According to the Paris public prosecutor’s office, Ledger co-founder David Balland was kidnapped on Monday and released on Wednesday thanks to police intervention. His companion, who was abducted with David Balland, was also freed. The kidnappers demanded a crypto ransom for his release.
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Ledger executive targeted in kidnapping over crypto holdings
Kidnappings for ransom continue to target players in the crypto industry. According to a press release from the Paris public prosecutor’s office consulted by Bloomberg, the co-founder of Ledger, David Barrant was kidnapped on Monday January 20 in Vierzon, a small town in France. During the same operation, the violent gang also kidnapped the wife of Ledger’s manager.
According to judicial sources, the kidnappers drove the victims in a car to a place where they were held captive. The same sources report that the kidnappers demanded a cryptocurrency ransom to free the couple. They even cut off one of Ballant before sending him to his associates to force him to pay the ransom, announces Le Parisien.
As a reminder, Ledger is a French company specializing in the manufacture of physical crypto wallets. Valued at over 1.3 billion euros, the company multiplies partnerships to consolidate its status as the world leader in crypto storage.
Successful rescue operation led by French police
Contacted by David Balland, the French police launched two forceful assaults against the kidnappers. Led by the French Gendarmerie’s GIGN (Groupe d’intervention de la Gendarmerie nationale), the first operation resulted in the recovery and release of David Ballant. Four kidnappers were also arrested during the raid on Wednesday January 22.
The second GIGN operation was carried out on Thursday, January 23, and was aimed at finding the wife of the Ledger manager. It was successful, as the wife of Ballant was released and 4 other kidnappers arrested. All 8 kidnappers arrested were taken into custody. For their part, the victims continue to receive emergency health care, announced the public prosecutor.
As the crypto market reaches new heights, crypto players are being targeted by criminals of all stripes. Brutal murder in south korea, kidnapping of a trader in Hong Kong, ransom demand at the Olympics in Paris, security incidents targeting crypto holders are multiplying. We’ll have to be careful and discreet, especially in this year as the bullrun is expected.
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