Key Takeaways
- David Balland, Ledger co-founder, was kidnapped and later safely launched in France.
- Kidnappers demanded a cryptocurrency ransom; police resolved the incident on Jan. 22.
- Ledger’s international success contains promoting over 7 million {hardware} wallets as of 2024.
David Balland, co-founder of the French cryptocurrency {hardware} pockets firm Ledger, was safely launched after being kidnapped in central France, based on the Paris prosecutor’s workplace.
Balland was kidnapped from his residence on January 21, with the abductors demanding a ransom in cryptocurrency.
A police operation on January 22 efficiently secured Balland’s launch.
Authorities confirmed that he’s receiving medical consideration following his ordeal.
About Ledger
Based in 2014, Ledger is a distinguished producer of cryptocurrency {hardware} wallets designed to maintain customers’ personal keys offline.
The corporate raised €100 million ($109 million) in 2023, reaching a valuation of €1.3 billion ($1.42 billion).
Ledger operates a producing facility in Vierzon, France, the place Balland served as web site director between 2019 and 2021.
The kidnapping incident sparked important hypothesis inside the cryptocurrency group.
On January 22, former Binance CEO Changpeng Zhao tweeted concerning the rumors, later deleting the publish.
Jameson Lopp, co-founder of self-custody service Casa, referred to the incident as “unconfirmed rumors,” suggesting Ledger’s silence indicated an ongoing scenario.
Broader context
Ransomware crimes involving cryptocurrency have been a rising concern.
In 2023, victims paid over $1.1 billion in cryptocurrency ransoms, based on blockchain analytics agency Chainalysis.
Ledger has offered over seven million {hardware} wallets to this point, claiming none have ever been hacked.
The corporate has but to launch an official assertion on the incident.