French Crypto Exec Kidnapped: Dramatic Rescue by Elite Police

David Balland, a co-founder of Ledger, was kidnapped in France with a ransom demand. He was freed after a police operation, and authorities are investigating. Ledger is a leading crypto company in France known for its hardware wallets.

A co-founder of Ledger, a prominent French crypto company, experienced a terrifying ordeal after he was kidnapped from his home. David Balland was taken early Tuesday from his residence in central France, according to a statement from the Paris prosecutor's office.

The kidnappers demanded a significant ransom in cryptocurrency. Although it's unclear if the ransom was paid, the kidnappers released Balland on Wednesday. He received immediate medical attention, the statement revealed.

The daring rescue operation to free Balland involved GIGN, France's elite tactical police force. Ongoing investigations aim to identify and apprehend the kidnappers. Ledger, known for its hardware wallets and valued at $1.5 billion in a 2021 funding round, continues to be under the spotlight as the case unfolds.

(With inputs from agencies.)