In a distressing turn of events for the cryptocurrency sector, David Balland, co-founder of Ledger, a leading French hardware wallet manufacturer, and his wife have been safely released after a harrowing kidnapping ordeal. This shocking event occurred during the early hours of Tuesday, January 21, when the couple was forcibly taken from their home and transported to an undisclosed location. Such incidents shed light on the growing dangers faced by individuals in the cryptocurrency industry, especially as high-profile figures become increasingly prime targets for criminal activity.
The Ransom Demand: A Shift in Criminal Strategy
Reports indicate that the kidnappers demanded a significant ransom in cryptocurrency, highlighting a worrisome trend where cryptocurrency is becoming the currency of choice for extortion. This shift does not only signify the growing valuation and acceptance of digital currencies but also showcases the lengths to which criminals will go to exploit their hidden nature. Law enforcement officials acted decisively, managing to locate and rescue Balland during a covert operation late Wednesday night. While details about the rescue remain scarce, medical assistance was provided promptly to ensure the couple’s health and safety after their traumatic experience.
The incident has sent shockwaves through the tech community, raising concerns about the safety of others involved in cryptocurrency and related sectors. Additional rumors swirled around a supposed second kidnapping involving Ledger’s other co-founder, Eric Larchevêque. However, these claims were quickly dismissed by Grégory Raymond, another key figure in the cryptocurrency news industry, underscoring the importance of verifying information in a climate rife with speculation and fear.
Founded in 2014, Ledger has become synonymous with the secure storage of digital assets, offering hardware wallets designed to safeguard against cyber threats. With a company valuation of €1.3 billion (approximately $1.42 billion) and a successful fundraising of €100 million ($109 million) in 2023, Ledger employs around 700 staff, showcasing its substantial presence in an ever-evolving digital landscape. Yet, as the company flourishes, it must also navigate the vulnerabilities that accompany such success, as highlighted by the ongoing risks surrounding its executives.
The recent increase in kidnapping incidents involving cryptocurrency executives raises alarms. According to the “Known Physical Bitcoin Attacks” archive curated by Jameson Lopp of Casa, there have been at least six documented attacks in 2025 alone, suggesting that such dangers are becoming more common. This pattern is exemplified by the case of Dean Skurka, CEO of Canadian firm WonderFi, who was kidnapped during rush hour in Toronto, only to be released after a substantial ransom of $720,000 was paid.
While the cryptocurrency industry continues to thrive, the recent kidnapping of David Balland is a stark reminder of the precariousness that accompanies financial innovation. Industry stakeholders must remain vigilant and proactive in safeguarding their personnel and assets as they navigate this increasingly perilous environment.
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