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The Co-founder of the Cryptocurrency Company Ledger Kidnapped and Freed After a High-Stakes Operation
A sensitive operation was underway this Thursday, led by the GIGN (France’s elite police tactical unit), following the disappearance of David Balland, co-founder of Ledger, a company specializing in cryptocurrency. While the hostage has been found, suspects are in custody, and significant investigations continue.
Ultra-sensitive operation
The operation has been described as ultra-sensitive, to the extent that the media was temporarily requested to remain silent while lives were at risk. For 48 hours, the national gendarmerie, under the direction of the Juridiction interspécialisée (JIRS) of the Paris prosecutor’s office, carried out a discreet search to locate the perpetrators behind the kidnapping of David Balland, co-founder and partner of Ledger, a start-up specializing in cryptocurrency.
Balland had disappeared on Tuesday in Vierzon (Cher), abducted by a violent commando demanding a large ransom from his family or associates.
A first operation, conducted by the GIGN and described as particularly forceful, led to the discovery of David Balland alive late Wednesday. “The victim was taken by his abductors in a car and transported to another location where he was held captive,” noted the Paris prosecutor’s office in a statement. Balland has been “taken care of by medical services” and is undergoing treatment.
Several suspects linked to this criminal organization, which involves various intermediaries, have been taken into custody. Investigations continue this Thursday morning, with the objective of “identifying and apprehending all the perpetrators of this crime.”
“I’ve never seen anything like this”
Initially handled by the Bourges prosecutor’s office, the case was quickly transferred to the JIRS in Paris due to its sensitivity and the organized nature of the suspects, who are suspected of involvement in organized crime. Investigations are being conducted by the gendarmes of the Bourges research section, supported by other gendarmerie units.
The case involves “kidnapping and organized group confinement to enforce a demand,” as the perpetrators reportedly demanded a large ransom in cryptocurrency. This crime carries the risk of life imprisonment, explained the Paris prosecutor’s office.
Since Tuesday evening, several residents of Méreau and Vierzon reported an unusual deployment of law enforcement on social media. For a time, rumors suggested the abduction of Éric Larchevêque, a high-profile businessman and co-founder of Ledger. However, this was a false report. Larchevêque, who also appears as a jury member on the TV show Qui veut être mon associé? (the French version of Shark Tank), was not targeted by the kidnappers.
The mayor of Méreau, when contacted by Le Parisien on Wednesday evening, stated he had “no information” on the matter. “Law enforcement is still here tonight; they spent part of the night on site,” he noted. “This must be a serious incident because I’ve never seen anything like this in my town,” he added.
David Balland: A cryptocurrency expert
According to his LinkedIn profile, David Balland is an expert in cryptocurrency. Described as a friendly and discreet technician, he co-founded Ledger in 2014, helping it become a leading cryptocurrency company in France. Previously, he launched Chronocoin, a platform that allowed users to purchase Bitcoin with a credit card and receive it via a physical wallet.
As cryptocurrencies continue to hit record levels — Bitcoin reached new highs in recent days — Balland may have been targeted due to his position at Ledger and his proximity to Éric Larchevêque, who is ranked the 391st richest person in France by Challenges magazine.