French police have successfully rescued David Balland, co-founder of cryptocurrency security company Ledger, and his wife following a harrowing kidnapping ordeal in central France.
The couple was forcibly taken from their home in the Cher region during the early hours of January 21, 2025. The kidnappers separated the victims and held them at different locations, according to Paris prosecutor Laure Beccuau.
During the 24-hour ordeal, the attackers employed extreme violence, including severing one of Balland's fingers. They demanded a cryptocurrency ransom from Ledger's leadership, with sources confirming that a partial payment was made.
France's elite GIGN tactical unit coordinated the rescue operation, which resulted in both victims being freed and ten suspects arrested. The suspects, nine men and one woman between ages 20-40, were mostly known to law enforcement.
Balland was hospitalized for treatment of hand injuries, while his wife, though physically unharmed, is receiving medical monitoring for trauma. Authorities have successfully traced, frozen, and seized most of the cryptocurrency used in the ransom payment.
Ledger CEO Pascal Gauthier expressed relief following the rescue: "We are deeply relieved that David and his wife have been released and are now safe."
The incident highlights growing security concerns in the cryptocurrency industry. Ledger, founded in 2014, has become a global leader in digital asset security, producing hardware wallets for cryptocurrency storage. The company reached a valuation of 1.3 billion euros in 2023 and employs approximately 700 people worldwide.
The suspects face potential life imprisonment if convicted, given the combination of ransom demands and torture during the kidnapping, according to prosecutor Beccuau.