• Bitcoin Daily
  • Posts
  • Ledger Co-Founder Kidnapped and Mutilated in Shocking Ransom Case

Ledger Co-Founder Kidnapped and Mutilated in Shocking Ransom Case

David Balland and his wife rescued after a 48-hour ordeal, $10 million ransom demand, and brutal finger mutilation.

January 24, 2025

Commander of the National Cyber Unit colonel Herve Petry at a press conference after David Balland, co-founder of cryptoassets company Ledger, was kidnapped from his home and later released by the French Gendarmerie, in Paris, on January 23, 2025. (Photo by Thibaud MORITZ / AFP)

In a shocking incident on January 21, 2025, David Balland, co-founder of the French cryptocurrency hardware wallet company Ledger, and his wife were kidnapped from their home in Vierzon, France. The kidnappers demanded a ransom of 100 BTC (approximately $10 million). To prove their seriousness, they severed one of Balland's fingers and sent it to another Ledger co-founder, Éric Larchevêque.

Jameson Lopp revealed the incident in a post on X at 12:10 UTC. Thankfully, French special forces (GIGN), along with over 230 officers, conducted a 48-hour operation, successfully rescuing Balland. His wife was later found tied up in a van. Ten suspects were arrested in connection with the crime.

Balland, however, suffered a serious hand injury due to the mutilation and was hospitalized for treatment. Authorities managed to recover most of the cryptocurrency ransom that had been handed over during negotiations, preventing the kidnappers from profiting from the crime.

Initially, there was confusion about the victim's identity, with some reports incorrectly naming Eric Larcheveque, another Ledger co-founder. Jameson Lopp later clarified that it was indeed David Balland who was kidnapped, confirming that Eric Larcheveque was safe.

This is not the first time something like this has happened. In fact, James Lopp has curated an entire list of such attacks here.

This incident highlights the growing security risks faced by individuals in the cryptocurrency world and the pressing need for enhanced personal safety measures. The rescue of Balland has been widely reported by trusted sources such as DL News, Reuters, and Crypto Briefing, bringing attention to the vulnerabilities faced by crypto sector leaders.

Sources: