David Balland, co-founder of the cryptocurrency hardware wallet company Ledger, and his wife endured a harrowing 48-hour kidnapping in France, beginning on January 21st.
The ordeal involved physical violence, mutilation, and ransom demands before French authorities successfully intervened and secured their release.
Kidnappers Cut Off David’s Finger
The kidnappers broke into the couple’s home, separated them, and subjected Balland to extreme brutality. Reports revealed that one of his fingers was severed and sent to his colleagues along with a video as part of the ransom negotiations. Despite the trauma, Balland was ultimately rescued alive.
French Authorities Take Swift Action
The case triggered a massive response from French law enforcement, including the GIGN (National Gendarmerie Intervention Group), a specialized tactical unit. Authorities began tracking the perpetrators after stopping a stolen car linked to the incident.
They arrested the driver and used his phone to locate another suspect in Châteauroux, a small town south of Vierzon.
In Châteauroux, Balland was found injured but alive. His severed finger had been used as leverage to pressure Ledger for a ransom payment. A few hours later, police located his wife bound in a van just south of Paris. She was unharmed but deeply shaken by the incident.
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Arrests Made Across France
French prosecutors revealed that ten individuals—nine men and one woman aged between 20 and 40—have been arrested in connection with the kidnapping. They face severe charges, including abduction, physical assault, and extortion, with the potential for life imprisonment if convicted.
The ransom demand, coupled with the violent methods used, underscores the severity of the crime. According to reports, the kidnappers resorted to extreme measures when their initial demands went unmet, further aggravating the situation.
Ledger CEO Speaks Out
Following the public announcement of the case on Thursday, Ledger CEO Pascal Gauthier issued a statement acknowledging the incident.
“Our top priority was always to allow law enforcement to do their jobs and protect the integrity of the investigation,” he said. Gauthier also expressed relief at the safe rescue of Balland and his wife.
A Reminder of Security Risks in Crypto
This shocking incident serves as a grim reminder of the security challenges faced by prominent figures in the cryptocurrency industry. As digital assets continue to grow in value and popularity, key players in the space may become targets for criminal activity.
French authorities’ swift and effective response in this case highlights the importance of specialized teams and advanced tracking technologies in combating such crimes. Their coordinated efforts ensured the safe recovery of both victims and sent a strong message to those considering similar acts.
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