Ledger Co-Founder Injured When Kidnapped, 2 Perpetrators Asking For Crypto Ransom Arrested

UNSPLASH/Pierre ILLUSTRATION Herman

JAKARTA - David Balland, co-founder of French crypto company Ledger, was injured in the hand when he and his wife were kidnapped. Ten people were questioned by authorities regarding the kidnapping of the founder of Ledger.

Balland and his wife were kidnapped on Tuesday morning from their home in central France, and taken by car to two separate places where they were held hostage, Paris Prosecutor Laure Beccuau told a news conference reported by Reuters on Friday, January 24.

Balland, who Ledger said was no longer working for the company, was rescued after police operations on Wednesday and his wife were released the next day.

During the kidnapping, the kidnappers contacted one of the other Ledger founders and demanded ransom in cryptocurrencies, some of which had been paid.

The rescue operation involved more than 90 officers from GIGN, one of France's elite tactical police units, which led to the release of Balland and the arrest of two people.

Balland was taken to hospital and treated for injuries to one of his hands, he said, without providing details.

Baldand's wife was found tied but not injured in the car on Thursday.

"We are very relieved that David and his wife have been released, and are now safe," Pascal Gauthier, chairman and CEO of Ledger said in a statement. Balland has been out of work at Ledger since 2021 and currently has no role there, the company said.

"We respect the law enforcement's request to keep important details from ongoing investigations and appreciate members of the press who do the same," said Gauthier.

As of Thursday, 10 people were being questioned by the police. They face life imprisonment if found guilty.

Nearly all cryptocurrencies paid to the kidnappers were tracked, frozen and confiscated.