Crypto Kidnapping: Ledger Co-Founder and Spouse Forcibly Brought to Safety After Receiving Extortion Demand in Digital Currency Incident
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David Balland, one of the masterminds behind Ledger, a top-tier French crypto wallet manufacturer, and his significant other, have safely surfaced following their shocking turbulence earlier this week.
Early Tuesday morning, Paris authorities confirmed the unfortunate incident where the duo was dragged from their home and secreted away to an unspecified location.
According to Bloomberg’s findings, the criminals had set a hefty ransom demand, seeking cryptocurrency as payment. Thankfully, the law enforcement officials successfully found and liberated Balland during a clandestine operation late on Wednesday night. Details regarding the rescue mission have been kept under wraps, but emergency medical services are providing essential care to the freed individual.
This nerve-wracking event sent waves through the tech community, raising eyebrows about potential threats lurking within the crypto realm. Rumors began swirling about another alleged kidnapping involving Ledger's other co-founder – Eric Larchevêque. However, Gregory Raymond, co-founder of crypto news platform The Big Whale, swiftly shut down these speculations, confirming that Larchevêque was not involved.
Established in 2014, Ledger is celebrated for its offline hardware wallets, safeguarding users' digital assets from digital vagaries. The company boasts a staggering valuation of €1.3 billion ($1.42 billion), a staggering sum garnered after raising €100 million ($109 million) in 2023. Ledger proudly employs nearly 700 employees.
The ominous "Known Physical Bitcoin Attacks" database, curated by Casa's co-founder Jameson Lopp, reveals that at least six similar assaults on crypto assets were logged in 2025 alone, with Balland's incident among them.
As previously reported, Dean Skurka, CEO of Canadian crypto firm WonderFi, became another victim of kidnapping in Toronto during rush hour in November. Skurka was released unscathed after paying a substantial $720,000 ransom. In a statement, Skurka reassured users that the company's finances and data remained secure. This unfortunate occurrence coincided with WonderFi's earnings report, highlighting a monumental 153% revenue increase year-over-year.
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In January 2025, unsubstantiated rumors surfaced about a kidnapping involving Eric Larchevêque, Ledger's other co-founder. As of May 2025, these claims have been officially debunked and remain unverified by authorities[4][5]. Eric Larchevêque has been vocal about the escalating problem of violent assaults targeting crypto executives, including those in France, where 14 such incidents were reported in the last year[1][2]. Despite the recent turmoil, Larchevêque has actively collaborated with French authorities to counter these threats and emphasized the gravity of these concerns.
In essence, Ledger's co-founders have been embroiled in incidents linked to crypto-related crimes, but specific accusations against Eric Larchevêque remain unfounded and uncorroborated as per the latest updates in May 2025[5].
- David Balland, being a key figure in Ledger, a renowned finance technology company specializing in crypto wallet manufacturing, found himself in a disturbing situation when he was kidnapped for Bitcoin ransom.
- The "Known Physical Bitcoin Attacks" database, created by Casa's co-founder Jameson Lopp, records a significant number of assaults on crypto assets, including the incident involving Ledger's co-founder, David Balland, in 2025.
