigation led to the arrest of a gang member in a stolen car, whose phone provided clues to Balland’s location. GIGN operatives subsequently rescued Balland from a house in Châteauroux, arresting three individuals without resistance. Amandine was found 24 hours later in a van near Étampes, leading to four additional arrests.
Ransom Money Was Frozen
According to X posts re-posted by Balland, the money was actually paid to the kidnappers, but it was immediately frozen once received, meaning they could do nothing with it. However, few details regarding this aspect of the case have been revealed:
I’m but a simple coordinatooor. We’re getting closer to full ransom recovery thanks to the relentless work of @_SEAL_Org – donate ! https://t.co/NIuphvwRgv https://t.co/2JVJhSP7b4
— Nicolas Bacca (@BTChip) January 25, 2025
Balland is currently receiving medical treatment for his injuries, while Amandine is being treated for trauma. According to his X profile, however, he seems to be taking it in good spirit; his profile now says, “🏆 Kidnapping Championship 2025 – @Ledger co-founder – Fingers: 9/10.”
While known crypto whales have sometimes been targeted for their holdings, this move to kidnapping cryptocurrency entrepreneurs represents a worrying escalation.
