Ledger Co-Founder Released After More Than 36 Hours of Kidnapping

Ledger Co-Founder Released After More Than 36 Hours of Kidnapping

Key Points:

  • Ledger co-founder David Balland was kidnapped in central France and released after a police operation.
  • Balland, formerly the site director of Ledger’s Vierzon factory, is receiving medical treatment after his release.

According to Bloomberg, Ledger co-founder David Balland was released after being kidnapped in central France earlier this week.

Read more: New Ledger Bitcoin Hardware Wallet Launched With 2FA via NFC   

Ledger Co-Founder Freed After Kidnapping in Central France

The Paris prosecutor’s office confirmed that Balland was taken from his home early on Tuesday and freed late Wednesday following a police operation.

According to the kidnappers’ demands, it was reportedly an enormous ransom against a payout in cryptocurrency. Following tense moments for 36 hours, intervention by law enforcement freed the Ledger co-founder. The prosecutor’s office said he is currently receiving treatment by emergency services following the incident.

Ledger is a hardware wallet manufacturer, securing digital assets for cryptocurrency investors since 2014. Its headquarters is in Paris, France, with a factory in Vierzon, a small city in central France.

The factory, which was opened in 2019, manufactures physical wallets for the company. Ledger has been growing very fast, raising $104 million in 2023. It currently employs about 700 staff members.

Balland Receives Medical Care Following Abduction

Balland was also one of the most important site directors of Ledger at its facility in Vierzon from 2019 to 2021. Given the position his company enjoys in the crypto space, the kidnapping has been highly publicized.

While details of the ransom demand and the investigation continue to come out, the resolution of the case has brought closure to Balland’s family and the Ledger team.

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