Ledger Co-Founder Kidnapped and Rescued in France

In a shocking incident on January 23, 2025, David Balland, co-founder of the French cryptocurrency company Ledger, was kidnapped from his home. The kidnappers demanded a ransom in cryptocurrency, as revealed by Jameson Lopp in a post on X at 12:10 UTC. Thankfully, French special forces (GIGN) successfully rescued Balland and arrested several suspects involved in 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.

The ransom, which was paid in Tether, was swiftly frozen by authorities, preventing the kidnappers from profiting from this crime. 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 need for better personal safety measures. The rescue of Balland has been widely reported by trusted sources such as DL News and Reuters, shedding light on the vulnerabilities that leaders in the crypto sector encounter.

Sources:

• Jameson Lopp on X: @lopp, regarding the kidnapping

• Reuters: "Co-founder of French crypto firm Ledger freed,"

• Jameson Lopp on X: @lopp, regarding Eric’s safety

• Jameson Lopp on X: @lopp, regarding the frozen ransom