Ledger co-founder released after being kidnapped and detained for crypto ransom: Report

Ledger co-founder David Balland was abducted from his home in Cher (Centre-Val-de-Loire) on Tuesday, French news. outlet reported on Thursday, citing a statement from the Paris public prosecutor’s office. The kidnappers drove Mr. Balland to an address in a nearby town, where he was held captive for approximately 24 hours.

Local police freed Baland on Wednesday in a rescue operation led by the National Gendarmerie and its intervention group.

According to local media reports, the kidnappers demanded a large ransom from the businessman’s colleagues and family. The amount of the ransom and whether it was paid is still unknown at the time of publication.

Paris prosecutors did not immediately respond. decryption Request for comments. Ledger also did not immediately respond. decryption Request for comments.

After paramedics rescued Mr Balland, he was taken to emergency services to be treated for medical injuries. Prosecutors told a local newspaper Thursday that investigators were still investigating the kidnapping.

Balland co-founded Ledger in Paris in 2014. The company secured a valuation of $1.5 billion in 2021. Raised $380 million From investors to the company add more funds In 2023.

The kidnapping comes at a time when the prices of many cryptocurrencies have skyrocketed in recent months. price of Bitcoin—Often used as a measure of the strength of the cryptocurrency market—traded for over $106,000 This morning, CoinGecko data After hitting a new high of nearly $109,000 on Monday.

editor andrew hayward